A new acceleration programme that is addressed to Romanian technology startups was launched in the capital Bucharest and the city of Cluj-Napoca. Techcelerator will give funds for the development of companies in the pre-acceleration phase through an exclusive partnership with GapMinder, a venture capital fund recently launched in Romania. The programme runs over a 10-week period both in Bucharest and Cluj-Napoca, and is aided by over 60 Romanian and foreign mentors. The first round of the programme will begin on 31 March.
The programme is open to young companies operating in domains such as software, cyber-security, artificial intelligence, digital transformation, IT products for health, AgTech, FinTech, among others. Interested startups that are interested in participating in the first round of the programme may apply until 11 March on www.techcelerator.ro.
At the start of the programme, 15-20 startups in the prototype or ‘Minimum Viable Product’ stage will receive EUR 25,000 for a 6 percent stake in the company. At a later stage of the programme, startups that have the highest chances of success will be able to access a second round of investment of up to EUR 75,000, an ammount which is convertible into shares in that startup.
Techcelerator includes intensive business coaching sessions, mentoring, industry-specific start-up expertise, and marketing services. Startups will also have access to international communities for scaling and exposure in the global marketplace.
During the acceleration programme, Techcelerator members will make possible meetings between participating startups, potential investors and business partners that help start-up companies test their products or enter into strategic partnerships. Startups that will show the greatest potential for growth will continue to be monitored by GapMinder and will be considered for subsequent seed funding rounds.