Sports brand ASICS opens the call for its Tenkan-Ten startup accelerator program in Barcelona that offers €30,000 in financing.
The Tenkan-Ten startup accelerator program is part of the strategy developed by the New Business and Innovation Division of ASICS, whose objective is to promote growth and innovation throughout the Europe, Middle East, and Africa (EMEA) region with a focus on new services, products, technologies, methodologies, models of business and experiences for the consumer.
In order for startups to be accepted in the Tenkan-Ten program, they must have passed the MVP (Minimum Viable Product) phase, have market validation and a certain traction and journey, but, above all, they are required to be in line with the philosophy of ASICS whose motto is “Sound Mind, Sound Body.”
Ten startups will be selected for the total of those presented and the selected ones will start the program in September, which will last four months.
Applications for the accelerator in Barcelona are open through June 30, and the program offers €30,000 in cash to benefit startups.
Like any good accelerator, it offers networking and mentorship, along with working spaces and access to capital.
The ASISCS Innovation Hub EMEA offers 2500 sqm of Sports & Well-Being, along with meeting rooms with state of the art video conference systems (including green screen room for chroma keying); a 200 sqm gym and work out area, and many other special amenities and features.
Tenkan-Ten, which means “tipping point” in Japanese, expects from its participants the rights to:
- convert loan and services in shares of their companies at a 20% discount
- carry out additional investments in their companies
- appoint an observer in the board
- first negotiations
Once the program ends, the startups will become part of the ASICS Alumni Membership Program, which will continue to support their growth plans thanks to agreements established by ASICS with ACCIO, RCD, Barcelona Tech City and the Global Sports Innovation Center promoted by Microsoft.
Leading the accelerator is Emilio Risques, who emphasizes that in the growth phase teamwork is very important and that the program will emphasize the management of teams and people.
He also adds that sports and health are very important pieces to achieve this purpose, so by joining the speed, creativity and ingenuity of startups to the knowledge, resources and connections of ASICS.