Berkeley SkyDeck explained

Berkeley SkyDeck
Industry:Seed accelerator
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Founded:2012
Hq Location City:Berkeley, California
Areas Served:-->
Products:Venture capital
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Profit Year:-->
Owners:-->

Berkeley SkyDeck (SkyDeck) is an entrepreneurship startup accelerator and incubator program which serves as a joint venture between the Haas School of Business and Berkeley College of Engineering at the University of California, Berkeley.[1] Founded in 2012, SkyDeck promotes research and entrepreneurship in Silicon Valley.[2] It has become a top university incubator in both the United States and also worldwide.[3] [4]

Program

Startup companies join the Berkeley SkyDeck accelerator for six months (one university semester).[5] Startups accepted into the highest level cohort track receive $50,000 when they join, and $50,000 three months in—a total of $100,000 to use to build their businesses. In exchange, SkyDeck takes a five percent equity in each cohort startup.[6]

The six-month SkyDeck term finishes with a demo day when startups in the SkyDeck cohort present to hundreds of investors, seeking venture capital financing.[7] [8] SkyDeck alumni startups include unicorn Lime, a transportation company with motorized scooters, electric bikes, and carsharing, and Kiwi Campus, a food-delivery service using autonomous robots.[9] [10]

In 2018, SkyDeck raised a $24 million, oversubscribed venture fund from investors including Sequoia Capital, Mayfield and Sierra Ventures. With this fund SkyDeck is allowed to invest up to ten percent in each cohort startup's first funding round, up to $2 million. In 2022, SkyDeck announced it had raised $60 million, in an oversubscribed Fund II.[11]

Notes and References

  1. Web site: About the Berkeley SkyDeck. Forbes.
  2. Web site: Berkeley SkyDeck. Berkeley SkyDeck.
  3. Web site: Bay Area universities, MIT, Harvard top startup ranking for grads who raise venture capital . GeekWire.
  4. Web site: PitchBook Universities: Top 100 colleges ranked by startup founders. PitchBook.
  5. News: Legatt . Aviva . 5 Amazing College Incubators . 27 April 2020 . Forbes Media, LLC . Forbes . January 7, 2019.
  6. News: Said . Carolyn . UC Berkeley startup accelerator gets a boost from venture fund . 27 April 2020 . Hearst . San Francisco Chronicle . August 15, 2018.
  7. News: Rinker . Brian . UC Berkeley's prestigious startup accelerator opens applications . 27 April 2020 . American City Business Journal . San Francisco Business Times . December 5, 2019.
  8. News: Sawers . Paul . Startup accelerators forge ahead with new virtual programs . 27 April 2020 . VentureBeat . April 1, 2020.
  9. News: Clark . Kate . 20 startups take center stage at Berkeley SkyDeck's demo day . 7 July 2020 . Verizon Media . TechCrunch . November 12, 2018.
  10. News: Knox . Liam . Food-Delivery Robots Are the Next Big Thing for Campus Dining. No, They Don't Accept Tips. . 27 April 2020 . The Chronicle of Higher Education . June 13, 2019.
  11. Web site: 2022-03-24 . Berkeley SkyDeck Closes $60 Million Fund II . 2023-03-12 . www.businesswire.com . en.