Deadline: 1 September 2023
Applications are now open for the Buildit Accelerator Batch #17, designed for IoT and hardware startups according to the current situation.
At Buildit you don’t just get a product accelerator. You get a partner in development that’s invested in seeing you succeed.
Best performing teams receive Pre-Seed investment in cash, and as a Seed fund – if they see you have a great idea to offer, you need to look no further for an investor to lead the next round. The time and energy spent in the accelerator, developing relationships and demonstrating your team’s gusto, may just literally pay off.
Buildit offers
- Intensive acceleration program covering the most important topics
- Good network in field of manufacturing in Baltic and Europe where they have strong cooperation with EIT Manufacturing
- Investment starting from EUR 10’000 to 50’000 on PreSeed stage
- Leading or joining the Seed round with investment up to EUR 250’000
- Contacts with Asian & European manufacturers and investors
- Optional participation in the follow-on program.
What to expect from the program
- Everything starts with a click:
- Fill out the application and answer a few questions about your product
- They’ll be in touch with an interview
- If they’re a good fit, they’ll proceed with the program.
- 10+ teams will be selected to participate in the program that’s made up of 3 stages: build up, build it, and build out
- Build Up
- Getting physically, mentally, and legally ready to hit the ground running when the mentors arrive, and the heavy lifting begins.
- Relocation to Riga, Latvia
- Establishing legal entities
- Opening bank accounts
- Networking
- Getting physically, mentally, and legally ready to hit the ground running when the mentors arrive, and the heavy lifting begins.
- Build It
- The main program – 4 intense weeks in 4 month period of work with mentors to develop a market-ready, fundable and scalable product and business plan.
- Close work with mentors
- Business idea validation
- Product development & design thinking
- Sales & marketing training
- Fundraising & pitch training
- Prototyping & field trips
- The main program – 4 intense weeks in 4 month period of work with mentors to develop a market-ready, fundable and scalable product and business plan.
- Build Out
- Teams who demonstrate exceptional potential may be invited to the follow-on program even after the main program has ended.
- Optional Seed round lead by Buildit
- Support in finding additional investors for Seed round
- Ongoing use of workspace, facilities and mentoring
- Tailor-made program for each team.
- Teams who demonstrate exceptional potential may be invited to the follow-on program even after the main program has ended.
Requirements
- Within the industries of hardware, IoT, mobility, productivity, smart living, energy, health-tech, etc.
- Must have an MVP or working prototype
- Scalable business model for a growing market
- A team of at least 2 individuals with relevant experience
- Worldwide applications welcome (relocation to Riga for the duration of the program required)
Note: They know that not all businesses are built the same. If you don’t meet these precise requirements but have a great product, they invite you to apply anyway.
For more information, visit Buildit.
