As a startup, you’re in the business of thinking BIG.
With 95% of the world’s consumers living outside of the U.S., your customer base looms large. But odds are you are not reaching most of it.
Stop playing small! For those startups focused on life sciences, MedTech or eHealth, the Global Startup Accelerator is here to help you go global!
Why Go Global? You’re an innovator…going global is part of the business plan!
And the benefits are many:
✔️ Taking advantage of overseas opportunities adds volume and growth to your company
✔️ Differentiates your product or service by being a global player
✔️ Decreases costs through more efficient ways of doing business, while increasing profit margins
✔️ Improves business bargaining power
So, what exactly is the Global Startup Accelerator?
Welcoming Center for New Pennsylvanians and the University City Science Center have been awarded $500,000 in funding from the U.S. Department of Commerce. This program is one of 27 chosen nationwide for funding by the EDA
In the 3-year grant, the U.S. Economic Development Administration’s Regional Innovation Strategies i6 program is funding the launch of the Global Startup Accelerator (GSA) to:
✔️ Foster the global innovation ecosystem in Philadelphia and
✔️ Open new doors to global markets for businesses across the Greater Philadelphia region.
✔️Generates a much wider range of knowledge sources, and other resources and capabilities
Who is this program for?
All early-stage startups with a focus on the life sciences, information tech, or eHealth technologies in Pennsylvania, Delaware and Southern New Jersey. If you are interested in gaining insight and immersion into the European market without having to travel overseas, this six-month program is for you.
The program will focus on entry into two regions: European marketplace in 2019, followed by the Indian marketplace in 2020.
Why should you apply?
✔️ Gain insights into business and business growth opportunities in the European market
✔️ Gain access to potential funding sources
✔️Make direct connections to mentors, partners and potential clients
✔️Meet and pitch European partners at the BIO International Convention in Philadelphia on June 3-6, 2019. BIO represents more than 1,100 biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations.
Leveraging the vast knowledge of Philadelphia’s immigrant community
Philadelphia proudly boasts one of the largest and fastest growing immigrant populations amongst major U.S. cities. According to the latest Pew State of the City report, 15% of Philadelphia residents are foreign-born; and a study by the New American Economy found that immigrants in the Philadelphia region are 43% more likely to be entrepreneurs than native-born residents.
The Global Startup Accelerator will tap into Greater Philadelphia’s business community and ensure that Philadelphia’s immigrant entrepreneurs are at the table and invited to contribute their vast knowledge on how to navigate international, global markets.
November 11, 2018 – End of applications
December 3, 2018 – Second step to pitch deck
December 9, 2018 – Deadline pitch deck
December 21, 2018 – Announcement of interview schedule
January 7, 2019 – Beginning of the interviews
January 11, 2019 – Selection of the first cohort
January 21, 2019 – Launch of the program