The primary objective of Sparkplug is to speed up good-quality tech startup development through a combination of financial support and guidance. In addition, also provide a strong mentorship network.
The accelerator focuses on startups with technologies from various fields, if they present technological innovation, especially dual-purpose technologies. Among the fields include: Blockchain, FinTech, big data, unmanned systems, robotics, cyber security & defence, strategic installations security, deep learning, nanotechnology, electro-optics, civilian security, aerodynamics, video analytics, image processing, face recognition, aerial defence, safe/smart city, AR/VA, training and simulation, and more.
The benefits of the Sparkplug model include:
For an angel investor, we offer a model of startup support that is comparatively resource–efficient. Teams can learn from each other, and the Sparkplug programme itself adds value more effectively through intensive mentoring as well as acting as a focal point for professional service firms.
For a venture capitalist looking for deal flow, Sparkplug will typically compete with other methods of scouting for deals, such as exploiting personal networks, building relationships with notable entrepreneurs and professional service providers, scouring universities, attending pitching events, and so on.
For a corporate with a mission to promote ecosystem development or technical innovation, the benefits of Sparkplug will need to be weighed against other alternatives. These might include in–house research and development, open innovation, mergers and acquisitions, corporate venturing, proof–of–concept funds, collaborative research, challenge prizes and so on.
For a public body or government agency with a mission to promote local economic growth, Sparkplug will likely be assessed against a very broad range of options, including direct grants, mentorship and business advice, business parks, co–working spaces, and much more. The benefits in this instance include the possibility of developing a local startup community.