Techcelerator continues to support the Romanian startups by starting today, March 26, its fourth batch with 9 startups selected from a number of 250 initial applications, which will benefit from intensive mentoring. The acceleration program will take place exclusively online. With projects from areas such as HealthTech, FinTech, legal, electronics, RPA or lead generation for companies, the startups of this batch are:
– Aggranda – creates software robots that automate repetitive processes within companies. This way, Aggranda helps employees to spend more time dedicated to activities with higher added value, and also helps companies to scale faster.
– AMSIMCEL develops a Software-as-a-Service (SaaS) platform to accelerate the physical verification stage of integrated circuits. The product targets the manufacturers of integrated circuits (B2B), offering high speed and precise verification that will shorten the development / production cycle.
– credia.store: a digital consumer credit brokerage platform, available for physical retailers and service providers, which helps increase their sales and offers an additional sales channel for banks and non-banking financial institutions.
– DATA AGAINST DATA connects personal users with any personal data operator, empowering their choices through technology and increasing the confidence in the data industry through transparency.
– Lab7 develops SmartCover, an intelligent office chair cushion that monitors the user’s posture and provides directions, in order to take a correct position.
– OncoChain: innovative blockchain-based platform that facilitates the collection of data useful in research, personalized medicine and patient-centered healthcare in the oncology field.
– Soleadify: search engine for companies, used by marketing and sales teams to find the ideal customers.
– Voxi Kids: the first platform that connects speech therapists and children through an application that offers special exercises to improve listening and pronunciation.
– YeParking: a solution for effectively distributing, renting, monetizing and using the parking infrastructure of a city. This includes residential, commercial or private parking spaces.
Techcelerator’s strategic partner, GapMinder Venture Partners BV, reserved up to 1 million euros for investments in the 9 companies in exchange for a stake in the company. The selected companies have the opportunity to access funds from TechAngels. Based on the partnership between the two entities, GapMinder will participate in any round of investments between 40,000 and 200,000 euros made by TechAngels members with a similar amount.
GapMinder Venture Partners BV has reached a value of over 40 million euros and has invested in 35 companies so far. The venture capital investment fund is co-financed through the Competitiveness Operational Program 2014-2020, implemented by the European Investment Fund.
“Beside the initial funding and the possibility of accessing new individual rounds, after evaluating the progress made during the program, the startups will catch the eye of various business angels with whom we and GapMinder collaborate closely. We will announce each of the investments on the way”
GapMinder VC partner and co-founder of Techcelerator.
The fourth round of the acceleration program will last until June 2020, and will take place in both Bucharest and Cluj-Napoca, in virtual format until the critical period generated by the pandemics is overcome. The program will be rolled out with the support of corporate partners and approximately 60 Romanian and foreign mentors and business angels.
“We had about 250 applicants for this batch, we pre-selected 20 during a boot camp, of which nine were accepted into the program, and most of them will also benefit from the investment. We are convinced that these startups will have an ascending path, as in the case of many Techcelerator alumni, which have remained very close to the community we have created, and which is constantly growing. We are facing a challenging period, but the added value that we are offering to the participants will remain the same. Our mentors and partners continue to support our efforts. Only the way we work with each startup in the next period will be different because, temporarily, we will rely only on online communication solutions”
Techcelerator Program Manager
Startups from the fourth batch of Techcelerator will benefit from intensive business coaching sessions, mentoring, specific know-how depending on the respective startup industry and marketing services. Moreover, startups will have access to international communities for growth and global scaling.
At the end of the acceleration program, the participating startups will pitch their business ideas during a Demo Day event, thus being able to attract additional investments from other investors.
Via Techcelerator, 27 startups have completed the first three rounds of accelerated development, benefiting from a total investment of 1.35 million euros from the venture capital fund GapMinder Venture Partners.
GapMinder is a 40 Million Euro venture capital fund investing in high technology companies born in Romania and Central Europe and scaling-up at international level, at Seed or Series A stages. GapMinder’s partners have a hands-on approach as investors, enhancing companies’ growth via strategic advisory and direct involvement in operational streamlining, corporate governance and financial discipline. GapMinder’s portfolio includes companies such as FintechOS, TypingDNA, SmartDreamers, Deepstash, Frisbo.
The fund is co-financed through the Competitiveness Operational Program 2014-2020.
Techcelerator is an acceleration program targeting Romanian technology startups. 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.
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.
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.