Intel Ignite’s Journey: 5 Years of Game-Changing Startup Acceleration
2024 marks 5 years since the launch of Intel Ignite. During this time, our deep tech startup accelerator has left a profound impact on the global startup ecosystem. We have engaged with thousands of early-stage tech startups, screened more than 4,500 startups, and accelerated 216 deep tech startups. In helping our founders turn world-changing ideas into successful companies, our entrepreneurs have raised more than $3.5 billion in follow on funding and acquisitions.
And the benefits are not just the funding for our portfolio companies, but in fostering and developing the startup ecosystem. “The fire that Intel Ignite lit will burn for a long time,” said Roy Yogev, CEO of Oolo (acquired by Appsflyer). “The knowledge, the belief, the approach, the way to deal with difficulties and successes, the help to other startups. Everything you passed on to us continues with us in our daily activities. Our success is yours. We will take this knowledge and pass it on to others. We will help other startups and try to pass on Intel Ignite’s approach to more and more companies.”
We started Intel Ignite in 2019 with a small team, a unique approach to corporate accelerators, and most of all, big dreams. We’re proud to have made so many of these dreams come true, and to have accomplished much more than we ever thought imaginable.
A Look Back in Time
Five years ago, no one had a clue what Intel Ignite was, or even why the world would need another startup accelerator. “When you’re a very early-stage startup, you might be good enough from a technical standpoint, but you may be missing experience as a founder or CEO and the knowledge of how to run and scale a company. No one really helps deep tech startups cross this chasm,” said Tzahi (Zack) Weisfeld, GM & VP, Intel Ignite. “How do you figure out your product market fit? How do you unlock your next round of funding? How do you understand customer demand? We figured out there’s a position in the market that’s not being covered by anyone else in the early-stage deep tech startup space, and that’s exactly where we’re focused.”
Our mission at Intel Ignite is to help founders succeed, but at the same time, we also see ourselves as a startup within Intel and launched with an entrepreneurial mindset from day one. Our team faced many challenges with this approach, but it also became one of the secrets behind Intel Ignite’s success.
With the support of many who saw the potential of the accelerator, Intel Ignite rapidly took off. We were able to expand with new cohort locations and a global employee base – adding a European program in 2021, a US program in 2022 and a UK program in 2023.
From Startup Founders to Industry Trailblazers
In these four geographies, and indeed, around the world, Intel Ignite has accelerated hundreds of startups in conquering the most critical phases of startup growth: finding the ideal market fit, overcoming the technical challenges during research and development, and positioning for success when going to market. From identifying customer pain points all the way to helping founders perfect their pitch through storytelling, the guidance of industry-leading experts and access to a collaborative environment enables these founders to solve their toughest business challenges.
The power of the global network, lifelong support and investor access has resulted in sizable funding rounds, countless growth stories and successful startup exits across the board. In fact, Intel Ignite’s portfolio median last year rested at $20 million, doubling the Dealroom median. Still, beyond many of these numbers and monumental moments, it’s difficult to quantify the impact Intel Ignite has had on the startup ecosystem – from the founders our program has impacted, to the deep relationships we’ve created with VCs and tech executives, to the lives changed by these innovations.
Some words below capture the thoughts of a few of the many founders touched by our program:
- “You did work that changed the industry, connected us, prepared us, and you will always be part of the journey of our development and success” – Neatsun Ziv, CEO OX Security
- “Intel Ignite has been an incredible springboard for us and a forum to meet and work alongside fantastic, driven, ambitious people – you did something amazing*! *translation: ‘epic sh*t’” – Mark Rushworth, Founder & CEO, Finchetto
- “It is such a great initiative, supported by a really great community and well done for being the life behind the brand. You made all the difference.” – Peter Charlesworth, Managing Director, OpenMatter Ltd
- “The Intel Ignite program was transformative for TenSixty Bio as first-time founders. It provided us with critical insights into startup dynamics, investor relations, and strategic decision-making, which helped accelerate our growth. The mentorship and the program’s practical guidance were invaluable in shaping our early trajectory.” – Daniel Montoro, Co-Founder & CEO, TenSixty Bio
- “Going through the Intel Ignite program was the single most powerful catalyst for my startup, Tristar AI. We have grown from 2 to 20, and are about to raise our series A with upwards of 1 million in annual revenue. All of this began from scratch in the Intel Ignite office. I will never forget the incredible team here – they taught me and my team concepts that translated into our day-to-day and got us to where we are today.” – Salem Karani, Co-Founder & CEO, Tristar AI
Igniting Innovation through Mentorship
Over the course of 21 cohorts, more than 300 internal Intel mentors and external industry mentors and experts have helped ignite our startups. “I’m in awe every day of the amount of talent within Intel,” said Yuval Avnon, Global CTO, Intel Ignite. “We have an army of mentors from across Intel, who provide unparalleled value, experience and knowledge to the founders in the program.” The strategic selection of mentorship pairs beyond just technical skills and experience has ensured that the insights and innovations from startups are championed by individuals who have the power to drive their integration into Intel’s core operations.
That impact works both ways, with the mentors bringing value back to Intel and reinvigorating the startup mindset across the company. Intel mentors of the program have felt the influence of these engagements change their everyday work, from the pace they work at to the culture of the teams they manage to the new information they learn about the markets they operate in – all because of the time they spent with the founders.
Gratitude for our Team
None of this would be possible without our very own team here at Intel Ignite. Operating on a co-founder-as-a-service model during the 12-week program, we have serial entrepreneurs guiding entrepreneurs often newer to the startup industry. As a team of former founders who had taken this journey before, the Intel Ignite team provides unparalleled mentoring and helps founders overcome challenges with hard-won advice and proven strategies.
Amidst the ups and the downs of the last five years, our team members are working tirelessly to adapt our program to the evolving world. Their dedication to our mission means constantly seeking opportunities to further the success of our startups, such as the establishment of Intel Ignite’s first customer advisory board to connect founders with high-level tech executives from Fortune 500 companies for mentorship and business collaborations.
Leaving our Footprint
The network we’ve created across the globe and the lifelong connections stemming from the efforts of the last five years cannot be erased, and our presence in the deep tech startup ecosystem will persist. We’re proud of the footprint we are leaving on the startup ecosystem and the next generation of deep tech innovators. Five years later, this is really just the beginning. The future of deep tech is brimming with potential. We look forward to seeing how the innovation of the startup ecosystem will push boundaries of what is possible, transform lives and make the world a better place. As Maayan Ronen, a long-time mentor of the program, said, “The impact is here to stay, and the energy that emerged will undoubtedly continue to influence the tech world.”
