New accelerator in Romania finances tech start-ups

Techcelerator is a new acceleration program targeting tech start-ups. It funds the development of companies which are in the (pre)acceleration phase through an exclusive partnership with GapMinder, the VC fund that recently launched in Romania. The accelerator has two headquarters in Romania, in the capital Bucharest and in Cluj-Napoca. At the start of the program, 15 to 20 start-ups in the prototype or Minimum Viable Product stage will receive EUR 25,000 for a 6% stake in the company. Later, during the program, the start-ups that are most likely to succeed will have the opportunity to access a second investment round, of up to EUR 75,000, convertible in shares. Companies in growth industries such as software, cybersecurity, AI, digital transformation, IT solutions for health, AgTech, FinTech, and others are invited to apply to Techcelerator. Techcelerator will cover business coaching sessions, mentorship, expertise specific to each start-up's industry and marketing services. At the same time, start-ups can gain access to international communities for global exposure. The start-ups that show the highest growth potential will continue to be monitored by GapMinder and will be considered for future seed financing rounds. The program spans 10 weeks, and takes place with the support of 60 local and foreign mentors. The first round of the program begins on March 31. Applications can be made by March 11 at techcelerator.ro. “The most important ingredient bringing novelty is that we are the first acceleration program in Romania where start-ups also receive financing, besides the other acceleration benefits and access to extensive contact networks,” Cristian Dascălu, acceleration partner with GapMinder, said. “Techcelerator is ideal for those wishing to develop a business with international potential. We offer for the first time financing to all start-ups selected for their proposed product or service development,” Cristina Țoncu, Techcelerator manager, said. Two of the GapMinder partners established four years ago two accelerators: RICAP in Bucharest and SprintPoint in Cluj-Napoca. Theteam of Techcelerator is also experienced in supporting entrepreneurship. Accelerated growth: Where start-ups in Romania go to develop editor@romania-insider.com