On Wednesday, Google announced a new accelerator program. Google Launchpad is an incredibly unique accelerator program. Firstly, Google Launchpad provides up to $50,000 in funding, for no equity whatsoever. That’s right, the program does not require companies to give up any equity to enter the accelerator. The first program will focus on mobile startups, from three geographic areas, but will eventually expand:
There are a large number of great ideas around the world poised to make a positive impact. The Google Launchpad Accelerator aims to empower founders with these ideas by supporting the development of their apps through mentorship and equity-free funding.
The Accelerator will leverage all that Google has to offer, to help participating apps reach their true potential. The Launchpad Accelerator will launch working with founders from Brazil, India and Indonesia, but there are plans to expand to other countries as well — so stay tuned!1
So what do you get? Well, beyond up to $50,000 equity free funding, participating teams will receive:
- A 2 week all-expense-paid trip to Google HQ in Mountain View, CA for intensive training and mentoring
- Access to Google engineers, mentors, and resources throughout the course of the 6 month program
- Credits to put towards Google services and software
- A chance for marketing spotlight opportunities
The first class has already been accepted, but you can apply for the 2016 class here.