Startupbootcamp launches ‘Scale’ programme
Written by Chris Lemmon
HSBC and Visa are among the partners of a new FinTech development programme called Scale, launched by Startupbootcamp for growth stage startups in emerging markets.
Scale will work in addition to Startupbootcamp’s traditional accelerator programme aimed at early stage companies. But the new scheme will target startups in post-accelerator stage (pre-Series A funding) looking for a customised approach to help them solve challenges in areas such as business development and expansion.
The first Startupbootcamp Scale programme will focus on the FinTech sector and take place in Mexico City, following the inaugural Startupbootcamp FinTech accelerator programme. Corporate partners on board for Startupbootcamp Scale include Visa, Fiinlab powered by Gentera, BanRegio, HSBC Mexico, EY Mexico, IGNIA and White & Case.
The Scale programme is designed to facilitate collaboration with corporate partners to help develop tools for the selected startups to scale quickly in new markets or develop businesses in existing markets. Companies will be required to be on-site once a month for various activities, including workshops and masterclasses, mentor meetings and networking events, over a period of six months.
Each participant will receive a cash grant of $30,000, while Startupbootcamp will take up to four per cent equity in each startup that joins the programme.
Nektarios Liolios, CEO and co-founder, Startupbootcamp FinTech, said: “The idea for Startupbootcamp Scale grew from a recognition that there is a necessity to focus on addressing the needs of startups with validated business models. An innovation programme like this doesn’t exist that is targeted at working with companies looking to scale up their businesses, specifically in regions that are emerging as hubs in a particular industry.
“Our industry knowledge combined with intimate understanding of key markets means that we are equipped to deliver a programme that benefits both the startup companies and corporate sponsors.”