Berlin tech accelerator invites UK start-up to be part of new program
Program seeks to support promising new smart transport and energy firms
UK-based Phaide Limited has beaten hundreds of start-ups to be named one of the firms that will be enrolled into a new Berlin accelerator program.
The Liverpool company, whose house monitoring kit consists of a series of environmental recording sensors and a processing system, was today announced as one of the eight companies to be enrolled on Startupbootcamp’s Smart Transportation and Energy program.
The program, being run out of Startupbootcamp's existing premises in Berlin, aims to support companies working in the areas of smart mobility and vehicles, logistics and supply, location-based services, sustainable energy and data services, amongst others.
Related Articles on Techworld
The Berlin accelerator selected the companies from around the world and is now inviting them to take part in the three month program in return for eight percent equity of their business. Startupbootcamp is running the same accelerator program out of its San Francisco facility, where it's yet to announce the cohort.
Successful start-ups each receive €15,000 (over $20,600) and six months free office space in Berlin’s Rainmaking Loft, a 1,000 square metre co-working space.
Startupbootcamp said the start-ups will also receive extensive mentorship from over 100 entrepreneurs, investors, and corporate partners. Partners include HERE, the global maps and location intelligence business of Nokia; electric utilities company EnBW; automotive corporation Daimler; network provider Cisco Systems; Castrol’s innoVentures, Castrol’s innovation arm, and global supplier of technology and services Bosch.
The accelerator claims the overall package is worth more than €400,000 ($550,000) to each start-up.
Other companies chosen to be a part of the Berlin accelerator boast technologies such as drone networks, solar power communities and public transport management systems.
The cohort was selected after 20 applicants pitched their companies over the weekend to more than 100 mentors and program partners.
Startupbootcamp Smart Transportation and Energy CEO, Alex Farcet, said: “This year's batch is super competitive with teams coming from Germany, Estonia, Greece, Israel, the US, UK, Denmark, Spain, Serbia, Turkey and Egypt. We've also noticed that the teams are more advanced, some having already raised seed rounds, which is an indication of our growing reputation amongst founders.”
Nicholas Goubert, head of product marketing for enterprise and platform at HERE, said: "Increasing city populations and stretched resources mean there is an ever growing need for smart transportation solutions from HERE and the innovative start-ups selected by Startupbootcamp. We’re excited to mentor these start-ups and deliver products that will tackle this global challenge.”
Bernd Heinrichs, Internet of Everything sales lead for Cisco EMEAR and head of Center of Innovation Berlin, added: "For Cisco, Startupbootcamp is a great vehicle to drive external innovation together with key industrial players and the brightest minds in the start-up world. The combination of Smart Transportation and Energy offers huge potential to support potential customers with solutions that provide a way to grab the value at stake in these industries."
Berlin is quickly emerging as one of the world's leading global tech hubs but a lack of venture capital funding has been cited as one of the main reasons for holding it back.