BuildIt Accelerator of hardware startups
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Accelerator of hardware startups
A startup accelerator in Europe
specialized in robotics, electronics, gadgets
Why? Theres a hardware revolution underway.
Its a shift that Silicon Valley has taken note of in the last couple of years. Hardware startups are increasingly sharing the spotlight with software companies. Take Nest, the smart thermostat; Lytro, a camera that lets you adjust point of focus; and Pebble, the smartwatch
that broke Kickstarters funding record with more than $10 million pledged (Wired)
Technology innovations during the last decade have made it possible to have a similar efficiency play in hardware as we have witnessed in software. This means huge potential for new start-ups.
Where? Tartu, Estonia (in Northern Europe) and how?
Its a great location for the development phase, prototyping and testing of new hardware products. We have high-quality mechanical, electrical and software engineering, excellent facilities offering complex product development services in the field of precision mechanics and mechatronics with focus on offering 3D design and prototype production services (see www.protolab.eu). Manufacturing can be organized in cooperation with strategic partners in Estonia and Finland (small-scale), China and Taiwan (large-scale). Buildit seed-fund is raised from regional angels. Buildit connects startups to 50+ investors in the Silicon Valley, UK, Israel and China. Follow-on funding & networking are of key importance, therefore trips to investor hotspots and big hardware events are part of the program.
Success stories from estonia so far? Some examples.
program for new global success stories in hardware:
Click&Growsmartpot that grows
plants without watering and fertilizing
received 625000 USD (more than 10400
backers) at Kickstarter
shaka wind measuring device
for wind sports (wind surfing, sailing, golf, etc.). The first wind meter for iPhone. The company also participated in the HAXLR8R accelerator
Fits.meVirtual fitting room,
SaaS solution based on sophisticated robotic mannequins. Series A
investment in the company close to 5.5
Intensive 3-month mentoring & development program
+ 1 month investor roadshow (UK, US, China) + alumni program
World-class mentors from top engineering and
technology giants (ABB, Ericsson, Siemens), and local start-up successes (Click&Grow, Fortumo);
research institutions (Stanford, Berkeley, Tsinghua)
15k EUR investment per start-up
for 10% equity
2 batches annually,up to 12 teams per batch
Accepting strong applicants
Business + Technology & Design track- Business model development- Free office space & business service deals - Product development, prototyping, testing - Contacts with trustworthy manufacturers
who is on board?
BuildIt is run by an experienced international team with engineering/hardware, business development and start-ups background
Team: Aleksander Tnnisson (CEO), Andrus Aaslaid (CTO), Kadri Uus (Project Manager),
leading experts and strategists: Toomas Noorem (Tartu Science Park), Rene Tnnisson (Baltic Innovation Agency)
advisory board members: Dr. Burton Lee (Stanford University), Dr. Hongxin Tan (Tsinghua University,
International Technology Transfer Centre), Mattias Lepp (Click&Grow), Kamran Elahian (Global Catalyst Partners).