Intel Ignite Expands Startup Acceleration Program to Boston

Rhea-AI Summary

Intel expands its Ignite acceleration program for startups into the United States, focusing on deep tech in Boston while continuing operations in Tel Aviv and Munich. Nearly 100 startups have graduated from the program, which sees over 600 applications per cohort, but only 30 are selected. Intel's mentorship provides invaluable resources, leading to over $1 billion in funding for participating startups. The Boston area, ranked No. 4 for startup environments, is strategically chosen for its proximity to leading technical universities.

Positive

• Expansion of Ignite acceleration program into Boston, enhancing accessibility for U.S. deep tech startups.
• Over $1 billion in funding raised collectively by startups participating in the Ignite program.
• Strong mentorship framework connecting startups with industry leaders and technical experts.

Negative

• None.

Intel’s work with deep tech startups is fostered by an open ecosystem to open doors, elevate future leaders and accelerate innovation.

SANTA CLARA, Calif.--(BUSINESS WIRE)-- What’s New: Intel has expanded its Ignite acceleration program for early-stage deep tech startups to now include the United States in Boston, alongside existing programs in Tel Aviv, Israel, and Munich, Germany. Developed as an acceleration program for early-stage deep tech startups, Intel Ignite has graduated nearly 100 young companies from the program.

“We have more than 600 startups apply for each cohort globally, about 50 are chosen as finalists – and of those, only 30 make it into the program. We put Intel’s experience and access to work for these deep tech startups to find their product-market fit, provide validation and credibility to their solution, offer access to markets and customers, and, eventually, enhance their valuation to support their fundraising goals.”
–Tzahi Weisfeld, Intel vice president and general manager of Intel Ignite

Why It Matters: Intel is committed to being the platform of choice for future technologies. The Ignite program supports disruptors on their technology journey. Together, Intel and Ignite program participants contribute to the future of technology.

Mentorship is at the heart of the Intel Ignite program. Intel pairs startup founders with serial entrepreneurs, business leaders and technical experts with deep subject matter expertise and a commitment to developing world-changing technology. Carefully selected based on their expertise, mentors dedicate significant time and energy to the program and often develop long-term relationships with the teams they advise.

The intention is to deliver value to future leaders by leveraging the full breadth and depth of Intel’s reach, scale and resources to support a path to their success. In addition to mentorship and resources, Intel’s global network has led to more than $1 billion in funding across the portfolio of participating Ignite startups.

"Boston is a natural launch location for Intel Ignite because it is highly ranked as one of the top U.S. cities for startup quality,” said Mark Castleman, managing director for Intel Ignite in Boston. “Startups in the Boston area also tend to be highly focused on deep tech, which makes sense due to the close proximity of many of the most advanced technical universities in the U.S. And although we are centering certain activities in Boston, the program is adaptable and we are accepting deep tech companies from across the U.S., so all top disruptors should apply.”

Why Boston: Boston is ranked as the No. 4 leading startup environment in the U.S. (one example: StartupBlink 2022 survey). Home to some of the most advanced deep tech universities in the U.S., Boston is an ideal location for expanding the Intel Ignite program in the U.S. The Boston program will serve the whole U.S. startup ecosystem.

How Intel Ignite Works: First launched in 2019, the Intel Ignite program supports founders who have set out to shape the future of technology. Participants take part in a 12-week program and connect with global business and technology leaders to receive customized support, accelerate research and development, and develop a path to increase reach and influence.

The program is focused on critical aspects of early-stage startup growth and led by industry-leading experts from both inside and outside Intel to play the role of experienced program mentors and empower teams to explore big ideas in a collaborative environment.

More Context: Intel Ignite website | Intel Ignite’s Startup Accelerator Program: Co-Creating the Future With Startups (Video)

About Intel

Intel (Nasdaq: INTC) is an industry leader, creating world-changing technology that enables global progress and enriches lives. Inspired by Moore’s Law, we continuously work to advance the design and manufacturing of semiconductors to help address our customers’ greatest challenges. By embedding intelligence in the cloud, network, edge and every kind of computing device, we unleash the potential of data to transform business and society for the better. To learn more about Intel’s innovations, go to newsroom.intel.com and intel.com.

© Intel Corporation. Intel, the Intel logo and other Intel marks are trademarks of Intel Corporation or its subsidiaries. Other names and brands may be claimed as the property of others.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221018005495/en/

Rich Adolph

1-206-251-5320

richa@we-worldwide.com

Source: Intel Corporation

FAQ

What is Intel's Ignite acceleration program?

Intel's Ignite program supports early-stage deep tech startups through mentorship, resources, and access to markets, helping them find product-market fit and enhance their valuations.

Where has Intel expanded its Ignite program?

Intel has expanded its Ignite acceleration program to include Boston, Massachusetts, alongside existing locations in Tel Aviv, Israel, and Munich, Germany.

How many startups have graduated from the Intel Ignite program?

Nearly 100 startups have graduated from Intel's Ignite acceleration program since its inception.

What is the application process like for Intel's Ignite program?

The Ignite program receives over 600 applications per cohort, selecting about 50 finalists, of which only 30 are accepted into the program.

Why is Boston chosen for Intel's Ignite program?

Boston is ranked as the No. 4 startup environment in the U.S. and is home to leading technical universities, making it ideal for deep tech startups.