European tech accelerator Startupbootcamp announced this week that it is launching a smart city program in Berlin and San Francisco.
The accelerator’s Smart Transportation and Energy cross-continental program, to be run out of a new facility in San Francisco and Startupbootcamp’s existing premises in Berlin, aims to support start-ups working in the areas of smart mobility and vehicles, logistics and supply, location-based services, sustainable energy and data services, amongst others.
Each accelerator will select what it considers to be the 10 best smart city start-ups from around the world and invite them to take part in a three month program in return for eight percent equity of their business.
Each successful team will receive €15,000 (over $20,600) and six months free office space in either Berlin’s Rainmaking Loft, a 1,000 square metre coworking space in Berlin, or in the future San Francisco home of Startupbootcamp.
Startupbootcamp said the start-ups will also receive extensive mentorship from over 100 entrepreneurs, investors, and corporate partners. Partners include HERE, the global maps and location intelligence business of Nokia; electric utilities company EnBW; automotive corporation Daimler; network provider Cisco Systems; Castrol’s innoVentures, Castrol’s innovation arm, and global supplier of technology and services Bosch.
The accelerator claims the overall package is worth more than €400,000 ($550,000) to each start-up.
Alex Farcet, co-founder of Startupbootcamp and project leader for both cities, said: “Projects like Hyperloop and Amazon drones, and progress in connected vehicles and augmented reality are sparking founder imagination and attracting investor attention. We felt the time was ripe to focus on this booming vertical.
“By launching in both Berlin and San Francisco we can harness the power of our knowledge and networks across two continents.”
Uli Huener, head of innovations at EnBW said: “The energy world is changing, both loudly and radically. Within the industry there is an innovation battle raging. As a founding member, EnBW is looking for smart startups that want to achieve something in business. The potential for good innovations in the energy industry is greater than ever before.”
Story : Techworld.com