Swedish publishing giant Bonnier has been putting a greater and greater effort into investing, supporting, and acquiring ICT companies in recent years, and is today announcing the second run-through of Bonnier Accelerator, and has applications open until May 2nd.
No equity is required to participate in the program, and you can see from the details that really Bonnier is looking for dealflow for their investment arm. The program runs three months, and the entrepreneurs will move into the Bonnier offices starting September. In December, participants will pitch their businesses again to the jury, and Bonnier will decide whether to invest or not, with the particulars negotiated between the participants and Bonnier.
“Anyone can apply, but it helps if you’ve already started with your product or service,” says Elisabeth Palombo, who is responsible for the program, in a statement. “When we invest in a startup it’s a long-term commitment, so the three months are also a way for us to get to know better the team behind a business idea.”
Adrian Swartz, CEO for Cruitway and a 2013 alum of the program, says: “We had already founded the company under the name Studentlänken when we applied. During the program we rebranded the whole company to Cruitway as it is today. We accelerated the sales at a crazy speed, redefined the business model, prepared for investment pitch and mapped out a quite solid three year plan.” Today Cruitway has over 400 customers, including Ikea, H&M, ABB and the Government Offices of Sweden.
Head over to their website to apply.