On Monday, Virgin Media announced that they had partnered with Techstars to create a new Connectivity and Digital Innovation Accelerator, based in London. While the ‘Connectivity and Digital Innovation’ focus seems like it could be a bit limited, Techstars and Virgin Media will accept any company into the program that can, “simplify the complex related to IoT, telecom infrastructure, customer data and experience, social enterprise, connected homes, connected goods and services, interactive home experiences, home health and wellness, connected business services and connectivity for social good.”1
The funding that Virgin Media Accelerator provides is structured along the lines of all the other various Techstars powered programs:
On entering the programme, each company has the option to receive up to US$120,000 (approximately £78,000) of funding in exchange for an equity stake and convertible loan note.2
The additional benefits are, again, structured very much like all the Powered by Techstars programs:
- A 90-day programme with intense, hands-on mentorship from expert mentors.
- Access to a network of investors.
- A work space in central London for 3 months with everything you need onsite from executive assistants to personal trainers.
- Access to Techstars resources for life and connections to the Techstars network of over 7,000 founders, alumni and mentors globally.
- Over 300 perks worth over $1M. From within our network we’ll source a whole range of benefits and special offers for our founders. Everything from office support, analytics tools and project management platforms, marketing services and more. Name your start-up needs and we’ve got it covered.
- After Demo Day, you’re going to need some recovery time. So the 10 participants will get the choice to either rest and recuperate in Chicago staying at a branded hotel you might just recognise. Or take the chance to head to Silicon Valley for further meetings with potential investors.3
The Virgin Media Accelerator is 22nd such accelerator program that Techstars is directly involved in. This move, combined with Techstars’ acquisition of UpGlobal earlier this year, displays the Boulder based groups commitment to building a global entrepreneurial network. They are well on their way.
Applications for the Virgin Media Accelerator are open now, and close on 9 January 2015.