During the last year, we’ve had heaps of exciting programs aimed at bringing startups and corporates together. These programs are vastly different, operating in different industries, with different companies and a variety of startups. What they have in common, is a curated scouting phase to ensure we find and attract the best startups with the perfect fit for the program.
Here are some insights into the applications for our programs in 2016/17.
In total, the 2016/17 programs received 975 applications, with an average of 82 complete applications per program. 219 startups entered Beta-i programs, with 101 moving to the final stage and 79 developing pilots with our corporate partners.
We will choose Quality over Quantity any day of the week. Still, having access to a large pool of startups in programs where the goal is to reach up to 10 pilots, it’s vital to ensure that those selected few were chosen from a competitive batch.
The vast majority of the applications were made by startups founded less than 4 years ago (94%). More than half of the startups were founded in 2016 (35%) and 2015 (23%). These are early stage, pre-seed and seed startups with ⅓ having received some funding prior to applying. Yet, the stage of the startups depends largely on the programs’ end goal in terms of intended collaboration.
The startups who applied originate from 59 different countries, creating an international environment of startups that, with the right partnerships, can translate into an opportunity for all parties to reinforce their international networks and reach. Continually pushing for a global mindset.
In total, more than ⅔ of the applications came from outside of Portugal. The countries with the most applicants (in descending order) are Portugal, USA, France, Spain, UK, Germany, Italy, India, Switzerland, and Ireland.