Madrid home to new start-up accelerator for IoT companies

3 Nov 2015101 Shares

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Following the launch of the Startup Scaleup Project in Madrid last week by Startup Europe, the city will play host to a new accelerator programme for companies developing internet of things (IoT) technology.

The Startup Scaleup Project launch saw 14 start-ups in the sector across several European countries – including Ireland – take part under the Startup Europe umbrella, an initiative of the European Union (EU), to foster entrepreneurship in the business environment of new technologies.

Under the project, start-ups will receive mentorship and specific software for the development of their business, as well as the possibility to contact venture capital funds for possible expansion of investment.

According to Startup Europe, the project will combine physical and virtual acceleration and is led by Universidad Politécnica de Cartagena and BluSpec in Spain; Open Coffee Club Lithuania; F6S in the UK; Crosspring Lab from the Netherlands and, of course, Ireland’s DCU Ryan Academy.

The first week of the accelerator is dubbed IoT’ers week and will be located at each of the nation’s centres and will include an intense schedule of activities, lectures and workshops covering all the basics of scaling a business.

Additionally, there will be an online resources guide available for start-ups, including videos, courses and peer support forums, with support across all of the hubs to help each other gain a foothold in each other’s markets.

Madrid at night image via Shutterstock

Colm Gorey is a journalist with Siliconrepublic.com

editorial@siliconrepublic.com