AWS today announced the launch of AWS Startup Loft Accelerator, a 10-week equity-free virtual acceleration program for early stage startups in EMEA (Europe, Middle East and Africa).
Application & prizes
Participants will receive tailored training with access to experienced advisors, subject matter experts, investors, and some of the most successful global entrepreneurs who have built their business on AWS. In addition, these startups will also be able to join a large community of entrepreneurs to share knowledge, experiences and advice. They will also have options to join the program AWS Activate, which includes up to $ 25,000 in Activate credits to spend on AWS services; a free one-year subscription to AWS Business Support worth up to $ 5,000; access to built-in infrastructure templates and exclusive member-only offers.
Applications have been opened for all startups in the European Union, United Kingdom and Israel who want to develop and scale their products with AWS. The first group, out of a total of 25 startups, will start in early 2022 and the program will expand to more EMEA countries in the coming months. Interested startups can request their participation in the first group here.
What will the startups get?
AWS’s group of technical and business experts will work closely with startups throughout the process. This includes AWS solution architects, who will help startups drive the design and development of a minimally viable product. Investors, including Entrée Capital, and the founders, Bernadette Nixon, CEO of Algolia, Cristina Fonseca, co-founder of the Portuguese unicorn Talkdesk and IA startup Cleverly, and the Dr. Shay David, co-founder and CEO of the British startup Retrain.ai and co-founder of Kaltura, will work with the startups. These experts will help refine business plans and provide guidance on topics such as finance, marketing, and human resources. AWS Startup Acceleration Partners will also offer specific content as part of the AWS Startup Loft Accelerator.
“We will focus on investing in great teams that are building businesses in large and interesting markets. We are delighted to support this new AWS accelerator to provide talented and ambitious entrepreneurs the opportunity they need, ”said Eran Bielski, General Partner at Entrée Capital.
AWS Startup Loft Accelerator does not obtain any participation (equity) in the participating startups. In addition, he has a flexible weekly commitment and supports startups from both a technical and business perspective. Since it is a virtual program, founders do not have to worry about the cost of the move.
The Companies that have been through AWS
AWS has helped develop some of the most admired startups globally. From the British company of food delivery JustEat, which went from a Danish basement to a public offering (IPO) on the London Stock Exchange worth 1.5 billion pounds, to Germany-based digital bank N26, and Spanish mobility company Cabify.
“Our new AWS Startup Loft Accelerator program offers entrepreneurs exactly what they tell us is most important when starting a business: access to tools; the experience and resources they need to bring their ideas to life ”, he highlighted Kellen O’Connor, director of startups for AWS in EMEA.
Two startups that have already benefited from AWS investment in similar acceleration programs are Justt and PayEm. Both experienced rapid growth as a result of their participation in AWS Builder Space Accelerator in Israel.
“The infrastructure, support, and training we have received from AWS have been critical to the success of our startup,” explained Roenen Ben Ami, co-founder of Justt. “It gave us the confidence we needed to launch our business quickly,” he says.
Justt fights against Illegitimate chargebacks on behalf of merchants. And, since launching his startup in early 2019, he has been able to attract an international client base across Europe and the United States.
“With an increasingly competitive startup market, you have to be able to define and differentiate your business quickly, which can be exhausting. In addition to their experience, AWS provided us with an invaluable level of support. They just understood what we needed and when we needed it, ”explained Itamar Jobani, co-founder of PayEm.
PayEm is an expense management platform built on AWS that has achieved $ 27 million in Seed and Series A financing from Glilot Capital Partners.