Portugal-based venture capital firm Indico Capital Partners and US-headquartered internet and technology group Alphabet’s Google for Startups unit have picked six companies for their Lisbon accelerator.
Indico is launching a €12m ($13.7m) pre-seed fund to further invest in participants in the scheme. They will receive an initial €100,000 investment and start a six-month program followed by an incubation period lasting until June 2021.
Stephan Morais, Indico’s CEO and founder, said: “The number of exceptional startups that have applied to our accelerator reveals the lack of capital available to the development of startups in their initial (and often, most critical) phases of development.”
More than 130 applications came in and the six companies chosen were:
- APiS, a developer of software for the management and remote monitoring of beehives;
- InnovationCast, which provides software that helps organisations strengthen growth and productivity;
- Modatta, the operator of an online marketplace allowing users to monetise their own data;
- Onalytics, the creator of a software platform that manages the quality and supply of beer kegs;
- Playbox, the operator of a subscription service that helps couples make their relationships more fun; and
- Skoach, a provider of software that helps in the coordination of remote and in-office teams.
