Sweden-based furniture company IKEA has invited 20 growth-stage startups across the globe including India, to participate in its IKEA Bootcamp programme.
According to the company, during the three month-long programme, which is scheduled from March 25 to June 18, 2019, it will be looking to find partners who will focus on solving issues such as affordability of their products, being accessible to people globally etc.
“We see the IKEA Bootcamp program as an opportunity to find startups with creativity and knowledge that can truly challenge us going forward. This is an opportunity to see where we can find new talents, new possibilities, and scale good ideas in order to be a partner for positive change,” said Peter Betzel, CEO IKEA India.
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This development comes as a part of its business model restructuring plans. Under this plan, while it is looking to increase its employees in India, the company has also cut down around 7,500 jobs across the globe.
“India has a dynamic and robust startup ecosystem that has taken a quantum leap during the last decade. The entrepreneurship mindset that many young Indians are coming with is truly a sign of many future developments in India,” Betzel told Inc42.
IKEA’s startup programme was launched in 2017 in association with Denmark-based Rainmaking where 10 startups had participated to accelerate their business.
What’s There For The Startups
According to IKEA, the programme this year will be hosted in collaboration with IKEA range and supply in order to focus on product and supply chain development.
During the three month period, the startups will not only be managing their day-to-day business but will also co-create with IKEA and Rainmaking and will be exploring opportunities for future collaborations.
The startups will also get an opportunity to develop their businesses by learning from Rainmaking’s experience with accelerators.
The registration for the programme is now open and aspiring startups can apply for the training till December end.
The programme will conclude with its final event called ‘Demo Day’ where the startups will be presenting their progress and future plans with IKEA.