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BuildIt for (hardware startups in) You

Accelerator of Things

Are you a hardware startup focused on Consumer Electronics, Wearable devices, Robotics. Are you working on products in the area of Internet of Things (IoT) or Unmanned Aerial Vehicle aka drones?

Are you tired of me-too accelerators which seem to lack focus and have launched an “incubator / accelerator” because that seems to be the in-thing today? Are you looking for an accelerator which understands the needs of hardware startups? Then BuildIt is for you.

BuildIt is a specialized accelerator focused on hardware. In the words of its Founder & CEO Aleksander Tõnnisson “We are experiencing a revolution as hardware is becoming the new software but we are still in the early adopters stage. Product development and manufacturing has become cheaper and more available for small companies, but many still struggle with even the basics. Building a hardware company is a lot different compared to a software startup. Hardware startups need access to machine shops and latest tools which is what our startups have at BuildIt.

In addition to funding, mentorship and discounted services from various partners BuildIt accelerator provides free office space and access to wide range of on-site prototyping facilities, such as 3D printers, scanners, CNC milling machines and more. All these according to them helps a startup keep its development costs low.

Equipment at BuildIt

India being a hot-bed for quality engineering talent, they are looking to work with local startups to create more success stories. Startups will receive €10,000 – €20,000 in funding in exchange for 6% – 12% in equity. Companies that already have raised funding or don’t need any funding can also apply and participate in the program in exchange for 3% equity.

To qualify, you should have a team of at least 2 founders and a working prototype or an idea that can be developed into a working prototype within 3 months. As is the case with most programs, teams with traction have a higher chance to get into the program.

The 3-month program will be conducted at their campus in Tartu Science Park, Estonia and BuildIt’s team will help with the accommodation and settling in. The Science Park is run by an experienced International team made up of experts with engineering, hardware, business development and startup background.

At the end of the program startups will have a prototype and skill-set necessary to successfully move on to the global start-up and investor hubs. The 3 month program will also include trips to industry trade shows, partner meetups, investor networking and pitching events and will help startups attract follow-on investments.

[hero heading=”BuildIt”]There’s a hardware revolution underway.
Deadline to apply is December 31, 2014.[/hero]

(If you are an amazing Indian startup founder or enabler of startup eco-system in India and would like to be interviewed or featured on Startups.in then I’d be happy to talk to you. Contact me right away.)
(Please post your announcements and press releases directly to Announcements & PR forum)

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Naag

Bootstrapper at Startups
Being away from India for several years, I'm always excited about anything Indian. I'm particularly crazy (read passionate) about start-ups in India and administer the portal for Indian Startups which started off as a platform to write about startups around the world and India in particular. Do startups interest you? Then join startups. Let's build startups in India together. If you need to talk to me in real-time, I'll be available on IRC channel #startuphub. Click to connect.

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  1. Its cheering to hear such encouraging posts for hardware, but too much painful realizing the real scenario ….pitches, after pitch….the tremendous inclination of VCs and Angels towards funny Apps makes every time to reset to think to leave the domain of “Hardware” which is real hard to penetrate and forecast a straight line equation of ROI that simply all want to see…

    • You’re not alone. To keep you encouraged here are some pains experienced by entrepreneurs like you. Tim Westergren of Pandora has been rejected close to 300 times by investors. It is a public company today and has a market cap of ~ US$4Billion. Skype was perhaps rejected more than 40 times. It was purchased by Microsoft for $8.5B. Airbnb which continues to raise funds at an astronomical valuation of ~20B has been rejected by almost every top VC. The list doesn’t end there – founders of Intel, Paypal, Google etc., have all faced rejections trying to raise funds. So, welcome to the world of startups and just pat yourself for following your dreams and keep going. The secret to success is not losing hope.

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