Startupbootcamp announces the launch of Startupbootcamp Scale, an innovation program for growth stage startups in emerging markets.
The program is an addition to the traditional Startupbootcamp program, and will target startups post-accelerator stage (pre-Series A funding) looking for a customised approach to help them solve challenges in areas such as business development and expansion.
Startupbootcamp Scale is backed by key players in each market and industry, and will provide companies, who already have validated business models, the opportunity to develop their offering in collaboration with corporates within a specific industry and region. The program will target and scout relevant startups based on their stage, area of interest and regional focus, including those looking to expand into the program’s markets.
The first Startupbootcamp Scale program will take place in Mexico City, following the inaugural FinTech accelerator program. Corporate partners onboard for Startupbootcamp Scale in Mexico City include: Visa, Fiinlab powered by Gentera, BanRegio, HSBC Mexico, EY Mexico, IGNIA and White & Case.
Participating companies will benefit from a variety of workshops and networking events, including skill building masterclasses and business development showcases. The program will:
• Facilitate collaboration with corporate partners in developing tools for selected startups to scale-up quickly in new markets or develop businesses in existing markets;
• Require the startups to be on-site once a month for various activities, including workshops and masterclasses; mentor meetings; and networking events, over a period of 6 months;
• Provide opportunities for startups to showcase their progress throughout the 6 month period;
• Take up to 4% equity in each startup that joins the program;
• Provide each company with a cash grant of $30,000 USD;
• Target startups from within the existing Startupbootcamp ecosystem as well as across each program’s region.
Nektarios Liolios, CEO and co-founder, Startupbootcamp FinTech, said: “The idea for Startupbootcamp Scale grew from a recognition that there is a necessity to focus on addressing the needs of startups with validated business models. An innovation program like this doesn’t exist, that is targeted at working with companies looking to scale up their businesses, specifically in regions that are emerging as hubs in a particular industry. Our industry knowledge combined with intimate understanding of key markets means that we are equipped to deliver a program that benefits both the startup companies and corporate sponsors.”
Andy Shannon, Head of Global at Startupbootcamp, said: “Emerging markets are poised for huge growth that will yield even greater prosperity. Over the years, Startupbootcamp took the time to understand and align with entrepreneurs’ needs across the entire world. This puts us in a unique position to help investors, partners and startups better connect.
"Launched today, Startupbootcamp Scale is a new innovation program for growth stage companies created to contribute towards the transformation of the emerging markets. Through this initiative we aim to boost startups’ potential for growth and fundraising whilst matching them with the right corporate sponsors.”