ⓘ Featured Image: Chris Locke, CEO of Rainmaking; Source: Supplied
▸ Mission to enable one million out-of-work people to launch their own startup in the next two years
Rainmaking, a corporate innovation and venture development firm, and parent company of Startupbootcamp, the world’s largest industry-focused accelerator programme has recently launched ‘RISE’, a virtual accelerator for corporates to help departing employees build their own startups. Rainmaking’s mission for the programme is to enable one million out-of-work people to launch their own startup within the next two years.
The International Labour Organization has warned that 430 million enterprises in hard-hit sectors are at risk of “serious disruption” and nearly half of the global workforce are at risk of job losses.
The company has affirmed that RISE has been developed to enable corporates to offer an alternative path to mass lay-offs, by enabling its people to take charge of their future by building it themselves. It will be launched globally, with a view to securing partnerships with leading corporates and governments. Rainmaking’s mission for the programme is to enable one million out-of-work people to launch their own startup within the next two years. Corporates participating will be able to empower their departing talent to build their future and create new value for the company through positive impact.
RISE is based upon the proven methodology of Startupbootcamp, which is credited for accelerating 877 startups. These startups have created over 4177 jobs and received over $800 million in funding. The programme is 100 percent virtual to respond to the current environment and looks to help the potential startup to move from idea or revenue within 20 weeks. Its programme vastly enhances the opportunity for startups to succeed – nearly three quarters (74 percent) of entrepreneurs who have completed a Startupbootcamp programme go on to run a successful business, vs. 10 percent of entrepreneurs who go it alone.
Commenting in the launch of RISE, Chris Locke, CEO of Rainmaking said,
“Companies faced with these difficult decisions about their people want to live their values and help their talent successfully transition into a new career as fast as possible. Yet the available options are limited to a few traditional services such as career coaching, which aren’t adequate for this new world. There are few genuine alternatives that offer a pathway that is unique, exciting and genuinely adds tangible value for the people impacted, their company and the local government,”
“This is why we created what RISE, so companies can offer a new pathway, governments can begin to rapidly kickstart the economy and the departing talent are empowered to create their own future. Times of rapid disruption provide opportunities for new startups to take advantage. We have the perfect mix of rapidly changing consumer needs, current incumbents unable to respond at the necessary speed and probably the greatest influx of talent into the job market since the dotcom boom in the early 2000’s. All of this opens up new market opportunities.”
As well as offering an intense 20-week training programme, RISE will give the startups access to early stage VCs, angel investors and over 100 carefully selected mentors with a wide range of expertise across multiple industries, who can provide hands-on support and valuable introductions. It also offers over $550K in exclusive partner deals from leading technology and wellbeing providers such as Amazon, 7 cups, HubSpot, SendGrid.
Rainmaking is one of the world’s leading corporate innovation and venture development firms with 12 offices around the world, including major tech hubs such as London, Copenhagen, Dubai, Singapore, New York, and Sydney. They create, accelerate, and scale new business with the world’s leading corporations and entrepreneurs to solve big problems.
Rainmaking has launched 29 ventures worth over $2 billion in value, including one of the world’s most active global investors and accelerators, Startupbootcamp. Since 2006, they invested in over 900 startups who went on to raise almost $1 billion. Rainmaking has partnered with 10 percent of the Fortune500 companies to bring new strategies and market-based solutions including IKEA, VISA, Airbus, Engie, HSBC, Jaguar among others. They are also a proud member of the UN Global Compact, driving major initiatives on a broad spectrum of social and environmental impact issues.