Springboard aims to help early stage startups. The program offers seed capital, office space, and "most importantly - that magical ingredient of 'smart-community' with mentors and other entrepreneurs." It's a 13-week program, based at Cambridge University's ideaSpace. Participants will receive £5,000 per founder (to a maximum of three founders) for which Springboard will accept 6% of founder shares.
According to Springboard, the program is a modelled after Y Combinator and TechStars, but adapted to suit an international environment. Over 50 mentors have signed on to participate, and as with its American counterparts, the program will end with a "Demo Day" where participants will be able to present their companies to prospective investors.
Springboard points to the success-rates among startups who enter these sort of accelerator programs, noting that over 50% of them have succeeded in raising their next round of funding.
Applications for the Spring 2001 program are now open.