The Malmö-based accelerator starts working with five startups.
Fast Track accelerator is located in Malmö, which is the third largest city in Sweden. Photo: Shutterstock
Fast Track Malmo, a joint project by Minc, ALMI Invest, Malmö Startups and Invest in Skåne has presented its first five companies, reports Breakit. Fast Track is an accelerator for startups to help amazing teams launch their product, meet great mentors, get investment and enter the international market. It has started with a bang and has attracted a lot of attention.
“We are very proud to have received 254 applications from all over the world. It’s pretty cool!” said Joel Larsson, head of FastTrack.
The applications started arriving since fall this year and five companies have been selected in the accelerator program. The mentors in this program are very qualified, including TAT founder Hampus Jakobsson and Mapillary founder Jan Erik Solem. It is not easy to be selected in the program because the requirements are very strict.
“We only permit entrance to a company that wants to bring in venture capital and grow rapidly. That’s the goal, for the company at the end of the program, to bring in an investment. Therefore, we have set tough requirements for them to be investable, with a complete team, an idea that is tested in the market and a good ownership structure without too many passive shareholders,” said Larsson.
The program ends in late april with a pitch day where interested parties from all over Europe come and listen to the ideas of the Fast Track companies. The Five companies that have been selected and are going through the grueling process are Lead Wizards, Qlubo, Bit4M, Learnr and Spys.
- Lead Wizards – Helps sellers in B2B marketing to find new customers, with the help of an artificial intelligence.
- Qlubo – A company that wants to give small businesses the same opportunities for loyalty programs that large companies have. Through the company’s software, consumers can collect bonus points.
- Bit4M – A payment platform for faster and cheaper international payments using blockchain technology.
- Learnr – A chat-based learning tools for math, based on artificial intelligence. The robot Skylar helps with learning and suggests various tasks.
- Spys – Collects all data from various sources, analysis it and presents it in an understandable way.
This article is in collaboration with Øresund Startups, originally by Shaneel Nasir Akbar. Øresund Startups is a news site focusing on startups in Copenhagen and the other cities around the Øresund strait; Malmö, Helsingborg and Lund. It was initiated by Karsten Deppert and covers news about startups and events from the startup scene. You can follow them at @Oresundstartups.