Our reality has taken quite a turn since the COVID-19 virus has spread throughout the world, leaving most of us in a stage of uncertainty until a vaccine is found. Though it’s not only our personal lives that have felt the change, the economy isn’t looking so good, leaving the high-tech industry and startups specifically in a state of chaos. Some startups have had to adapt operations and rethink their business strategy, while others have found themselves experiencing crazy growth over a short period - both can bring operational risks.
As a way to minimize the crisis’ harmful effects and induce growth for the Israeli economy and the local ecosystem, 365x scale-up program along with global corporations are launching a specialized program dedicated to post-COVID solutions, in an effort to better prepare global businesses to adopt new routes of operation as we adapt to our new reality.
The program, which is open to scale-up stage startups that already have a product in hand and initial clientele, accelerates startup growth into new global markets as well as helps them land Series A investments.
“We open a path to the next stage, including distribution contracts, new customer recruitment, and setting up sales operations abroad,” explains 365x Israel Director Jordan Shechter, “Our startups have reached more than $365 million in sales with estimated company evaluations valued at over $1 billion.”
The 365x program, which will focus on post-COVID-19 solutions, has harnessed the support of major global corporations like Microsoft, Salesforce, Prodware, Tech-Data, Japanese insurance corp. Sompo, technology and integration company UST Global, and financial solution company Max. This impressive backing of global giants will allow the program to offer strategic support in finding startups the right investors and penetration of new markets. For this, the program wants software and IoT startups that use B2B or B2B2X business models and operate in the following industries: Enterprise tech; Healthtech; Retail & eCommerce; Fintech; Insurtech; supply chain; remote communications; cyber-security, and the list goes on (the full list can be found on the website).
The program was founded just 2 years ago but has already produced 90 alumnus startups from both the NYC and Israel-based programs. Registration opened on July 7th and will continue until the 29th for both 365x Israel and 365x NYC.
365x is an accelerator program for scale-up stage startups with a technological base, initial clientele, and are ready to expand into global markets. The program was founded in 2018 by Sarona Partners - Israeli startup ecosystem focused on growth.