Startup Bootcamp expanding to U.S.
Dutch company Startup Bootcamp is opening two new branches in the United States - one in New York and one in San Francisco. The company is also opening new offices in Mexico and South Africa.
Company founders Ruud Hendriks and Marc Wesselink confirmed this to the Financieele Dagblad.
Startup Bootcamp currently has 12 offices in Europe and one in Singapore. The company helps startup companies for several months to several years to accelerate the build of their business, by offering them a starting capital of 15 thousand euros and access to a large number of experienced mentors. In return, Startup Bootcamp receives an 8 percent share in the new companies.
The company mentors up to 10 new companies per branch every six months. "A program of then startups costs 1.5 million euros per year." Hendriks said to the FD. "We do two programs per year at each branch. The majority is financed by sponsors, through which we risk little ourselves."
In the United States Startup Bootcamp will face competition from three main players in the same field - Y Combinator, Techstars and Brandery.