On Thursday, January 31, 2019, seven of the start-ups of the second batch of Techcelerator’s acceleration program marked its completion through a pitching session in front of the general public and new potential local investors. Also, four of the start-ups from the first Techcelerator batch were on stage to get an additional round of funding.
During the Demo Day event organized in Bucharest, five start-ups got additional investments between € 25,000 and € 75,000 from strategic partner GapMinder Venture Partners BV, co-funded through the Competitiveness Operational Program 2014-2020.
The start-ups that received additional rounds worth a total of € 200,000 are xVision and Beez, form the second batch of Techcelerator, completed with the occasion the January 31 event, namely MedicAI, MiioSmile and ialoc, which were part of the first batch of the acceleration program.
The assessment was based on the evolution of companies over the last 3-6 months, the impact of their solutions to address market challenges, team performance and the start-ups strategies. The jury included the founding members of GapMinder Venture Partners, start-ups investors, program partners, and technology journalists.
The acceleration program had an over 10-weeks period and benefited from the support of more than 60 Romanian and foreign mentors. Techcelerator included intensive business coaching sessions, mentoring, specific know-how transfer according to the start-up industry and marketing services. Start-ups also have access to international communities for scaling and exposure to the global market.
By February 25, 2019, any tech start-up wishing to join the third batch of Techcelerator can apply here.
About GapMinder Venture Partners BV
GapMinder Venture Partners BV is an investment fund set to provide capital for early stage companies with traction and for developing technology SMEs in expansion phase both on local or international level. The focus is on technology and services, sectorial diversification, product-centric and team-centric targets. GapMinder invests in Series A, Seed, and pre-Seed rounds.
Fund’s partners have a hands-on approach as investors, enhancing companies’ organic growth via direct involvement in operational streamlining, corporate governance, financial discipline, and coaching management.
About Techcelerator
Techcelerator is an acceleration program targeting Romanian technology start-ups. Headquartered in Bucharest and Cluj-Napoca, two important centers of Romanian innovation, Techcelerator is the first accelerator in Romania to allocate funds for the development of companies in the (pre)acceleration phase. Thanks to the strategic partnership with GapMinder Venture Partners, are targeted for acceleration and investments young innovative companies with high potential for international development and expansion in growing industries such as: software, cyber security, artificial intelligence, digital transformation, IT solutions for health, FinTech and others.
About European Investment Fund
European Investment Fund (EIF) is part of the European Investment Bank Group and is the main venture capital for SMEs in Europe, via venture capital instruments, guarantees and microfinance. In Romania, the EIF implements financial instruments funded through structural and investment funds: JEREMIE 2007-2013, SME Initiative and financial instruments from PO Competitiveness, Regional Operational Program and NRDP.
About the Competitiveness Operational Program
The Competitiveness Operational Program 2014-2020 (POC) supports investments to meet the needs and challenges of low levels of economic competitiveness, in particular with regard to (a) insufficient support for research, development and innovation and (b) infrastructure developed by Technology Information and Communication. POC benefits from a € 1.33 billion allocation from the European Regional Development Fund.
