Malmö can be the next hot spot for startups in Europe with a new accelerator that aims to attract international tech startups and encourage more women entrepreneurs to take part in the program. Fast Track Malmö is a joint project by ALMI Invest, Minc, Malmö Startups and Invest in Skåne who teamed up to attract promising technology companies worldwide and create a better startup ecosystem in the region, writes 8till5
The newly established accelerator will select five outstanding startups and provide them access to valuable resources through world-class mentors, international sponsorship packages and an early investment of 200 000 SEK (over 21 000 EUR). The selected startups shall be ready for external investment within five months in the accelerator, so they are required to have a complete team and a finished idea when they enter the program.
Opening the accelerator is a collaborative project of four organisations in the region: Almi Invest, Minc, Malmö Startups and Invest in Skåne – each of them bringing their specific expertise to the table. Almi Invest, Sweden’s most active investment company, investing in 50-70 companies per year on average, will contribute with contact network of potential investors and board members. Minc will be responsible for the premises and business development. Malmö Startups will focus on strengthening the ties between the startup community in Malmö and the surrounding region. Invest in Skåne’s mission is to help international companies who intend to invest in the region and to support businesses from Skåne to grow internationally.
High availability of talent, affordable housing and a unique startup culture are already strong incentives for startups in Malmö. The accelerator will take advantage of the region’s vibrant entrepreneurial community to help startups get investment fast and launch their products globally, while also bringing benefits to the city.
“It produces a ripple effect and leads to more job opportunities. Not only in startups but also across several industries,” says Hampus Jakobsson, mentor at Fast Track Malmö and an active entrepreneur in the region.
The actors behind Fast Track Malmö also expect to broaden the diversity in the startup scene. For this purpose, the accelerator will have an equal amount of men and women in the mentors provided by Minc, as well as actively target female entrepreneurs.
“We are working to have a program that is directed as much to men as to women and to different nationalities,” says Joel Larsson, program responsible for the accelerator.
Application will be open until the 25th of November. The first five-month accelerator program will then start on December 1st. For more information on this joint initiative and the application process, go to Fast Track Malmö website.