/ News / Rockstart opens applications AI accelerator with guaranteed €200.000 for finalist

Rockstart opens applications AI accelerator with guaranteed €200.000 for finalist

The first European AI accelerator program starts in October 2017, startups can apply now and when selected move to Den Bosch to add business value as an AI startup.

Rockstart AI accelerator applications

The application for the first AI accelerator program in Europe opens now for a period of six weeks. After six weeks, ten best startups will be selected. They will move to Den Bosch from October 2017 on, following the program and getting access to the market, capital, community and expertise through Rockstart’s extensive network of investors, mentors, partners and alumni.

“At Rockstart, we already have experience accelerating AI startups, so we know how difficult it is to apply AI in a meaningful way,” said Rune Theill, Rockstart co-founder and CEO. “We’re therefore looking for startups across all industries applying artificial intelligence to solve real problems and add significant business value.”

Benefits

Besides the Rockstart framework, network and experience selected startups for the AI accelerator will receive €20.000 cash and €80.000 in-kind funding, office space in Den Bosch for the duration of the program and more than 50 perks and deals to the value of €600.000, in return for a six percent stake of the startups entering.

Additional Rockstart announced that one of the lead investors of the accelerator program committed to invest at least €200.000 in an AI startup of their choosing after Demo Day in February 2018.

The startups selected for the AI accelerator by Rockstart will receive €20,000 cash and €80,000 of in-kind funding, office space in Den Bosch for the duration of the program, support from mentors from relevant industries, as well as more than 50 perks and deals worth some €600,000. The accelerator will take a 6 percent stake of the startups entering the program.

“The biggest opportunity that an accelerator provides is a way to connect with bigger companies that can become the launching customers for startups,” said Jane Zavalishina, CEO of Yandex Data Factory and a mentor at Rockstart’s AI program. “What I hope I’ll be able to bring to the table is that translation between the technology, its capabilities and the opportunities it brings, into the actual day-to-day life of the business, which isn’t always ready to incorporate scientific approach. It’s a two-way road: businesses will need to learn how to do that, but on the other hand, I think, the most promising AI startups are those who bring these technologies closer to the current business processes in the companies, make them easier to use in real-life situations.”

Sabine de Witte

Sabine de Witte successfully failed her own startup and embraced the lessons she learned to connect startups and investors. She helps startups with pr and online communications, writes about tech as a journalist, judges events as a ‘pitch bitch’ and travels the world as startup spotter.

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