Teleport @ 500 Startups!
It’s a great pleasure and honour to announce that Teleport has been selected to participate in 500 Startups’ latest Mountain View batch, which started on October 17th. Read their official announcement here.
So what is this 500 thing?
500 Startups is the world’s most active seed investment fund, with over $250m in management. Founded by entrepreneur Dave McClure in 2010, 500 Startups has invested in over 1500 companies across 20 countries.
500 Startups operates as an accelerator: several times a year, selected companies come to their Bay Area offices to follow a four-month boot camp, which includes mentoring, access to the 500 Startups network and partners, and networking between the participating companies.
The program ends by demo day: a session where all of the companies pitch to some of the best Silicon Valley VCs.
Is that a big deal?
Over 1500 companies applied for the accelerator, our of which 44 were selected, so yes, it’s a big deal. But the “500” stamp of approval is only the beginning: being able to participate in the accelerator for four months mean that we are going to be challenged by some of the best brains in the Silicon Valley about our assumptions, our business model, our technology and our growth plans.
What does it mean for Teleport?
New office!! We’re not here just to participate in an educational program, we’re taking this opportunity to set up a permanent US office. Our intention is to keep the dev team in Switzerland while the sales and marketing efforts led from the US office. Switzerland was a fantastic market to test our product and assumptions, but it’s hard to beat the US in terms of scale, and we’re going to exploit that as much as possible.
We’re thrilled to be at the beginning of this new adventure and will try to make periodic updates about our Californian adventures. Thank you 500 Startups for your trust!