Google Launches Equity Free Accelerator
Google Launches Equity Free Accelerator Google is apparent and knows how to be in the limelight with great news. This time, the tech giant has launched a new accelerator program- the Launchpad Accelerator. This accelerator will offer mobile startups to people in India, Indonesia and Brazil proving training, support, mentorship and an equity free funding worth up to $50,000. Google’s Global lead said that the program has been born out of the existing launchpad programs from Google. The existing program provided start-ups and series of events and was launched 2 and half years back. Google Launches Equity-Free Accelerator
Looking on to having a more impactful startup ecosystem, the Google’s team realized that there are basically two ways to acquire and scale the efforts. Firstly, by expanding their online business presence coupled with enhanced raining tools, adding efforts like Google’s Udacity nanodegrees and launching more projects like Launchpad Days and Summits, the company which is now established in more than 30 countries. Secondly, Google wants to be capable of offering high impact mentoring relationships for some startups.
The company officials confirmed that Google is specifically looking for certain startups that can create the great impact on local market. This will help them to identify and locate the game changers and ultimately act as a game changer for them. The equity free approach is adopted so that the thoughts of ROI and equity won’t tarnish this work.
What the program will look like?
Google is slated to fly startups to Mountain View for a span of two-week bootcamps first. Within this time span, they will congregate with mentors from outside and inside of Google. This “pressure environment”, as they termed it will aid the startups to plan for their next program. The program will be of 5 and half month duration and takes place in home countries. During this time frame, these startups will work via individualized tasks that will sharpen their user experience design, marketing and go to market strategies etc. Half the mentors in the process will be Google employees and half will be the professionals from startups community.
Once trained, they will be allocated the space to work and get access to Google’s local and International mentor’s network. Moreover, they will also be given credits to use Google’s developer platforms. Google has planned to bring in about 50 new startups into the accelerator program annually. However, the company is hoping to work with other 200 or more in more hands off the program. The fact is Google wants to make it as flexible as possible.
Apart from making differences to the individual startups, Google is also planning to make an impact on the ecosystem of wider startups in various countries by building the alumni network. Google has expected to expand the programs to new additional countries in a longer run. In case, you are from Brazil, Indonesia or India, you can apply now to become a part of the second class, which will begin in mid-2016.