The Menorca Millennials deceleration programme received its most international round of applications to date, with African startups accounting for 10 per cent of all valid submissions.
Disrupt Africa reported the search for the third cohort of the Menorca Millennials programme began in February, with the organisation highlighting its wish to expand its number of international participants.
Menorca Millennials claims to be the world’s first decelerator programme, and aims to deconstruct and assess participating startups’ models and strategies, with a view to unlocking their next stage of growth.
The application period has now closed, with entries arriving from 60 countries worldwide.
African startups accounted for 10 per cent of applications – the third largest regional group. Most applications came from Europe – at 63 per cent; followed by Asia at 15 per cent.
A panel of 30 judges will evaluate the applicants, with a view to selecting 20 startups to join the two-week programme on the Spanish island of Menorca in June.
The decelerator is led by serial entrepreneurs, with many names confirmed for the programme, including Martin Varsavsky, founder of Jazztel, Fon, Prelude Fertility and founding partner at Menorca Millennials; Paul Ford, vice president at SendGrid; John Keagy, founder at GoGrid; Angelika Blendstrup, founding partner and venture partner at SV LATAM Fund and partner at Startup Embassy; Verne Harnish, founder of Entrepreneurs’ Organization; David Goldberg, founder and chief executive officer (CEO) at Founders Pledge; Bea Arthur, founder and CEO at In Your Corner; and Tim Varner, co-founder at Roost; among others.
The programme features workshops, one-on-one sessions with experts and investors, and informal networking opportunities; and culminates in a three-day investor showcase, with global investors and VCs flying to the island to meet with the entrepreneurs.
“Menorca Millennials allows entrepreneurs to deeply discuss their projects with key figures of the global economic and entrepreneurial ecosystem. The participation of startups from different continents enriches the perspective, as it is a great opportunity for entrepreneurs, experience makers and investors to get to know different environments, which may be vital for the future of the startup,” says Marcos Martin, co-founder and chief executive officer (CEO) at Menorca Millennials.
The first two rounds of the decelerator programme resulted in 15 graduating startups raising a total of over EUR30 million (US$32.6 million) in investment.