Virgin Media launches start-up accelerator with Techstars
Entrepreneurs focused on the Internet of Things, social enterprise and connected homes are encouraged to apply for three month programme
Virgin Media Business has today announced the launch of a new accelerator to support “innovative and disruptive” digital start-ups across the UK, in partnership with global technology accelerator Techstars.
The three-month accelerator programme is targeted at those start-ups involved in the Internet of Things (IoT), telecom infrastructures, customer data and experience, social enterprise, connected homes, connected goods and services, interactive home experiences, connected business services, home health and wellness, and “connectivity for social good”.
10 businesses will be chosen to take part in the initiative with access to Virgin Media and Liberty Global’s senior experts, as well as Techstars’ 7,000-strong network of founders, mentors, investors and corporate partners.
Upon entering, each start-up will be eligible for up to £78,000 in funding – made up from an initial £13,000 for 6% equity and an additional £65,000 convertible loan for an extra 4% stake.
At the conclusion of the programme, the 10 companies will pitch to investors at a ‘Demo Day’ in London for the chance to secure investment.
Peter Kelly, managing director of Virgin Media Business, commented:“Supporting businesses of all sizes is at the heart of Virgin Media’s purpose. Virgin Media Accelerator will give the most exciting digital start-ups a phenomenal opportunity to learn, develop and grow.”
David Cohen, co-founder and managing partner at Techstars, added:
“New technologies enabled by improved networking and connectivity have become critical in all aspects of our personal and professional lives. Techstars is excited to partner with Liberty Global and Virgin Media, two worldwide leaders in this space, to bring a new, connectivity focused accelerator programme to start-ups worldwide.”