Indico Accelerator Powered by Google for Startups will match top global mentors with program participants
Lisbon, 21st of April – Indico Capital Partners and Google are joining forces to launch a premier Lisbon based accelerator to boost the Portuguese ecosystem. Indico Accelerator Powered by Google for Startups will be managed by Indico, which will select between 6 and 10 companies to receive mentorship from top tech founders and from executives from all over the world in addition to the support from the Indico investment team. The Lisbon based accelerator will launch with the aim of finding companies with amazing products that address global market needs, with clear business models and great all-round teams.
According to Stephan Morais, Managing General Partner at Indico, “When we started this partnership we could not imagine that this pandemic would change the whole world with deep health, social and economic consequences. But it is at times like this that we must believe in the best of our country. The Portuguese tech scene is strong and this partnership with Google will prepare our entrepreneurs for the new cycle.”
In this partnership, Google for Startups will help startups build and scale great products by matching them with the best of Google: its network, mentors and technologies. “Startup teams have to quickly learn all aspects of creating, running, and scaling a business, especially when facing hard challenges like the ones this crisis has brought. In this accelerator, Google will offer its network of mentors and experts that can help in different needs and to address the current moment”, explains Nuno Pimenta, Industry Head for Startups, Retail & Travel in Google Portugal.
The accelerator will be deeply embedded with many other actors of the Portuguese ecosystem such as universities, investors, incubators or Startup Portugal. In the context of the National Plan for Digital Transition, Secretary of State André de Aragão Azevedo commented that “we are delighted to see initiatives such as this one, so aligned with the objectives set forth in the Digital Transformation Agenda. Indico´s investment and the partnership with Google are clear signs of the confidence of the private sector in the technological capacity of Portugal, a growing sector for the economy.”
Focused on pre-seed tech companies, the accelerator will feature labs that will be complemented by Google for Startups partners technical content and programs. The 6-month accelerator will be included in a 12-month incubation period at Indico’s offices or online if needed.
In addition, the accelerator will be funded by the Indico Acceleration Fund I which will be launched by Indico. The fund will select from 6 to 10 companies per year and the selected startups will receive €100 thousand investment for an equity stake in the company. Companies will also have the prospect of receiving follow-up investment from Indico’s Fund I, recently closed at 54 million euros. Applications will be done through Indico’s website.