Startupbootcamp, “one of the world’s leading” early-stage start-up accelerators, has received an initial $2.5m investment from tech giant Cisco to help launch “the next generation” of innovative UK digital companies.
Based in London, Startupbootcamp also has sites in Amsterdam, Barcelona, Berlin, Copenhagen, Eindhoven, Israel, and Istanbul and boasts the claim that 80% of its alumni companies are still trading and have each gone on to secure an average of £400,000. It also says that it is the first accelerator of its kind to receive backing from multiple corporate firms, including Intel, Salesforce, Samsung, Google, Amazon, and now Cisco.
Cisco claims the investment will enable it to connect with “new innovators”, gain early insightinto market transitions and drive its technology.
Phil Smith, CEO of Cisco UK & Ireland, commented: “We see the move to digitise every business as a strong trend in the UK, and yet there are still huge opportunities to improve productivity by further use of digital technology.
“That is why we are so excited about the investment and growth we are making in the UK and the kinds of skills, jobs and technologies it represents with this investment today.”