Ignite, Started in Israel in 2019, Helps Advance Open Innovation and Accelerate Early-Stage Startups while Leveraging Intel’s Wide Range of Industry Connections
Intel announced the launch of two additional Intel Ignite sites in Austin, Texas, and Munich, Germany, following its success in Tel Aviv, Israel. Intel Ignite is Intel’s startup growth program launched in 2019. This is the first stage of expansion that will establish the program in multiple cities throughout Europe, North America and Asia.
Intel Ignite is a 12-week program for 10 early-stage startups that will receive hands-on mentorship from Intel and world-leading experts. Participating companies will gain access to technology and business leaders, as well as the knowledge, network and association that come with being accepted into one of the world’s most challenging and competitive startup programs.
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“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.”
The Intel Ignite team chose to establish programs in Austin and Munich because both cities are home to Intel sites with top-tier startup ecosystems featuring a high concentration of innovation, technology and talent. Intel Ignite has completed two successful cohorts in Israel representing startups from a range of industries, including artificial intelligence, cybersecurity and the internet of things, all areas where Intel can provide deep expertise and guidance — from engineering to manufacturing to marketing — as well as industry connections.
The program is currently accepting applications for the third cohort in Tel Aviv. The Ignite program in Munich and Austin will start in the first half of 2021. Munich’s applications will open in 2020’s fourth quarter to applicants from across Europe; Austin’s will open in 2021’s first quarter to applicants from across the U.S. All three programs will have a physical base at the center of their local startup ecosystem. The selection process and complete program will be delivered virtually while operating under pandemic guidelines.
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Criteria for interested companies include a minimum of $1 million in funding (seed, series A), an experienced founding team, significant IP and a large market opportunity. Startups must be in the technology sector. Intel Ignite will not take equity from startups as part of this program.
“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. “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.”
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