The Global Startup Ecosystem 2021 analysis ranks Silicon Valley and New York as the first and second most favourable regions for startups. The good news is that acceleration programmes in the US are available to faunders from all over the world. In this article, we continue to discuss three US programmes and opportunities available to Central Eurasian innovators - Alchemist, Amplify.LA and Plug and Play. Read more about Y Combinator, TechStars and 500 Startups in our previous article.
Alchemist – apply until 2 September
One of the best accelerators for B2B startups is Alchemist. There are 20-30 companies per set. Acceleration lasts for 6 months, allowing startups to better learn the market if they plan to enter the US.
Alchemist selects strong tech teams with outstanding tech founders. It has been operating since 2012 and is considered almost number one for B2B startups. Alchemist greatly accelerates the development of projects at the initial stage; the mentors of the accelerator are specialists from the world's leading IT corporations. The winners of 25 teams receive an average of $25,000 for development.
In return, the accelerator wants around 5% of the company's equity, but Alchemist promises they are willing to adjust the request for companies in later stages of development.
Startup areas: Internet of Things in Industry, FinTech/Cybersecurity, Climate Technology and others.
Deadline for applications for the current programme: 2 September
Another California-based accelerator focusing on pre-seed stage technology projects is Amplify.LA. The accelerator is headquartered in Los Angeles, and companies that are based in that region have much easier access to the programme. Qualified startups give Amplify.LA a 10% stake, in return for $100,000, office space and access to a network of mentors.
As the company specifies, they prefer to invest early, often being the first investor in many of the companies, but sometimes they raise additional capital from a network of funding partners.
Plug and Play
Plug&Play (PNP) links B2B start-ups developing innovative technologies with Fortune 500 corporations. The accelerator does not take a stake in the company, but is monetised through partner corporations. The main focus is not so much on attracting a round, but rather on piloting the technology within the corporations and working out how the products meet market needs.
Plug&Play has its own subdivision in Kazakhstan - in partnership with Astana Hub and Transtelecom. Their aim is to attract highly skilled entrepreneurial talent to Kazakhstan and help local start-ups connect with partners internationally.
The last launch of the accelerator in Kazakhstan was this spring. It attracted 20 startups, including from other Central Asian countries, from the following fields: cloud technology, 5G, cybersecurity, AI, Internet of Things and other areas.
To not miss the next stream, stay tuned to the accelerator's website for updates.