International expansion program of Rubik Hub adjusts its focus towards the United Kingdom
Rewritten Article:
Hey there! Let's dive into the latest news about the Rubik Hub's international scaling accelerator, Rubik Scale. This year, they've decided to switch the focus from the US to the UK.
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Rubik Hub is inviting two seed-stage startups that are eyeing expansion in the UK to apply for their program. Applications are open until April 10 on their official website.
Why the UK, you ask? Well, according to Dealroom, London is Europe's financial powerhouse, and the UK ranks third globally in venture capital funding. Appearing on the UK market and getting some validation increases a startup's chances of success internationally. As Vlad Gliga, CEO of Rubik Hub, puts it, "London is the perfect testing ground and launchpad for startups aiming to conquer the US market."
So, what's Rubik Scale looking for? Startups that have already garnered some traction in at least one European market and offer scalable B2B solutions. To be eligible, startups should have annual revenues of at least $500,000 or have raised a minimum of €1 million. In return, selected startups need to contribute €2,000 upfront and another €2,000 after the program evaluation to support Demo Day events in London and throughout the program.
The program is designed to help participants develop and optimize their go-to-market strategies. It provides connections with international mentors, investors, and founders who have successfully scaled startups in Western markets, especially the UK and the US. The process includes workshops, 1:1 mentoring sessions, working groups, and feedback sessions with experts from both markets.
The program is backed by three venture capital funds: Fortech Investments (Europe), Crew Capital (US), and 20 VC (UK). Additional partners include UIPath, AmCham Romania, and legal advisory firms Lexters and Legally Remote.
Fortech Investments is offering an investment of €150,000 to the startup with the most potential, aligned with their investment thesis. The amount might increase depending on the team's progress and involvement, Rubik Hub said.
(Image Credit: Rubik Hub)
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- The Rubik Hub's international scaling accelerator, Rubik Scale, is now focusing on helping seed-stage startups that are targeting the UK market expand, given London's status as Europe's financial powerhouse and the UK's third position globally in venture capital funding.
- For startups aiming to join Rubik Scale, eligibility includes having already gained traction in at least one European market and offering scalable B2B solutions, with annual revenues of at least $500,000 or having raised a minimum of €1 million.
- The program offers opportunities to connect with international mentors, investors, and founders who have successfully scaled startups in Western markets, including the UK and US, offering workshops, 1:1 mentoring sessions, working groups, and feedback sessions with experts from both markets.
- The program is backed by multiple venture capital funds, including Fortech Investments (Europe), Crew Capital (US), and 20 VC (UK), with Fortech Investments offering an investment of €150,000 to the startup with the most potential, with the amount potentially increasing based on team progress and involvement.
