Intel Ignite, Intel Corporation’s acceleration program for early-stage deep tech startups, today announced 10 startups selected for the first cohort in Boston. The 12-week program is scheduled to begin Nov. 9.
After reviewing more than 500 prospects, 60 high-potential startups went through a due diligence process. Then, 18 startups were shortlisted, with 10 ultimately selected. More than 100 Intel executives and technical leaders, top venture capitalists, entrepreneurs and ecosystem influencers heard detailed presentations from the short list of founders, evaluated the companies across a range of characteristics and helped Intel Ignite determine the final selected companies.
“This new Boston cohort represents an important milestone for the Intel Ignite program,” said Tzahi (Zack) Weisfeld, Intel Ignite VP and general manager. “Since 2019, 90 startups have graduated our programs in Tel Aviv and Munich. The value created for participating startups, the new business opportunities and product tech breakthroughs awarded us with a whopping 93 Net Promoter Score by the graduating startups.”
Intel recently announced expansion of Intel Ignite into Boston. Along with existing programs in Tel Aviv and Munich, the inaugural program in the U.S. will assign each startup to Intel Lead Mentors and industry mentors for weekly meetings. The program will include sales and marketing workshops, help with achieving product-market fit faster, culture and team building, networking and coaching sessions with industry experts, including sessions on how to work through challenging economic situations. Mentors will advise the startups about crisis management and share their takeaways for successfully managing and building companies regardless of the challenges.
The new cohort consists of a range of seed startups, each with an average funding of more than $8.5 million in seed or pre-seed capital. They span diverse technology innovations, from cloud computing to restaurant management to machine learning and artificial intelligence. The companies in the inaugural Boston cohort are:
“We are very excited to welcome this impressive group of companies to the first Intel Ignite cohort in the U.S.,” said Mark Castleman, managing director for Intel Ignite Boston. “Each of the startups selected for the Boston cohort is unique and disruptive. From quantum to AI to nano, these startups are building and innovating for the future, and they are pushing the envelope of what it means to create impact in deep tech. The founders are exceptional leaders, and we are happy to support them on their journey.”
First launched in 2019, the Intel Ignite program supports founders who have set out to shape the future of technology. Participants take part in a 12-week program and connect with global business and technology leaders to receive customized support, accelerate research and development and develop a path to increase reach and influence.
The program is focused on critical aspects of early-stage startup growth and led by industry-leading experts from inside and outside Intel to play the role of experienced program mentors and empower teams to explore big ideas in a collaborative environment.
There are currently 30 startups in three locations – Boston, Tel Aviv, and Munich – participating in the Intel Ignite program.
Technology has the power to solve the world’s greatest challenges. Fostering an open ecosystem is the foundation of Intel’s approach and enables many different players, including Intel, to disrupt and create new markets.
To learn more about the Boston program and Intel Ignite, visit the Intel Ignite website.