Metxa is an accelerator of projects for entrepreneurs. Founded in 2015 by José Miguel Silgo Hernández, Laura Unzueta and Enrique Ranedo, Metxa’s objective is to invest in the projects selected to participate in their online acceleration program – Mexta BootCamp. In order to increase the number of projects supported, the Basque company has created an intensive online international program, accessible to any entrepreneur around the world wishing to solve a challenge within 10 weeks.
Metxa is backed by a group of investors who have come together specifically to support the projects selected by its program, through an investment fund. Currently, Metxa has an investment capacity of 800.000 euros. Boatjump, Value Car, Osoigo and Dog Vivant are among the startups, Metxa has invested in.
ACCELERATING VIABLE PROJECTS THROUGH CUSTOMISED MENTORING
The company’s name comes from the word “mecha” (“fuse” in Spanish). The ch was changed for tx, typical sound from the Basque language, to reflect the geographical location of the company. It is also a descriptive name, which relays what Metxa does – accelerate viable projects and invests in them.
Metxa’s business model is based on selecting viable projects to invest in, and provide customised mentoring to each project. The entrepreneurs entering the accelerator program submit their projects during Demo Day, bringing them together with a group of investors selected by Metxa. Investors can invest at different stages, at beginning, during or at the end of the acceleration program. The contractual relationships between entrepreneurs and investors tend to be short to medium term (around 6-7 years).
AN ONLINE ACCELERATION PROGRAM AND UP TO €200.000 FINANCING
Metxa operates in Spain, Colombia and Mexico, having recently launched their new online acceleration program – Metxa BootCampo – providing mentoring, access to an entrepreneurial community, and agreements with financial entities and suppliers, with advantageous conditions. In addition to these services, at the end of the program, Metxa can become an investor, financing up to 200,000 euros per project in exchange for a minority stake in the business.
What differentiates Metxa from other accelerators is that it accepts startups from any sector, not just tech companies, offering them entrepreneurial experience, a customised model of acceleration and fast-decision-making processes.
In 2016/2017 Metxa was the leader of Funcas national ranking for medium accelerators in Spain. For 2019, their main objective is to accelerate 30 startups and invest in eleven or twelve of them.