GSVA stands for German Silicon Valley Accelerator and is a program supported by the German Ministry of Economics and Technology that supports young German Startups in their endeavor to enter the US market and succeed in the Silicon Valley. The GSVA was founded in 2012 and has since then seen numerous success stories – a reason why the number of program spots has been doubled since last year. Currently the GSVA has started another application round to send ambitious entrepreneurs in the second half of 2014 to the US. Applications are accepted until 15/03/2014.
What is the idea behind the GSVA?
Anyone following the ICT sector and developments in the Silicon Valley knows the US market is miles ahead when it comes to a range of new technologies and their application. While German startups often have excellent ideas and develop great innovations, they still regularly fail to gain access to the world’s biggest growth market and thus stay well behind their potential when it comes to being a global player.
For young tech companies however it’s crucial to acquire a leading position as fast as possible. Particularly an early presence in the US market is a key part in this endeavor. That is why the German Ministry of Economics and Technology has decided to support selected German startups in their efforts to connect with the world’s leading high-tech region.
What can participants expect from the program?
Participants will receive a comprehensive mentoring and coaching program held by a team of local experts, serial entrepreneurs and investors. Working spaces for the startups will be provided in the heart of the Silicon Valley – Palo Alto (University Avenue) and directly in San Francisco (Runway, Twitter-HQ) – to allow the teams to network and swap knowledge and know-how with founders from all over the world.
The program includes events ranging from kick-off workshops to Networking & Pitch Events as well as support sessions. The latter deal with everything from setting up a US entity to opening bank accounts and support with marketing efforts through established communication channels plus media relationships.
Application is open to young startups that were founded in Germany. Traditionally the GSVA has had a focus on businesses from the ICT sector. From 2014 onward application is also open to Tech-Startups from all business fields relevant to the Silicon Valley. Equity exchange will not be required for participation, however participants are mostly themselves responsible for covering the costs of their stay.
For the application startups should ensure to communicate what precise plans they have for their stay in the US and they should be able to demonstrate an innovative solution, a solid business plan and a high growth potential – particularly pertaining to the US market. The current application phase that will send Startups to the US in the second half of 2014 ends on March 15th, 2014!
How to apply?
The GSVA Website offers a detailed description of the program including the entry requirements and selection criteria as well as the login for the online application. Visit www.germanaccelerator.com for more information. For a video showcasing the twelve participating teams of last year’s program click here: