Vilnius hosts a new IoT startup accelerator

On the last week of October, OCC Vilnius, together with partners from Madrid and Zoetermeer, took up the torch from their Project colleagues in Dublin to host their local Startup Scaleup Acceleration kick off weeks. This marks the start of a new accelerator programme for startups developing Internet of Things (IoT) technology.

On 26–30th October, 10 promising IoT startups from local and foreign ground turned up to the first session of accelerator, dubbed IoT’ers week. The intense week full of activities, lectures, and workshops, covering all the basics of building and scaling a business, featured such widely renowned names like Jeff Burton, the founder of EA, Calum Cameron, managing director at Startup Wise Guys and Cristobal Alonso, entrepreneur and co-founder of MOBOfree. Other speakers included successful startup founders, legal, negotiation & communication specialists as well as experts in EU funding and R&D. Mentors shared lessons on business strategy, marketing, investment attraction and development of a top par hardware, software, and UX, among many other topics.

During the rest of six-month long acceleration program startups are provided with specific software for the development of their business, an online resources guide, including videos, courses, and peer support forums, as well as further mentorship. Additionally, startups are allowed to use a variety of services and facilities available at each of the participating European hubs in Spain, Ireland, the Netherlands and Lithuania. Together with the possibility to contact venture capital funds for possible expansion of investment this makes for an attractive opportunity to enter into any of the participating markets.

Startup Scaleup is a unique project providing 50 of the most promising IoT startups with an acceleration program happening simultaneously in 4 different European Hubs. This first class ecosystem for IoTS startup development aims to provide entrepreneurs with an advanced network of mentors and a chance to achieve second round funding all for 0% equity. It takes part under the Startup Europe initiative to foster entrepreneurship in the business environment of new technologies in the EU.

IoT’ers week Vilnius was hosted by Vilnius Open Coffee Club, an entrepreneurs-enabling organization specializing in startup development and capital raising through its extensive network of owners, developers and investors.

published on December 2, 2015