Sursa foto Jakub Jirsák | Dreamstime.com
A consortium of companies from Romania and Bulgaria, with the support of EIT Climate KIC, is developing the Black Sea ClimAccelerator, an accelerator program to support 42 green start-ups at various stages of development with mentoring, business consulting and investment readiness training, as well as a total funding of €300,000.
According to a press release from the initiators, in the first edition of the Black Sea ClimAccelerator, participation is free of charge and includes tailored support activities, divided into three categories according to growth needs.
Thus, start-ups that have an idea and are in the early stage fall into the first category – Early stage, and 16 such companies from Romania will receive a grant of 5,000 euros offered by EIT Climate KIC and will benefit from workshops to validate the business idea and product-solution fit.
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Also, start-ups that have a validated prototype with customers fall into the second category – MVP. For such businesses there are six places available in the program, with benefits such as a €20,000 grant from EIT Climate KIC, access to workshops on marketing and sales, monetization and pricing, team alignment, business scaling, as well as expert advice according to specific needs.
In the third category of the programme – Growth – are six start-ups with scalable solutions who will benefit from expert consultancy sessions on their specific needs, including understanding the terms sheets for investment (the other key commercial aspects of the deal – economic and on control of the start-up), activities to identify grant opportunities both locally and internationally, and facilitation and support activities to prepare them for attracting investment and funding.
“All registered startups will also participate in one-on-one mentoring sessions, national and international peer sharing sessions and connect with key players in the ecosystem through activities conducted predominantly online. In addition, category 2 and 3 startups will participate in national and international events and fairs and in Demo Day, a national event where they will present their solution in front of key market players and participate in networking sessions,” the source said.
Applications for category 1 and 2 startups are open until the 15th of September 2021, while category 3 applicants will enter the program following an invitation from the organizers and a customized selection process with a jury of investors and business angels.
Start-ups participating in the program will be announced on 22 September 2021, and support activities for start-ups in the Early stage category will take place from October to November. From October to December the activities prepared for start-ups in the MVP and Growth categories will take place, while on 9 December Demo Day, the event where companies can present their solutions, will take place.
The Black Sea ClimAccelerator, developed in partnership with EIT Climate KIC, becomes part of an ecosystem of seven consortia from over 30 countries in Europe, Africa, the Middle East and South America.
EIT Climate-KIC is a Knowledge and Innovation Community (KIC) working to accelerate the transition to a zero-carbon society and climate resilience. Over the past 10 years, EIT Climate-KIC’s accelerator program has been the leading provider of climate innovation solutions, with over 1,500 accepted solutions and nearly €1 billion of guaranteed capital.
The Climate Vertical is an initiative in Romania that aims to solve critical climate challenges by activating and engaging the community to support startups to build sustainable solutions.
Innovation Starter is Bulgaria’s first specialized innovation agency, founded by Leona Aslanova in 2014.