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IE Business School in Madrid has launched its latest program for budding entrepreneurs to get market-ready. This time it is targeting the space for education technology, or edtech, by helping these companies connect with stakeholders and potential customers in higher education.
The IE Rockets program is described as a mixture of accelerator, educator, and angel investor. The program helps entrepreneurs design and build their business for entering the higher education sector, finding customers, and raising investment.
It is split into two different tracks: IE Rockets Acceleration and IE Rockets Pilots.
Firstly, IE Rockets Acceleration is a three-month program held in Madrid at IE’s Area 31 entrepreneur centre, which kicks off in September and will prepare your team for refining a product for the higher education and edtech market. Startups in the program will get support from IE’s Learning Innovation team, which will provide intimate knowledge of the education sector to help companies refine their product.
The program does not take any equity, but will provide some funding in the form of a convertible note. In order to join, your company must have a working product and be generating some revenue.
Secondly, IE Rockets Pilots helps startups carry out pilot programs with real users. This is for more mature startups that have an advanced product for testing and a clear business model in place. The pilot will allow these companies to test this product and business model at a university, reaching the right target audience and identifying what needs to be changed and adjusted.
The pilot will take place at a leading institution, which will provide vital feedback. If successful, the pilot will open up a network of more than 100 universities for possible partnerships and customers, as well as access to education and tech investors.
Applications for the programs are open until May 31.