The latest NCA support programme for start-ups with trade-related business models in e-commerce, advertising and technology and services begins on October 1, 2019 in Hamburg with even more financial backing and an expanded circle of investors. Around 40 per cent of 20 start-ups from five countries backed by the Next Commerce Accelerator (NCA) have already secured follow-up financing from international investors including some from Silicon Valley who have injected millions.
Expanding position in Europe
“Over the past two years, the NCA has become a permanent fixture in the European start-up scene,” said Thorsten Wittmütz, Managing Partner of NCA. “Our aim is to be the first point of contact in Europe for the best founders with trade-related business models.” A team headed by Wittmütz and Christoph Schepan aims to further expand its position as an independent accelerator for commercial start-ups by 2024 with the new funds and to support up to 100 start-up teams. The participating investors include more than ten listed stock corporations, mid-sized companies and service providers as well as Beiersdorf and Tchibo. The initiators and Hamburger Sparkasse expect around 30 investors to become part of the new fund by mid 2020.
Young founders meet established entrepreneurs
Start-ups can apply for the programme twice a year. Apart from intense support, founders also receive capital in return for a share of their company. The co-operation with investors allows young entrepreneurs to test their products and services on the market at an early stage. The founders attract their first customers and benefit from feedback while investors gain insight into new business models, technologies and innovations.
Six-month coaching program
Founded in 2017 in Hamburg and initiated by Hamburger Sparkasse, NCA aims to support and accelerate commercial start-ups all over Europe. The six-month coaching programme offers access to a network of experts and mentors, as well as an opportunity to work together with investors. Participating teams benefit from direct contact with leading trade and industrial companies.