What if there was a place where the brightest entrepreneurial minds converge, supported by some of the world's leading investment firms and universities? Berkeley SkyDeck is revolutionizing the startup ecosystem with its unique blend of strategic investment, global reach, and innovative partnerships.
Its groundbreaking model has already produced numerous examples of how it can empower the next generation of game-changing entrepreneurs and startup companies.
Below, we’ll explore how Berkeley SkyDeck is shaping the future of startup acceleration.
What is Berkeley SkyDeck: An Introduction
Berkeley SkyDeck is an academic accelerator formed through a strategic partnership between UC Berkeley's Haas School of Business, College of Engineering, and the Office of the Vice Chancellor for Research. This unique collaboration harnesses the expertise of these prestigious institutions to support the next generation of global entrepreneurs.
SkyDeck's mission is to provide a fertile environment where startups can thrive, leveraging UC Berkeley's vast resources and consulting expertise. The program offers startups unparalleled access to mentorship, funding, and a network of industry connections, creating a robust ecosystem for innovation and growth.
Chon Tang is the managing partner of the Berkeley SkyDeck Fund and plays a pivotal role in steering the accelerator’s vision. Tang brings the experience and insights of someone who has ample experience in entrepreneurship and venture capital. Under his leadership, the SkyDeck Fund has managed $85 million, making over 130 investments in just three years.
Another key figure is Brian Bordley, a SkyDeck Fund partner who contributes with his expertise in startup investments and strategic planning.
What is the Berkely SkyDeck Acceleration Program
Berkeley SkyDeck offers a comprehensive acceleration program designed to support diverse and promising startups globally.
A cornerstone of this program is SkyDeck’s groundbreaking public-private partnership with UC Berkeley, wherein 50% of the carried interest is donated back to the university to support research and education. This model invests in present-day startups and reinvests in academic institutions, creating a continuous cycle of innovation and development.
Investments from prominent venture capital firms such as Sequoia Capital and Sierra Ventures bolster the SkyDeck Fund. These firms contribute capital, invaluable expertise, and networks to SkyDeck startups.
Eligibility Requirements:
One of the investment platform’s ideals is to be as accessible and open-minded as possible. As such, the program doesn’t have strict eligibility requirements. Startups from all over the world and across all industry vertices are encouraged to apply.
SkyDeck’s diverse portfolio of past startups speaks to this openness. From AI medical insights to data transformation to college admissions counseling, its alumni are as diverse as it is successful.
That being said, here are some interesting facts regarding its intake process:
- Focus on UC-affiliated companies and international startups.
- Roughly 20 startups selected every six months receive a $200,000 investment from the Berkeley SkyDeck Fund.
- Historically, about 2/3 of the startups were founded outside the US.
SkyDeck Berkeley Acceleration Method
The SkyDeck Berkeley Acceleration Method (BAM) is a 6-month acceleration process for promising startups across various verticals. Between 20 and 25 selected Cohort teams receive a $200,000 investment from the Berkeley SkyDeck Fund.
These teams participate in mandatory sessions, are matched with a Lead Advisor, have designated workspace at SkyDeck, and present at Demo Day.
SkyDeck Europe
SkyDeck Europe provides specialized support for European teams, including a €145,000 investment from the Berkeley SkyDeck Fund.
These teams participate in mandatory sessions, are matched with a Lead Advisor, and have designated workspaces in both Berkeley and Milan. They also present at Demo Day.
SkyDeck Pad-13
SkyDeck Pad-13 teams have access to many of the same resources as Cohort teams. However, this excludes guaranteed fund investment, some aspects of the mentorship program, and the ability to pitch to 800+ investors at Demo Day.
The Berkeley SkyDeck Fund has the option to invest in Pad-13 teams that raise an institutional round, up to 10% of that round.
Access to Resources:
All SkyDeck Cohort and Pad-13 teams receive:
- Access to 600+ SkyDeck Advisors
- Weekly roundtables, workshops, events, workspace, and
- $750,000+ in-kind legal, financial, and tech resources from SkyDeck Resource Partners.
- Connections to customers in every industry across Skydeck’s partner network
- Access to the Berkeley Alumni Network of 500,000 living alumni
Successful Berkeley SkyDeck Alumni
The Berkeley SkyDeck accelerator program has helped a vast spectrum of ambitious startups make significant strides toward their ultimate goals. Here are five standout examples that showcase the level of success program graduates can achieve:
- Cohesity: A data management and storage solutions provider that specializes in simplifying data backup and protection for enterprises. Cohesity has raised over $660 million in funding and is valued at $2.5 billion.
- Lambs: An innovative health tech company creating protective clothing shielding users from up to 99% electromagnetic radiation.
- Xendit: A fintech startup providing payment infrastructure throughout Southeast Asia. Xendit has raised over $150 million and is recognized as one of the region's leading payment gateways.
- Suki AI Develops AI-powered voice solutions for healthcare providers and has secured $95 million in funding.
- BrainKey: Focuses on personalized brain health and wellness, using advanced imaging and AI to provide users with actionable insights. BrainKey has been featured in prominent health tech publications.
Application Timeline for Batch 19 Startups
At the time of writing, Berkeley SkyDeck is accepting startup applications to join Batch 19 of its program. Applications for Batch 19 opened on 16 July 2024, and the window will remain open until August 23, 2024.
Selected prospects will be asked to participate in the initial interview round, which will take place between September 16 and October 10, 2024. Orientation day will take place on November 4, 2024.
The actual program will run from November 4 until April 18, 2025, with startups presenting their progress on Cohort Demo Day sometime after that in April 2025.
In Conclusion - The Future of Berkeley SkyDeck
Berkeley SkyDeck is set to expand its horizons with new initiatives aimed at widening eligibility for startup applicants, ensuring a more diverse and global talent pool. The accelerator remains committed to fostering innovation, enhancing education, and making a significant global impact.
Amongst other upcoming movies, the accelerator plans to launch a new office in Shanghai, enhancing its support for Asian startups. Additionally, SkyDeck will introduce a remote participation option, allowing startups worldwide to access its resources without relocating.
With its strategic investment and strong mentorship network, SkyDeck is poised to remain a key player in the startup ecosystem, nurturing the innovators of tomorrow and driving transformative change.
As we look ahead, Berkeley SkyDeck's potential to shape the future of entrepreneurship is limitless.
