Intel is set to launch its early-stage startup growth program Ignite in Austin, Texas, as well as Munich, Germany, following a successful start in Israel. Intel Ignite launched in Tel Aviv in 2019 and has completed two cohorts so far, the second of which was conducted online due to the COVID-19 pandemic.
Ignite is a 12-week program that works with ten early-stage, data-centric startups and provides them with mentorship from Intel and industry experts in a variety of product, business, and management and technical areas. Intel has said it seeks no equity in or rights to IP from these companies.
Ignite is currently accepting applications for the third cohort in Israel, Intel said.
The Intel Ignite team chose to establish programs in Austin and Munich “because both cities are home to Intel sites with startup ecosystems featuring a high concentration of innovation, technology, and talent,” Intel said in its announcement.
The Ignite program in Munich and Austin will start early next year. Applications for the Munich program will open later this year to candidates from across Europe; applications for Austin will open in 2021’s first quarter to candidates from across the US, according to the announcement.
“Ignite was created to help startups realize their potential and to connect them with leading Intel experts. We are expanding the program to multiple countries so that we can work with a diverse array of startups tackling some of the world’s biggest challenges,” said Intel Ignite general manager Tzahi (Zack) Weisfeld, who is based in Tel Aviv.
“The startups we look for are fearless, pave new paths, and are not afraid of taking bold steps. Intel employees engaging with the startups in Ignite are challenged to work more nimbly and creatively, and they gain perspective on how other companies and entrepreneurs operate, producing fast results and significant business outcomes,” he added.
Weisfeld told NoCamels last year that Ignite was not just another accelerator. “It’s a high-intensity program that’s very thorough with a dedicated team and strong mentorship backing,” he explained.
“Intel’s purpose is to create world-changing technologies that enrich the lives of every person on Earth,” said Intel CEO Bob Swan. “We launched Ignite in 2019 both to support early-stage companies on their journey to success and to provide Intel employees with an opportunity to advance our purpose. In its first year, the Ignite program’s achievements have far surpassed our expectations and because of its proven, strategic impact, we are expanding its reach.”
Intel said it expects to further launch Ignite in multiple cities throughout Europe, North America, and Asia.
This article first appeared in NoCamels, which covers innovations from Israel for a global audience.