The venture firm will lend funding and expertise to the relatively new accelerator. According to a press release, the third URBAN-X cohort will receive $100,000 and participate in a five-month program, where the second cohort without Urban.Us’ involvement had access to $60,000 and took part in a three-and-a-half-month program. URBAN-X will only accept 10 companies into its cohort.
Those companies will also be able to access another $200,000 contingent upon financing, according to a press release. Those in the cohort will spend their accelerator time in the automaker Mini’s A/D/O design center in Brooklyn.
In its first two cohorts, the accelerator has worked with several companies whose business included performing data analytics for cities.
“URBAN-X is passionate about new city-scale solutions, and we will continue to deepen our engagement with founders developing products and services to address global challenges in mobility, energy, the built environment and urban infrastructure,” URBAN-X Managing Director Micah Kotch said in the statement. “Many of the problems we face in cities are visible on a global scale, and as a result it’s critical that we meet a diverse set of leaders on the ground in their respective cities. The great urbanization of the globe is impacting our lives every day, from subtle lifestyle choices to major economic shifts, to how we think about connectivity.”
The deadline to apply for the third URBAN-X cohort is 6 p.m. Eastern time on July 21. The accelerator is currently on a tour of the U.S., Canada and Europe to spread the word about its program.
