Two Centers, One Global Vision
Global Startup Accelerator
Companies tend to see international expansion as an afterthought.
But 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
Indeed, 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.
The program will also connect founders to global business development experts and potential funders, specifically by letting them pitch European biotech types at the BIO International Convention, happening in Philly next summer
Who is this program for?
As our goal is to contribute to build a healthier and smarter society, the Global Startup Accelerator is divided into two distinct parts:
✔️ For the first cohort, the program is calling to all early-stage startups with a focus on life sciences, MedTech, or eHealth in the Greater Philadelphia, that want to explore European opportunities.
✔️ In 2020, the second cohort will be aimed at the Indian market and will be open to startups with a focus on IT and smart society.
As a whole, if you are interested in gaining insight into the overseas market without having to travel, this six-month program is for you.
Why should you apply?
GSA has a rolling submission process. Few spots are still open for Europe Track Cohort 1.
✔️ 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.
January 21, 2019 – Launch of Cohort 1 – Europe Track
Module 1: Market Framework: EU Channels, access market data and Funding Mechanisms in Life Sciences
Module 2: Legal & Regulatory Frameworks – EU IP, Taxes, Regulations in Life Sciences
Module 3: Cultural Framework: Localization & Soft skills Development
Module 4: Meet the European Market & Plan your roadmap
June 4-5, 2019: Pitch @ BIO International Convention
June 26th, 2019 – End of Cohort 1
Cohort 2 India Track call for application will open in September 2020.