A new batch of start-ups from across the world are being invited to apply for the third round of Katapult Accelerator in Oslo, Norway. To be selected, the start-ups must be early-stage and use exponential technology like blockchain or AI to solve a social or environmental challenge.
Haakon Brunell, Managing Partner and Co-Founder of Katapult Accelerator, remarked: “The Katapult Accelerator is the world’s first global for-profit accelerator focusing solely on impact and exponential technology. 200 impact investors from around the world participated at the demo-day for our first batch. We had access to 1,500 start-ups for the second round and we are excited to help the next batch of start-ups realize their dreams to solve global challenges,”
This third round begins in August, 2018 with applications open now. The start-ups selected will receive up to USD 150,000 investment, have access to 120+ international mentors, and receive hands-on support from the Katapult Accelerator team. At the end of the three months, the start-ups will have defined their vision, strategy, impact orientation, growth marketing and business model.
Katapult Accelerator’s most recent acceptance rate is 0.8%, as only 12 startups were selected in the second round of 1,500 applications. This second batch of start-ups, which are currently participating in the intensive 3-month program, will conclude their time at Katapult Accelerator with a presentation to hundreds of investors at the next Katapult Accelerator Demo Day on the 14th of May in Oslo.
Brunell commented: “Our goal for each company is to prepare them for their next round of investment, so that they achieve two to three times their original valuation,”
4 of the 12 companies from the first batch of start-ups have either closed or are over-subscribed on their next funding round. Additionally, 10 of the 12 companies have received an offer for further funding post-accelerator.
Brunell added: “Oslo is the perfect place to bring together companies that can solve global challenges by using exponential technology. Norway is an open, egalitarian society where trust and consideration for others are fundamental values. This is the vision behind our decision to pursue impact investments within the startup ecosystem. Katapult Accelerator is showing that you can build financial value and have a positive impact, and we are looking forward to welcoming global companies who share this vision to our shores.”