IKEA launches accelerator for start-ups creating solutions to everyday problems
The three-month Sweden-based programme will offer a €20,000 grant along with co-working space, tailored mentorship and living accommodation
IKEA, along with entrepreneur co-operative Rainmaking, is inviting start-ups that are innovating new solutions to everyday challenges to apply for IKEA Bootcamp, its new accelerator.
Open to businesses around the world, the three-month programme will see IKEA and Rainmaking collaborate with 10 start-ups to develop products or services that are affordable, accessible and have “a positive impact on the planet and society”.
Based in Älmhult, Sweden, the programme will offer participating start-ups co-working space in the IKEA Range & Supply Democratic Design centre, including access to the prototype shop, test labs and in-house expertise.
The selected start-ups will also benefit from a €20,000 grant, tailored mentorship from an IKEA business professional and Rainmaking’s network, and free accommodation in Sweden for the duration.
The retail giant has said that it may look for opportunities to continue working with each start-up after the programme, potentially through becoming a client of the business, licensing its technology or investing in the company.
Alex Farcet, partner at Rainmaking, commented: “We believe that the IKEA scale and impact merged with our network and experience from building start-ups and innovation programs will provide a great environment for the start-ups.
“The program will help them speed up their development and create innovative products and services that truly have a positive effect on people’s lives.”
Applications for IKEA Bootcamp are open until 6 August, with the programme running from 18 September 2017 until 8 December 2017. To find out more, click here.