News item | 07-01-2022 | 09:45
The Netherlands is starting its own program for startups that want to grow strongly in the United States. In this so-called ScaleNL Accelerator, up to 60 companies will follow an intensive 12-week coaching program over the next three years to prepare them for success in the American market. The Ministry of Economic Affairs and Climate Policy is making EUR 500,000 available for this. Invest-NL will also contribute financially to the program. Startups can register from January 11.
Dutch startups that want to expand internationally often run into financing problems, partly because Dutch investors often want to take less risk than international investors. The program ScaleNL prepares entrepreneurs for funding rounds and stormy growth (‘scaling’) in the US. This improves their competitive position compared to other European companies. Countries such as Germany, Denmark and Israel also have such programs.
Focco Vijselaar, Director-General for Business and Innovation at the Ministry of Economic Affairs and Climate: “Dutch entrepreneurs stand out internationally with their smart products, technology and services that contribute to solving the major issues of our time. Via ScaleNL Selected startups are even better placed to compete with the global top active in Silicon Valley and other tech hubs. We give these startups a boost to find knowledge, money and partners in the US, the market with the greatest growth opportunities for Dutch companies.”
Thanks to the investment from the Ministry of Economic Affairs and Climate, the first group of 10 companies can start the program in April, aimed at doing business in Silicon Valley. The amount may be supplemented with private money to support a total of 60 companies over the next three years.
Growing with ScaleNL
ScaleNL is an initiative of successful Dutch entrepreneurs and the Dutch consulates-general in the US. Companies are selected by successful American and Dutch businesspeople based on their innovative strength, team and potential success in the American market. That market consists of well-known tech hubs such as Silicon Valley on the west coast and New York and Boston on the east coast, but also growth cities such as Miami, Atlanta and Chicago.
Dirk Janssen, Consul General in San Francisco: “In the US, Dutch startups are often seen as innovative and innovative. With ScaleNL we really try to force that American breakthrough: we connect entrepreneurs with leading experts and investors in American tech hubs. The experience learns that as a result, the Dutch head office or research lab automatically grows, so that our economy reaps the benefits.”
Wouter Bos, CEO of Invest-NL, adds: “Fast-growing startups that can scale with innovative technology play an important role in accelerating transitions. With our support for the ScaleNL Accelerator we help Dutch companies to scale up their activities at home and abroad and thus increase their chance of success.”
The first 10 companies will begin the 12-week program in April 2022, which will include a crash course in “Doing Business in Silicon Valley.” Among other things, the program pays attention to the business model and obtaining financing. The first part takes place digitally; the program concludes with an intensive component in San Francisco, giving participants the more than 200 ScaleNLmeet mentors and experts in person.
Startups can register from January 7, 2022 via www.scalenl.com. Registration closes on February 18, 2022.