VIENNA, September 20, 2018 /PRNewswire/ --
European technology start-ups will receive growth capital of 100,000 euros, access to global test markets and customers, coaching from top level mentors as well as office spaces in Austria and San Francisco.
"360° in 360 Days": This is the name of a new international accelerator program for promising European technology start-ups. Participants of this program will receive growth capital of 100,000 euros and will be supported by renowned mentors and investors in gaining a foothold in Europe and the USA and in attracting venture capital. The program, which will be carried out in Graz and San Francisco, consists of three phases and will start in January 2019. The highlight will be the opportunity to move into the CoLab44 in Silicon Valley, in the immediate vicinity of Facebook, Google and co.
Christian Vancea, CEO of the 360 Lab: "In Europe, there are many start-ups who successfully develop new technologies or business models but are lacking the necessary know-how and infrastructure to achieve an international breakthrough. While there are numerous incubator and accelerator programs available to them, the majority of these are not geared towards supporting them as they transition from market entry to the growth phase, which requires a lot of capital. Therefore, it was our goal to develop an accelerator program in the 360 Lab that covers exactly this crucial area. A decisive factor for start-ups is the fact that we have the necessary capital for follow-up investments as well as an international network at our disposal and can thus create a considerable added value. The '360 Lab Accelerator' thereby unlocks the doors to international markets and investors for European start-ups."
The program is open to technology start-ups within the fields of marketplace, FinTech, blockchain, AI, SaaS, e-commerce, etc. The selection process consists of several phases. Applications can be submitted from 20 September to 11 November. In the course of an event on 12 December, five start-ups with great potential will be selected and will start the program in Graz in January 2019.
Over the first four months, the start-ups' products and services will be adapted to meet the market's requirements and the most effective sales method will be selected. Towards the end of this first phase, the start-ups will present their progress to interested investors on Demo Day. If they manage to impress on that day, they will not only be able to secure investments, but also get the unique opportunity to prove themselves at Silicon Valley.
At the "CoLab44" in San Francisco, they will have three months of intensive work to get ready for the international launch, thereby following the motto "The more users or revenue, the more venture capital".
Martin Trink, Head of 360 Lab Accelerator: "We offer European technology start-ups a structured program that enables them to develop their business in Europe, to find additional investors for their international expansion, to enter the US market, to replicate the success they had in Europe and to obtain funding from the world's most renowned venture capital investors, all within one year. We look forward to numerous innovative applicants from all over Europe who we can guide and support on their way to success."
The 360 Lab
The 360 Lab is a think tank and the myWorld group of companies' innovation hub. Founded in 2018, the 360 Lab is an independent company with its headquarters in Graz. It will be officially launched on 16 October.
To live up to its claim of being a think tank in the field of corporate innovation, the CoLab44 was established in San Francisco, enabling businesses and start-ups from all over Europe to meet stakeholders from Silicon Valley. It also provides the ideal setting for the "360 Lab Accelerator's" second branch and thus creates a win-win situation for everyone involved.
Applications for the "360 Lab Accelerator" can be submitted between 20 September and 11 November at http://www.360-lab.com.
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SOURCE 360 Lab Accelerator