Plug & Play accelerator program - selection ICT start-ups 2010



November 15, 2010

Regardless how much groundbreaking research is carried out in Europe, market leaders such as Microsoft, Facebook, Google and Twitter continue to emerge from the United States. The dynamics of an ‘ecosystem’ such as Silicon Valley, in which top universities, venture capital, large companies and entrepreneurs have networked and created an efficient loop of value-adding innovations, is therefore invaluable.

Any Belgian ICT start-up looking to break into the world market would do best to adopt an international strategy from the word go. But without local roots and support it is no easy task to establish a foothold in the highly competitive and quickly developing world-market. We will try to reach as many interested parties as possible through a network of partner organizations active in the sector, such as plugMedia and the BetaGroup.

IBBT has therefore decided to form a partnership with the Californian incubator Plug & Play Tech Center, supported by Flanders Investment & Trade. At Plug & Play promising technological start-ups can not only find a home in the heart of Silicon Valley, but also find the introductions, local market knowledge and support they need to get started up quickly. This means that the selected start-ups will be able to make use of the following financial and practical support for a period of 3 months:

Residence in Plug & Play Tech Center:
IBBT covers the full cost of the Plug & Play Tech Center facilities and services, including:

  • Monthly community networking events   
  • CEO talks, Circle of CEO meetings, EIR luncheons   
  • Weekly office hours with Plug & Play corporate and service partners  
  • Front Desk and Reception service
  • 16 hours of conference room use per month per company

Travel & lodging:

  • First 2 to 3 weeks: the selected start-up companies can apply for a subsidy with Flanders Investment & Trade  within the framework of an “individual prospection journey”. The subsidy is limited to costs related to travel and lodging and for a limited period in time. The travel costs include costs for travelling to the country involved, as well as local travel. The lodging costs include hotel costs, meals and communication costs. The fixed compensation consists of 2 components, i.e. lodging (60%) and per diem (40%). For more information on the subsidy: http://www.flanderstrade.be/site/wwwnl.nsf/vPag/TypesSubsidies__SubsidieType1?opendocument (Dutch website) 
  • Remainder of the 3 months: the companies will have to cover travel and lodging costs themselves 

After these first 3 months the selected start-ups can decide to prolong their stay in Plug & Play Tech Center. At that time they can apply to Flanders Investment & Trade for a subsidy based on your “residence in an accredited service center”, for an additional period of 18 months. The subsidy consists of a 50% contribution on the cost of the use of the service center. The eligible costs amount to a maximum of 4000 Euro a month for a period of at least 3 and at most 18 months. For more information on the subsidy: http://www.flanderstrade.be/site/wwwnl.nsf/vPag/TypesSubsidies__SubsidieType11?opendocument (Dutch website) 

Click here for more information on subsidies for activities promoting export/investment.

Register