Intel to “Ignite” Startups in Austin, Texas, and Munich
15 September, 2020
Started in Israel in 2019, the Intel Ignite program provides startup companies with Intel’s Know-how and Industry Connections. Intel CEO Bob Swan: "It has a strategic impact"
Above: Intel CEO Bob Swan. “It has far surpassed our expectations”
Intel announced the launch of two additional Intel Ignite sites in Austin, Texas, and Munich, Germany, following its success in Tel Aviv, Israel. Intel Ignite is a startup growth program launched in 2019. It is a 12-week program for 10 early-stage startups that receive hands-on mentorship from Intel and world-leading experts. Participating companies will gain access to technology and business leaders.
“We launched Ignite in 2019 both to support early-stage companies on their journey to success and to provide Intel employees with an opportunity to advance our purpose,” said Intel CEO Bob Swan. In its first year, the Ignite program’s achievements have far surpassed our expectations and because of its strategic impact, we are expanding its reach.”
Following Austin and Munich, Intel plans to establish the program in multiple cities throughout Europe, North America and Asia. Intel Ignite team chose Austin and Munich because both cities are home to Intel sites with top-tier startup ecosystems. The Ignite program in Munich and Austin will start in the first half of 2021. All three programs will have a physical base at the center of their local startup ecosystem.
Criteria for interested companies include a minimum of $1 million in funding (seed, series A), an experienced founding team, significant IP and a large market opportunity. Intel Ignite General Manager Tzahi (Zack) Weisfeld: “The startups we look for are fearless, pave new paths and are not afraid of taking bold steps. Intel employees engaging with the startups in Ignite are challenged to work more nimbly and creatively, and they gain perspective on how other companies and entrepreneurs operate, producing fast results and significant business outcomes.”
For more information: www.intel.com/ignite.
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