In collaboration for a report detailing the societal benefits of Artificial Intelligence in South Africa, the Boston Consulting Group, Microsoft South Africa including Wits…
THINK, a Swedish-based zero-equity accelerator, has opened a call for applications from early-stage tech startups from around the world. Applications close on 27 August.
Those startups that are selected to join the three-month global accelerator will benefit from the accelerator’s international network of mentors, access to investors, free office space in Helsingborg (near Malmö) tailored coaching and access to $300 000 worth of services from companies including IBM, Google, Amazon, Microsoft, and Hubspot among others.
THINK has two tracks that startups can choose to apply for. THINK Accelerate is aimed at early-stage tech startups with a focus on software as a service (SAAS), platform as a service (PAAS), ecommerce, fintech, eSports, health tech, virtual reality (VR), augmented reality (AR) and artificial intelligence (AI).
The second track – THINK Smart – is aimed at assisting smart city startups with solutions around urban planning, waste management, smart building, smart homes, smart mobility, smart energy and open data.
Graduates of THINK’s programme will be eligible to participate in non-profit Connect’s investment springboard programme. The programme will see participating startups receive investment support from the company for a month, including a dedicated business mentor. Thereafter they stand to benefit from Connect’s network of over 150 business angels.
THINK startups have raised over €5,2-million in capital, helped support startups
Since it was launched in 2012 the global accelerator has held five cohorts including participants from Egypt, Kazakstan, Brazil, Argentina, Sweden, Germany and Russia. THINK has helped launched 46 successful companies and funded up to 30 startups, with one successful exit.
Additionally, 65% of startups that have gone through the accelerator have gone on to raise a collective €5.2-million in capital and launch disruptive solutions across e commerce, finance and construction with 85% of the companies still active.
“The success of an accelerator is measured by the success of its startups, we really are proud of what our startups have achieved and are honoured to have been part of their journey,” said Alexander Bastien, managing director of THINK in a press release.