Springboard has launched a new mentorship-led accelerator program for European startups. Springboard debuted in 2009 as an “accidental incubator” emerging from the company Red Gate Software.
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.
