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.
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.)
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