Buildit Accelerator

Buildit Accelerator, based in Riga, Latvia, is a specialized early-stage investor focusing on hardware and Internet of Things (IoT) startups. Established in 2014, it has carved a niche as an "Accelerator of Things," providing a tailored program designed to guide innovative concepts through the complex journey of physical product development to market readiness. Their distinct emphasis on hardware distinguishes them within the European startup ecosystem, offering crucial support for the unique challenges associated with manufacturing and scaling tangible products.

The accelerator’s core offering is an intensive, structured program, typically spanning around three months. This program encompasses comprehensive mentorship, hands-on workshops, and access to specialized prototyping facilities. Buildit aims to equip startups with the necessary tools and knowledge for product iteration, supply chain management, and effective market entry strategies. They leverage an extensive network of industry experts, seasoned mentors, and potential investors, which is particularly vital for hardware startups that often require substantial capital and highly specialized technical expertise.

Buildit Accelerator provides initial seed funding to participating startups, with typical first cheques ranging from approximately $20,000 to $55,000 in exchange for equity. Beyond this initial investment, successful graduates gain the potential to secure follow-on funding, sometimes up to $250,000, from Buildit or its broader network of co-investors. Since its inception, Buildit has cultivated a diverse portfolio, having supported over 70 startups from more than 20 countries, underscoring its significant international reach and impact on fostering innovation within the global hardware and IoT sectors.