European accelerator IMPACT is launching IMPACT GROWTH, a new acceleration program led by ISDI and Accelerace with a fund of €3.6 million and the final aim of identifying four European super startups. In the first stage of the program, IMPACT Growth will finance 28 startups with €100,000, equity free.
The program, which was launched on February 27 at 4YFN Barcelona, the startup event of Mobile World Capital Barcelona and GSMA, is focused on four verticals and aimed at startups from all over the world in the growth phase, with products that are already in the market. Furthermore, startu
ps should have the potential to achieve Seed and Series A round financing at the end of the acceleration program, to access capital already focused on scalability and international growth. The four verticals are: Smart Infrastructure & Cities, Smart Content, Smart Manufacturing, and Smart AgriFood.
As in IMPACT’s previous programs, funding will go hand in hand with a high-performance startup training program in which renowned experts and international entrepreneurs will deliver practical classes in Madrid, Copenhagen, and Barcelona. In addition, entrepreneurs will have access to an international network of more than one hundred recognized mentors, founders, and investors who are experts in different key areas of knowledge, both in the digital sector and in the accelerator’s four verticals.
Mentors will help startups solve complex issues related to business, technology, and scalability. Following the acceleration phase of the program, two startups selected from the batch of 28 will also receive an additional €150,000 equity free, and the best four will have the opportunity to get up to €1.5 million in private investment from Kibo Ventures and Accelerace.
Startups will receive support from the FIWARE Foundation in incorporating FIWARE technologies into their software architecture. FIWARE is an innovative, open source, and cloud-based technology stack that eases the creation and global deployment of smart services and applications in the new Digital era.
The search for four “super startups”
An important aspect of this new program is the creation of four acceleration verticals. Each vertical is supported by a large international organization that will act as a mentor to selected projects, offering focused expertise and the possibility of future partnerships. The areas are:
- Smart Infrastructure & Cities, supported by Ferrovial Servicios;
- Smart Content, with DOCOMO Digital as leader;
- Smart AgriFood, led by Danone;
- Smart Manufacturing, partnered with MADE (Lego).
The startups selected for this specific plan will be incorporated into a demanding acceleration program led by ISDI and Accelerace and supported by the multinationals that are part of the project. These startups will be able to access world-class events and top-level mentors as well as the private financing of €1.5 million led by Kibo Ventures and Accelerace.
IMPACT Growth is accepting applications on their website until May 9th, 2017.