Techcelerator, the newest acceleration program designed exclusively for Romanian tech startups has officially launched on the market. Located in Bucharest and Cluj-Napoca, the pinnacles of Romanian innovation, Techcelerator represents the first acceleration program that offers access to investment funds for the development of companies in the (pre)acceleration phase. The financial investment is granted through the exclusive partnership with GapMinder, the VC fund that was recently launched in Romania.
In the first phase of the program, 15-20 seedings startups with a prototype or a Minimum Viable Product (MVP), will receive 25.000€ each, for a 6% share of the company. During the program, the fastest-growing startups will have the chance to receive a second investment round, up to 75.000€, convertible into shares. Anyone can apply, but the main aim is to find young and innovative companies, with growing potential when it comes to quick development and international expansion. The main wanted industries are: software, cyber security, artificial intelligence, digital transformation, MedTech, AgTech, FinTech etc.
The acceleration program will roll for 10 weeks, simultanously in Bucharest and Cluj-Napoca, under the guidance of 60 mentors, both Romanian and international. The first phase of the program will begin on 31st of March. Techcelerator consists of intensive business coaching & mentoring sessions, specific expertise on startup industry and marketing services. During the program, startups will have access to international communities for scale-up and exposure on the global market.
Throughout the program, the Techcelerator team will facilitate meetings between the enrolled startups and potential investors and business partners, with whom startups can test their products and close strategic partnerships. The ones who prove their growing potential, will continue to be monitored by GapMinder and taken into account for the next rounds of seed financing.
“Techcelerator is a new program, but we have behind accumulated experience, in similar acceleration programs. Two partners from GapMinder are from the ones who founded 4 years ago two well known accelerators, RICAP (in Bucharest) and SprintPoint (in Cluj-Napoca). The members of the Techcelerator team have international experience in supporting the entrepreneurship, they worked in business accelerators in Europe and were part of the team from the two local accelerators mentioned before.
The most important ingredient that brings novelty is that we are the first Romanian acceleration program where startups also receive funding, along with other acceleration benefits and access to extensive network of contacts. All these will transform quickly the participant startups from the project level to high performing business”, said Cristian Dascalu, Acceleration Partner, GapMinder.
“Techcelerator is the ideal program for those who want to develop their businesses with an international potential. We grant for the first time funding to all selected startups for the development of the proposed product or service. In the same time, we have prepared an intensive mentoring program during which the founders and their teams will work with industry experts relevant to their business“ said Cristina Toncu, Manager Techcelerator.
Whether you are a startup owner or part of a team, if you are interested to participate in the first round of the program, the applications are open until March 11th, here. You can apply either as a company or as an individual with an innovative tech idea.