Berkeley_SkyDeck

Berkeley SkyDeck

Berkeley SkyDeck

Startup accelerator and incubator

Berkeley SkyDeck (SkyDeck) is a high-tech entrepreneurship startup accelerator and incubator program at the University of California, Berkeley serving as a joint venture between the Haas School of Business and Berkeley College of Engineering.[1] Founded in 2012, SkyDeck promotes high-tech entrepreneurship in the Silicon Valley.[2]

Quick Facts Industry, Founded ...

With Pitchbook ranking Berkeley alumni second to Stanford in producing venture capital-backed entrepreneurs, SkyDeck has become a top university incubator within the United States.[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.[5] 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]

Berkeley SkyDeck Fund

In 2018, SkyDeck raised a $24 million, oversubscribed venture fund from investors including Sequoia Capital, Mayfield and Sierra Ventures.[6][8] With this fund SkyDeck is allowed to invest up to 10 percent in each cohort startup's first funding round, up to $2 million.[5][6] In 2022, SkyDeck announced it had raised $60 million, in an oversubscribed Fund II.[11]

References

  1. [1]
    "About the Berkeley SkyDeck". Forbes.
  2. [2]
    "Berkeley SkyDeck". Berkeley SkyDeck.
  3. [3]
    Bay Area universities, MIT, Harvard top startup ranking for grads who raise venture capital, GeekWire, August 31, 2018
  4. [4]
    https://www.dailycal.org/2013/10/24/study-lists-uc-berkeley-among-top-universities-producing-entrepreneurs/ Study lists UC Berkeley among top universities for producing entrepreneurs. The Daily Californian. Retrieved 19 May 2020.
  5. [5]
    Legatt, Aviva (January 7, 2019). "5 Amazing College Incubators". Forbes. Forbes Media, LLC. Retrieved 27 April 2020.
  6. [6]
    Said, Carolyn (August 15, 2018). "UC Berkeley startup accelerator gets a boost from venture fund". San Francisco Chronicle. Hearst. Retrieved 27 April 2020.
  7. [7]
    Rinker, Brian (December 5, 2019). "UC Berkeley's prestigious startup accelerator opens applications". San Francisco Business Times. American City Business Journal. Retrieved 27 April 2020.
  8. [8]
    Sawers, Paul (April 1, 2020). "Startup accelerators forge ahead with new virtual programs". VentureBeat. Retrieved 27 April 2020.
  9. [9]
    Clark, Kate (November 12, 2018). "20 startups take center stage at Berkeley SkyDeck's demo day". TechCrunch. Verizon Media. Retrieved 7 July 2020.
  10. [10]
    Knox, Liam (June 13, 2019). "Food-Delivery Robots Are the Next Big Thing for Campus Dining. No, They Don't Accept Tips". The Chronicle of Higher Education. Retrieved 27 April 2020.
  11. [11]
    "Berkeley SkyDeck Closes $60 Million Fund II". www.businesswire.com. 2022-03-24. Retrieved 2023-03-12.
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