EcoMachines Incubator is looking for seven early-stage startups, in the high-value manufacturing and advanced engineering space, to join its nine-month accelerator programme starting this November.
Participating startups will receive £100,000 in equity funding as well as access to mentorship, industry partners and investor network. Succesful graduates of the accelerator programme could benefit from a further £500,000 of follow-on funding and continued support by EcoMachines Incubator.
Ilian Iliev, CEO and fouder of EcoMachines Incubator, said: “ In recent years, investors have shied away from investing in hardware because of its perceived difficulty. We want to make the hardware space attractive for investors again.
"We still depend on hardware for everything we do. Yet the lack of innovative funding models for early-stage advanced engineering startups is holding back the potential of both UK and international entrepreneurs to address some of the world’s most pressing problems. At the moment, the process of building a hardware company takes far too long. We will use Lean Startup principles to help companies achieve through our nine month accelerator programme what it would take them two years or more to do on their own.”
Professor Nelson Phillips, from Imperial College Business School, said: “The arrival of the seed funding accelerator model in the energy and cleantech hardware space is an exciting development. Investors have been attracted to the digital media and internet space due to the fast time-to-market, relatively low capital requirements and high profile stock market exits. Hardware, has yet to see these same business and cost model innovations. EcoMachines' innovative investment model addresses many of the problems with current approaches to investment in hardware and engineering."
EcoMachines Incubator is focused on companies working in energy, cleantech, transportation and industrial high-tech fields. Interested companies can apply to participate in the accelerator programme at www.ecomachinesincubator.com/how-to-apply
About EcoMachines Incubator:
EcoMachines Incubator provides seed investment and acceleration support for startups in advanced engineering and high-value manufacturing with a focus on energy, cleantech, transportation, industrial high-tech and sustainable cities. EcoMachines Incubator was founded in early 2013 by Ilian Iliev, a serial entrepreneur. The Incubator is backed by high networth investors with a portfolio of activities in industrial high-tech and digital media.
To learn more about EcoMachines Incubator and the accelerator programme, please visit www.ecomachinesincubator.com
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Contact details:
EcoMachines Incubator Ltd.
6-8 Bonhill Street, London, EC2A 4BX
(t) +44 207 1939 041
(e) [email protected]
(w) http://www.ecomachinesincubator.com