For early-stage companies ready to grow, participating in accelerators in other areas of the world can help provide an onramp into new geographic regions. That was the case for MEETOPTICS, a Barcelona-based startup that took part in the Luminate Accelerator in 2022.
MEETOPTICS helps more than 25,000 professionals every month find the photonics products they need for prototyping new technologies in minutes rather than weeks, simultaneously giving manufacturers access to qualified customers in real time. Its up-to-date, technically standardised database is the largest in the photonics industry, with more than 100 trusted suppliers and nearly 100,000 products that can be compared by a user’s search criteria. Users can also access a forum to get technical questions answered and connect with custom suppliers.
Accelerating go-to-market strategies
As part of the fifth cohort of Luminate last year, MEETOPTICS focused on accelerating its go-to-market strategies and learning the requirements to sell and operate from the U.S. Luminate provided legal support; access to offices in Rochester, NY; and, most critical to the company’s growth, connections to the vast U.S. network of photonics providers, qualified investors, and companies looking for photonics products. In addition to an initial investment of $100,000 at the start of the program, MEETOPTICS later received $125,000 in follow-on funding at Luminate Finals 2022.
The MEETOPTICS team has since grown to 20 people from 11 different nationalities, now with a second office established in Rochester, NY. Part of its sales team is present in the region to boost recognition in the market and to increase participation at more American conferences. While about two-thirds of MEETOPTICS’ business currently comes from Europe, the company expects to achieve a 50% presence in the U.S. by the end of 2024.
If entering or growing in the U.S. is part of your company’s strategy for the new year, check out the Luminate accelerator, now accepting applications for cohort 7. Along with providing funding and six months of rigorous business training, Luminate can open doors to investors, supply chain partners, and other critical resources for success in the U.S. Apply by January 8, 2024.
