Today, Virgin Media is launching a startup accelerator programme in the UK, powered by Techstars (which regularly works with corporations for this type of innovation project).
Run in conjunction with Virgin Media Business, the accelerator is - and I quote from the press release - "looking for world-leading startups with 'everyday simple ideas' - ideas that are based on connectivity and networks to make the everyday lives of millions better".
The ‘Virgin Media Accelerator’ is a three-month mentorship-driven programme that will support 10 digital startups with funding up to $120,000 (£78,000), office space in central London, an all-expenses-paid trip to the United States and various other means of support.
Worth noting: selected startups will get access to 'personal trainers and nutritionists' as part of the programme. How's that for a perk?
Also very much worth noting: if a startup is not completely satisfied with the value of the Virgin Media Accelerator programme, they can opt to _get back part or all of the 6% equity stake_ owned by Liberty Global Ventures and Techstars they initially exchanged to enter.
The accelerator is sponsored by Virgin Media parent Liberty Global. In Belgium, ISP Telenet (which is majority-owned by Liberty Global) also partners with a local startup accelerator - Idealabs - for a similar program called Kickstart.
For the occasion, Techstars - which, in the interest of full disclosure, was managed in the UK by tech.eu co-founder Jon Bradford until recently - is sharing some statistics about its global accelerator initiatives. To date, the company says it has accelerated 660 companies, 89% of which are still active or have been acquired and who have raised a total of $1.81 billion of funding.
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