Global retailer IKEA has opened applications to its first startup accelerator and is looking for companies that can help it solve “big problems”around being truly affordable, reaching and interacting with the many, and enabling a positive impact on the planet, people and society.
IKEA, in collaboration with Rainmaking, is inviting startups from across the world to apply for the bootcamp, which is focused on affordability, accessibility and sustainability and will see 10 selected startups spend three months in Sweden at the heart of the IKEA Range and Supply Democratic Design centre.
The startups will be given access to IKEA’s prototype shop, test labs and innovation development, as well as the expertise and knowledge within IKEA Range & Supply. They will also be awarded a EUR20,000 (US$23,500) grant and free co-working space and housing.
Each company will get a senior global IKEA business leader as a mentor as well as access to tailored mentorship and advice from both IKEA and Rainmaking’s global network of serial entrepreneurs and experts.
The programme is equity-free, with IKEA instead looking to collaborate or co-create with the selected companies.
“We may end up being a customer, licensing your technology or even investing in your company, but first and foremost we want you to be working on the big problems and to share our vision to create a better everyday life for the many people,” the company said.