Accelerators typically bring together a group of startups and provide them with essential resources such as accounting assistance, legal services, and training on critical business skills. This includes guidance on crafting pitch decks and securing venture capital funding.

MathWorks, as a technology provider, plays a key role in these programmes by offering engineering software to participating startups.

MathWorks is best known for developing MATLAB and Simulink, two industry-standard tools widely used in engineering, science, and applied mathematics. MATLAB is a high-level programming language and environment designed for numerical computing, data analysis, and algorithm development. Simulink is a graphical, block-diagram environment for simulation and model-based design of dynamic and embedded systems. These tools are primarily designed for engineers, however, MathWorks offers hundreds of hours of training for those who wish to learn.

Through partnerships with accelerators, MathWorks offers startups free access to its entire software suite for one year. This includes over 100 integrated products designed to support engineering and development efforts.

However, providing software alone is not enough. MathWorks also ensures that startups receive the necessary technical support to maximise their use of these tools. Participants gain access to domain-specific engineers, a technical support hotline, and training systems.

This support helps startups quickly develop their technical expertise, enabling them to accelerate product development and bring innovations to market faster.

“Ultimately, MathWorks' goal is to help these young companies establish themselves as efficiently as possible,” said Andrew Willard, Global Manager: Startups, Accelerators & Incubators at MathWorks.

Globally, MathWorks currently works with over 600 accelerator programmes, with approximately 30% based in Europe, making it one of the company's strongest markets. One of the most successful partnerships is with the European Space Agency (ESA), which runs the ESA Business Incubation Centres (ESA BICs). This collaboration is MathWorks’ largest accelerator programme worldwide, having supported over 150 startups focused on aerospace and space technology.

MathWorks does not select the startups directly but collaborates with these programmes to provide its tools and support. This acts as an entry point, allowing startups to transition into MathWorks' startup programme, which extends for an additional four years. In total, startups receive a five-year support package. The first year includes free access to MathWorks' tools, while the following four years offer the same tools at a highly discounted rate, along with continued technical support and domain-specific engineering assistance.

MathWorks offers two packages for startups:

• MATLAB Suite for Startups, priced at €1,580 per engineer. This package includes 50 tools. (If purchased individually, the cost would be €80,000)

• MATLAB and Simulink Suite for Startups, priced at €3,780 per engineer. This package includes 100+ tools

Beyond software and technical support, MathWorks actively collaborates with startups on marketing and promotional activities throughout the five-year period. This includes blog posts, videos, and speaking opportunities at industry events and roundtables. At MathWorks-sponsored in-person events, startups are provided with table space to showcase their innovations and engage with potential partners and customers.

“The goal is to offer startups not just engineering resources but also a platform to promote themselves within the industry,” notes Willard.

Note: startups do not have to come through an accelerator to join the MathWorks startup programme. Companies can apply independently, and for them, the programme lasts four years.

The eligibility criteria is broad, focusing on early-stage companies. MathWorks looks for organisations that are less than five years old, have fewer than 15 engineers (regardless of other departments like sales or marketing), and generate less than $1 million in annual revenue. The amount of capital a startup has raised is not a limiting factor – some participants have secured over €1 billion in funding and have still remained in the programme for the full four years.

In the UK, MathWorks worked with a startup called Dynisma – a company that designs world-class motion simulators. Automotive manufacturers can simulate vehicle performance before building a car, significantly reducing development time and accelerating time-to-market.

Dynisma leveraged MathWorks' tools to design and build the entire simulation environment virtually before constructing the physical hardware. This approach enabled them to refine their technology before investing in costly real-world prototypes. The company has performed well in the market, using a broad portfolio of MathWorks software to bring its product to life.

There is a constant race to market in the startup world, where being first often provides a significant advantage. Startups face intense pressure to develop and launch products quickly, as any delays increase the risk of a competitor reaching the market first. Adding to this challenge, the venture capital (VC) market is currently highly constrained. The amount of VC funding available today is 60% lower than it was two years ago, making it harder for startups to secure investment. As a result, there is immense pressure to move from an idea to a minimally viable product (MVP) and then to commercialisation as fast as possible.

“Startups that attempt to write all their code from scratch often struggle to keep up. MathWorks' tools help accelerate development by providing a foundation that allows startups to launch significantly faster. This efficiency translates into real-world success: while two-thirds of startups typically fail within their first two to three years, over 50% of the startups in the MathWorks Startup Programme are still active after five years,” said Willard.

This article originally appeared in the March/April 2025 issue of Startups Magazine. Click here to subscribe