14 technology start-ups entered the process of finalizing the investment of up to EUR 100,000 per company from GapMinder venture capital fund for accelerated development within the Techcelerator program.
Start-ups were selected from an initial number of over 140 applicants. Following a rigorous evaluation process, there were 20 start-ups in the semifinal which, in a bootcamp, benefited from pitching pitch and pitch deck designs, as well as one-to-one sessions with the mentor group, respectively the investors. They then named the most promising 14 start-ups of this round that entered the process of finalizing the investment:
–Apiary Book, an application designed for beekeepers worldwide and efficient management of hives, which now has the highest number of users worldwide;
–AppSeed automatically creates websites for those who do not have webdesign or programming experience;
–ChatX.ai is a widget for searching for online products using Machine Learning for voice and image processing;
– Connected Medical Devices, a IoT solution that includes a hardware device to improve the lives of patients suffering from Alzheimer’s and their families;
–EngageApp is a platform that aims to improve the performance of corporate employees;
–FINQware is a marketplace for banking providers, an API platform to support the “open banking” trend;
–ialoc has created an effective solution for fast bookings and meal management in restaurants;
–Medicai, a Machine Learning solution designed to provide patients with an effective imaging interpretation, both by the artificial intelligence engine and by a specialist;
–MiioSmile is a SaaS application for dental professionals;
–More Money is a platform based on artificial intelligence that provides financial services advice;
–Orbiting Cubes has created self-reconfigurable modular robots;
–Ride Safe, a IoT platform and a mobile application for motorcycle safety;
–TalentBrowse is a recruitment platform that aims to quickly place candidates recently surveyed;
–WireFame is a prototype visualization tool designed by architects that facilitates communication with real estate developers.
The 14 start-ups are in prototype stage or Minimum Viable Product will have a first round of investment from the Fund Gapminder, in exchange for a stake of 6% of the company. At the end of the Acceleration Scheme sponsored by Techcelerator, start-ups that have made good progress have the chance to be invited to a second round of investment of up to 75,000 euros, convertible into shares.
“The selection of the finalists in this round was quite difficult because we saw many very good projects with potential for growth. I trust that these start-ups will be quickly imposed on the market, especially as they have the full arsenal of resources for growth: access to a very valuable acceleration program, basically a very applied mini-MBA with the help of the team and Techcelerator mentors, and consistent financing by Gapminder, t n case were gathered 1 million, “said Dan Mihaescu, founding partner Gapminder. The accelerator program, supported by Techcelerator partner, runs over a period of 10 weeks, both in Bucharest and Cluj-Napoca, with the support of more than 60 Romanian and foreign mentors.
Techcelerator includes intensive business coaching sessions, mentoring, industry-specific startup expertise, and marketing services. Startups will also have access to international communities for scaling and exposure in the global marketplace. At the end of the acceleration program, those startups will present their business publicly in a DemoDay event. GapMinder is a venture capital investment fund targeting innovative startups in Romania in seed, first round investment, or pre-seed (acceleration) phase. GapMinder seeks to bring together technology companies with high potential for international expansion in areas such as IT and software, cyber security, artificial intelligence, digital transformation, IT solutions for health, FinTech, etc. GapMinder is the first venture capital fund created by the selection of the European Investment Fund.
It is mostly funded through the Competitiveness Operational Program 2014-2020, co-funded by the European Regional Development Fund. Techcelerator is an acceleration program that addresses 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. Financial support is provided through the exclusive partnership with GapMinder , the venture capital fund recently launched in Romania. Young innovative companies, which consider that they have high potential for international development and expansion in growing industries such as: software, cyber security, artificial intelligence, digital transformation, IT solutions for health, AgTech, FinTech and others, are targeted.