The fitness startup enters London-based Techstars accelerator.
The fitness startup Madbarz has become a part of the new generation, elite technological accelerator TechStars in London (business accelerators help startups accelerate growth during the stage of their development and business expansion). From over 1,000 entries, only one percent of applications were accepted; this translates into 11 companies, and Madbarz is one of them. With the acceptance rate of one percent, statistically speaking, it gets harder to get into TechStars’ acceleration programme than into Harvard, which has an acceptance rate of 6 percent, reports poslovnipuls.com on June 23, 2016.
Madbarz is a globally successful workout/fitness mobile app for exercising using the person’s own weight. Currently, it is one of the world’s top fitness applications and has almost one million users. Every day, 2,000 new customers from around the world are registered and the app’s popularity on a global scale is growing by the day. Madbarz mobile application is a tool that helps every person, regardless of their physical condition, to reach desired results, or even a complete transformation. All this is being done through the system consisting of a whole range of pre-designed workouts, including options for the users to create their own fitness sessions in accordance with the individual needs and to monitor progress through detailed statistics.
Madbarz is an alumni team of the Zagreb Entrepreneurship Incubator (ZIP). The founders of the team, Luka Macner and Nikola Mratinić, will be working within the Techstars programme until 20 September and will have the opportunity to keep developing and improving Madbarz while being guided by a wide network of mentors from companies such as Google, Facebook, Microsoft, Amazon, eBay, Samsung, Oracle and many others.
What makes TechStars so special is the high success rate of companies that go through the accelerator programme: on average, 75 percent of companies that complete TechStars’s programme raise millions in investment, while 90 percent of them successfully operate or are purchased by the big market players.