Deadline: 1-Feb-22
Imec.istart, imec’s open accelerator program, offers tech startups pre-seed funding and tailored support to succeed and grow globally.
Since 2011, they have invested in more than 200 companies. Every year, they select around 30 high-potential startups to join the 12-month program in Belgium.
As an investor, they are in it for the long run. Together with the imec.istart alumni network, they continue to help founders on their entrepreneurial journey and beyond.
Milestones
The program helps you to you reach important milestones such as getting your startup and product ready for the market, growth and investors.
- Product-Ready: Reach a fully functioning solution.
- Market-Ready: Align your product to your target customers and refine your market and strategy roadmap.
- Growth-Ready: Acquire the necessary skills and know how to scale your business and plow through the inevitable growing pains.
- Investor-Ready: Define your perfect funding mix and convince the investor network with your polished pitch.
Benefits
- (At Least) 50K Funding: Receive 50K cash investment and optionally 200K extra if your startup performs well.
- Personal Coaching: Consult with your personal day-to-day sparring partner, strengthened by an extensive network of workshop experts, mentors.
- Tech Community: Surf on the collective wisdom of +500 like-minded digital entrepreneurs.
- International Network: Tap into the global network to scale your business internationally.
- Backed by IMEC: Leverage your connection with a globally recognized R&D and innovation hub.
- The imec.istart program fully supports you for 12 months.
- That gives you the opportunity to acquire the needed specific certifications.
Eligibility Criteria
- If you’re incorporated in another country, you can still apply.
- For startups from Europe, USA & Canada, you will have to demonstrate a link with Belgium, such as committing to set up a subsidiary / branch office in Belgium or setting up a collaboration with a local research institute.
- For startups from other regions, you will have to move your headquarters to Belgium in order for us to invest in your company.
- Imec.istart welcomes startups who have a:
- Tech product
- Working proof of concept
- Complementary founding team
Evaluation Criteria
Enhance your selection chances by coming up with:
- an idea that:
- is highly technically or technologically innovative
- responds to a clear customer need
- is backed by the outline of a business model
- has at least one clear and strong differentiator
- is ready to compete in a defined and sufficiently large market
- a core team that:
- is committed and willing to bear the entrepreneurial risk
- is capable of pushing technological boundaries
- embraces external coaching
- is ready to go global
- can show a finished proof-of-concept of the technology, including a sketch of the required actions regarding freedom to operate (FPO) and intellectual property rights (IPR)
- envisions the possibility of a break-even within two to three years
- aims at a sales figure of at least 1 million euro within three years and 10 million euro in the long term
Those last two points address the financial viability of your startup. So, you might think that they’re more important than the others. Actually, the opposite is true. If two proposals are equally strong, imec.istart will choose the one that excels in technological innovation and business orientation.
Furthermore, projects with a high societal impact are always eligible, even if they don’t score particularly high on the last two financial criteria.
For more information, visit https://www.imecistart.com/en