Two days ago, Springboard Internet of Things (“IoT”), the London and Cambridge-based accelerator program, announced it is adding Kickstarter as an additional funding option alongside the traditional Investor Day to become the world’s first accelerator to integrate crowdfunding as part of its program.
At the conclusion of the Springboard IoT program the teams will simultaneously launch Kickstarter projects , as appropriate, alongside the traditional Investor Day when they present their business propositions to Venture Capitalists and Angel Investors.
Accelerator programs and crowdfunding are two of the most significant advancements in financing for startups. The experience, expertise and knowledge that Springboard IoT can offer teams will substantially reduce the risks associated with planning and executing a Kickstarter project. Meanwhile the Kickstarter platform will allow teams to test their products in the real world, lowering the risks of failure and enhancing the opportunity to raise further finance if they reach the projects’ goal.
Jon Bradford, co-founder of Springboard commented:
“We are constantly looking to find ways to evolve and improve the accelerator model. We believe that the combination of an accelerator for the Internet of Things and the crowding funding platform Kickstarter are a perfect fit.”
Springboard has also confirmed additional program partners Bosch, Cosm, Living PlanIT and Nokia Growth Partners. Each core partner will play an active role in supporting the selected Springboard founders, as well as providing senior mentors to those accepted to the program.
Finally, Springboard is proud to announce that it has partnered with Makespace based in Cambridge to help provide the Springboard teams access to the specific specialist resources that might be required for rapid prototyping equipment such as 3D printers and laser cutters, and kits for electronics, woodwork and textiles.
Springboard Internet of Things IoT is an accelerator program that accepts the ten best teams in any area of IoT technology, from bright idea to Series A funding. Participating founders will receive more than $150,000 of free services, seed capital and mentoring from more than 100 industry leaders around the world, in an intensive three-month bootcamp.
Springboard IoT has a wide variety of mentors who have vast experience as investors and/or entrepreneurs in this space including, Hermann Hauser (Amadeus), Sherry Coutu, Niall Murphy (Evrythng & The Cloud), Usman Haque (Cosm & Pachube), Pilgrim Beart (AlertMe) and Brad Feld (Foundry Group & FitBit).
Springboard IoT is part of Springboard, an established accelerator program with historical funding success rates in excess of 70%. Last year Korean startup and media translation service Flitto took part in the 13 week Springboard Mobile program along with 10 other teams. Entrepreneurs have until 13 January 2013 to compete for one of ten places on the program and can apply for a place at www.springboard.com/iot.