Alchemist, the startup accelerator company recently announced that it will be expanding to Europe. For this, it has launched an initiative targeted specifically at startups in European countries.
Alchemist Europe is set to open an office in Munich, Spain, & will be its 1st Europe focused project even though the company already opened its doors to 25 European startups in its United States program.
Just like Alchemist in the US, Alchemist Europe will focus specifically on founders who earn their revenue from Enterprises. The goal is to help them to build their startups by leveraging the Alchemist network & global footprint which includes over 3000 faculties & 5500 investors & mentors to find customers & potential investors for startups with global aspirations.
The Europe program will be focusing exclusively on industry 4.0 which includes fields like robotics, power generation, industrial IoT, mobility, artificial intelligence, virtual reality & so on.
Alchemist’s Europe division will be headed by Ethan Prater as Managing Director. Prater was the Vice President of product for Castlight Health.
The company expects its first class of startups in Europe to have their Demo Day by 2020. Alchemist Europe will further increase the reach of the accelerator program which has already funded over 300 startups with a total of $794 million in venture capital funds in its 7 years of operation in Silicon Valley.
Alchemist Europe will still enjoy the support of the US program remotely. The division is also starting with a strong partner in the region. Alchemist will be partnering with Next47, the venture capital arm of Siemens AG also based on Munich. Next47 has already invested $2.5 million in Alchemist Europe has part of this deal. The company joins a list of growing partners & investors which include big names like the Mayfield Foundation, Khosla Ventures, DF, Cisco, Juniper & so on who are already partners with Alchemist US.
Image Credit: Alchemist Accelerator
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