A total of ten German startups were selected to work with the new German Acceleratorprogram JumpStart to spend a month in Silicon Valley. Among them are Retorio, Mitakus analytics and Ciara also three Munich startups.
In the first months of a startup's life, founders face new challenges every day: financing issues, uncertainty about the product and its market positioning, differentiation from the competition, and the best market entry and internationalization strategy. Collaboration with mentors and experienced entrepreneurs is especially valuable during this phase.
“Avoid fatal first mistakes”
The concept of JumpStart is precisely designed to support these challenges. The program's target group is startups with teams of two to 15 employees. Sales are not required, nor does the product need to be mature – a contrast to the main German Accelerator program, which has been supporting startups with internationalization since 2012 that have already established themselves in the German market. The focus of the newly developed program is different:
"JumpStart enables very young companies to immerse themselves in the unique ecosystem of Silicon Valley and be inspired by it. At the same time, we help founders avoid fatal early mistakes that have brought down so many startups with a proven curriculum and individual coaching from our local team of experts."
commented Michael Meirer, CEO German Accelerator Silicon Valley.
Here's how JumpStart works in practice: The selected startups move to Silicon Valley for a month, where they are provided with free office space and equipment. There, they have access to German Accelerator staff and mentors, with whom they work individually on their current challenges. Additionally, small workshop groups work on specific topics each week, such as developing a marketing and sales strategy. The Munich-based startup Ciara is one of the first startups to venture across the pond—at least for four weeks. Retorio and Mitakus analytics—also from Munich—will follow in the coming weeks.
Springboard for the main program of the German Accelerator
At the end of the four weeks, successful participants can apply for the three- to ten-month main German Accelerator program in Silicon Valley and New York, or for the five-month program in Southeast Asia. JumpStart is free of charge; participants only need to cover their living expenses. The selection committee reviews applications monthly. Applications are possible at any time.
