HAX Accelerator
| 120px | |
| Subsidiary | |
| Industry | Venture capital |
| Founded | 2011 |
| Founder | Cyril Ebersweiler Sean O'Sullivan |
| Headquarters | Shenzhen, Guangdong, China |
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Number of locations
|
Shenzhen and San Francisco |
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Area served
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Worldwide |
| Services | Investments |
| Parent | SOSV |
| Website | www.hax.co |
HAX Accelerator (formerly HAXLR8R) is a seed accelerator focused on hardware startups based in Shenzhen, Guangdong, China. Through an open application process, accelerator program providers take "batches" of startups consisting of small teams.The startup is supported with funding, mentoring, training and events for a definite period (usually three months), in exchange for equity. HAX was the first accelerator to focus on hardware startups, leveraging its unique access to Shenzhen's ecosystem. As of March 2016, about 90% of its startup investments are from overseas (50% USA) and about 10% from China.
Hardware Accelerator
HAX Accelerator is currently an accelerator program exclusively focused on hardware development. The development part of the program takes place in Shenzhen, China, close to the supply chain and factory ecosystem available there.[1] Over fifteen weeks, developers focus on building a prototype, they manufacture and distribute it. Mentors assist the startups in practical areas of business like executive coaching, graphic design, mechanical and packaging design, factory sourcing, distribution. Twice a week, companies share their progress and receive feedback from mentors and peers. At the end of the program the startup presents the final product to investors and raise further capital. HAX Accelerator companies receive up to $200k in matching funds from the SOSV Hardware scaling fund.[2][3]
Funding and Support
HAX Accelerator provides developers early-stage seed funding ($25,000 for 6% or $100,000 for 9%), office space in addition to mentoring, education and networking. The HAX Accelerator program covers: invention, prototyping, sourcing, manufacturing, packaging, supply chain, strategy, marketing, distribution, fundraising, financing. As of March 2016, over 100 startups have participated in the HAX Accelerator program including CHIP, Kokoon, Prynt, Voltera, Nomiku,[4] Kindara,[5] HEX Air bot,[6][7] and Petcube [8] Startups from all over the world are considered for participation in the HAX Accelerator program.
History
Founded in 2011 by Cyril Ebersweiler and Sean O'Sullivan, the roots of the HAX Accelerator program took hold when another accelerator program, CHINA-AXLR8R was born in Shenzhen, China in 2009.[9] The summer program produced two promising startups that were working on "distruptive" hardware. Cyril Ebersweiler recognized that the opportunity to "accelerate" hardware startups had arrived. The first HAX Accelerator program ran from March to June 2012.
References
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- ↑ https://www.techinasia.com/petcube-exceeds-funding-goal-now-incubated-at-haxlr8r
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