AWS recently announced the launch of its virtual acceleration program, equity-free. AWS Startup Loft, as it is called, is aimed at startups that are in the initial phase in EMEA and will last 10 weeks.
Participants will receive tailored training with access to experienced advisors, subject matter experts, investors, and some of the most successful global entrepreneurs who have built their business on AWS. In addition, these startups will also be able to join a large community of entrepreneurs to share knowledge, experiences and advice.
In addition, they will also have options to join the AWS Activate program, which includes up to $ 25,000 in Activate Credits to spend on AWS services, a free one-year subscription to AWS Business Support worth up to $ 5,000, access to pre-built infrastructure templates, and exclusive member-only offers.
Applications have been opened in November 2021 for all startups from the European Union, United Kingdom and Israel who wish to develop and scale their products with AWS. The first group, out of a total of 25 startups, will start in early 2022 and the program will expand to more EMEA countries in the coming months. Interested startups can request their participation in the first group here.
AWS’s group of technical and business experts will work closely with startups throughout the process. This includes AWS solution architects, who will help startups drive the design and development of a minimally viable product. The investors, including Entrée Capital, and the founders, Bernadette Nixon, CEO of Algolia, Cristina Fonseca, co-founder of the Portuguese unicorn Talkdesk and IA startup Cleverly, and Dr. Shay David, co-founder and CEO of the British startup Retrain.ai and co-founder of Kaltura, will work with the startups.
These experts will help refine business plans and provide guidance on topics such as finance, marketing, and human resources. AWS Startup Acceleration Partners will also offer specific content as part of the AWS Startup Loft Accelerator.
Flexible weekly commitment
“We will focus on investing in great teams that are building businesses in large and interesting markets. We are delighted to support this new AWS accelerator to offer talented and ambitious entrepreneurs the opportunity they need. ” stated Eran Bielski, General Partner at Entrée Capital.
AWS Startup Loft Accelerator does not obtain any equity in participating startups, has a flexible weekly commitment, supports startups from both a technical and business perspective and, as it is a virtual program, the founders don’t have to worry about the cost of the move.
AWS has helped the development of some of the most admired startups globally, from British food delivery company JustEat, which went from a Danish basement to a public offering (IPO) on the London Stock Exchange worth 1.5 billion euros. pounds, to Germany-based digital bank N26, and Spanish mobility company Cabify.
“Our new AWS Startup Loft Accelerator program offers entrepreneurs exactly what they tell us is most important when starting a business: access to the tools, expertise, and resources they need to bring their ideas to life.”said Kellen O’Connor, director of startups for AWS in EMEA.
Two startups that have already benefited from AWS investment in similar acceleration programs are Justt and PayEm. Both experienced rapid growth as a result of their participation in the AWS Builder Space Accelerator in Israel.
“The infrastructure, support and training we have received from AWS have been fundamental to the success of our startup”explained Roenen Ben Ami, co-founder of Justt. “It gave us the confidence we needed to launch our business quickly”.