UC Berkeley SkyDeck Accelerator Welcomes 16 New Portfolio Startups; New Berkeley SkyDeck Fund Invests $100,000 in Each Cohort Company
BERKELEY, Calif., Dec. 18, 2017 /PRNewswire/ — The UC Berkeley SkyDeck startup accelerator has announced the 16 teams accepted into the Spring 2018 cohort. Teams will receive support and mentorship valued at more than $200,000 per company, and an additional $100,000 in funding from the Berkeley SkyDeck Fund.
Located in the penthouse of Berkeley’s tallest building, SkyDeck has over 100 startup advisors. Startups benefit from a series of in-depth workshops through the Berkeley Acceleration Method, a process developed exclusively for SkyDeck. In addition to the 16 teams joining the Spring 2018 cohort, more than 60 additional startups have been selected as Hot Desk companies, who will benefit from SkyDeck’s coworking space, mentorship opportunities, and exclusive events.
In industries ranging from cryptocurrency and CRISPR gene editing, to AI and robotics, Spring 2018 cohort startups include companies with international founders from Russia, Germany, Japan, Ireland, Armenia, Mexico, France, Australia, Peru, Costa Rica, Pakistan, and Canada — all with deep connections to the UC Berkeley community.
“SkyDeck’s mission to support Berkeley startups and bring revenue to campus had just had a massive boost with the launch of the Berkeley SkyDeck Fund,” said SkyDeck Executive Director Caroline Winnett. “This new Cohort is our first funded group of startups, and we are beyond thrilled to help them go for their moonshot here with us at SkyDeck.”
The Berkeley SkyDeck Fund, a new $20MM fund led by veteran fund manager Chon Tang, has an exclusive partnership with UC Berkeley to invest in SkyDeck startups. One half of fund carry (profits) will be donated back to the University. Spring 2018 cohort teams will be the first cohort to receive fund investment of $100,000 per team in exchange for a five percent equity stake in their startups.
“Berkeley SkyDeck has carved out a reputation for being the ideal launchpad for high-tech, deep-science startups who also understand the importance of product market fit, and this cohort is the perfect example of why the venture capital industry is excited about investing in the UC Berkeley ecosystem,” said Tang.
As UC Berkeley’s official startup accelerator, SkyDeck is a joint program of the UC Berkeley Haas School of Business, the College of Engineering, and the Office of the Vice Chancellor for Research. SkyDeck combines the hands-on mentorship of traditional accelerators with the vast resources of its research university. This robust partnership is coupled with SkyDeck’s unique accelerator method to create a powerful environment for startups. Its SkyAdvisors, Partners, and large network of accredited investors connect their SkyTeams to the expertise and capital they need to launch and grow…to the moon.
Learn more about SkyDeck at http://skydeck.berkeley.edu/
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SOURCE Berkeley SkyDeck