French Accelerator, a new accelerator in LA’ Silicon Beach [fr]
French Accelerator, a new accelerator based in Los Angeles’ Silicon Beach, announces the official launch of its program welcoming its first cohort of French startups wishing to establish themselves in the United States. To qualify, these startups have to develop a model or a market approach which is exportable to the United States and which already has a consolidated presence in France.
“The entrepreneurial ‘French Touch’ is recognized and regularly highlighted on the international scene, as it was at the last CES where France was the most represented country! Nevertheless, among such a mushrooming of startups, very few of them actually manage to successfully take root in the United States, in order to access the unique development opportunities the country provides. The goal of French Accelerator is specifically to enable French Tech gems to scale and develop in the United States. To make that happen, we have conceived a unique method of acceleration. It is based on a partnership model, an ultra-personalized approach and an establishment within one of the most entrepreneurial communities in the world” says Laurent Ruben, the founder of French Accelerator.
French Accelerator was imagined and created in Los Angeles, in 2015, by a team of 6, composed of French entrepreneurs and American Francophiles. This new accelerator is exclusively dedicated to French Tech startups with a strong potential, who wish to establish themselves in the American market. After a year of laying the groundwork and testing, today it launches its program, with the first cohort of 12 startups.
Based in the heart of Silicon Beach, French Accelerator offers an ideal setting for French startuppers in a post Series-A development phase. Its attractive location is more affordable than the Silicon Valley. In addition, the excellence of its universities and the high density of startups and innovative groups make Silicon Beach the third entrepreneurial eco-system of the Tech world.
A CUSTOMIZED PROGRAM THAT DIVIDES BY THREE THE TIME REQUIRED TO SET UP A BUSINESS
Today, 8 French entrepreneurs out of 10 fail at developing their project in the United States, during the first 18 months. In order to successfully establish oneself in the heart of one of the most attractive and competitive markets in the world, the teams of French Accelerator have created a new intensive and tailor-made program that focuses on execution. The program lasts between 6 to 12 months. It covers all the different steps for establishing oneself in the United States; from the first customer references to fundraising support, to the registration of the American branch. 28 Francophile American and European advisors with more than 15 years of experience in the United States invest themselves in order to help the 12 startups selected every year. The objective is to achieve in 12 months what a company, alone, usually does in 30 months.
A NEW KIND OF ACCELERATOR
French Accelerator offers a unique new partnership approach to the startups, which are supported by its teams. Rather than acquiring a stake in the company directly at the beginning, French Accelerator proposes to startups to convert the value of the support delivered at the end of the acceleration phase into capital.
This new model in the world of accelerators guarantees a complete alignment of interests between French Accelerator and the entrepreneurs it supports. Only when the action of the accelerator has been truly successful can it acquire a stake in the startup. The entrepreneur gets less diluted by opening up his capital to a higher level of valorization.