Romanian Tech Startups Association – ROTSA, in partnership with Techcelerator and Rōnin, launches Startup Reaktor, an incubation platform for technology start-ups in Central and Eastern Europe. The goal of the program is to identify and develop 200 start-ups through entrepreneurship education programs in the next three years and provide them access to investors, accelerators, universities and media institutions in the region.
The founders of early-stage technology start-ups in Europe (especially the CEE area) can join the Startup Reaktor between June 27th and September 1st, 2022, by accessing the link https://www.f6s.com/startup-reaktor/apply. The accepted teams into the program will be announced on September 14th, 2022.
Startup Reaktor is for all the early-stage teams or start-ups, no matter whether they have reached the stage of MVP (Minimum Viable Product). Applying teams must not have already established a legal entity for the project.The team or start-up can register just one project.
The evaluation criteria of the projects are: the composition and expertise of the team, the business model, the impact of the solution on the clients, the innovativeness of the solution and the way of developing the solution.
Entrepreneurs will learn for ten weeks how to validate their idea, to develop and validate an MVP, legal aspects of starting a business, how to define and analyze their competition, to create a marketing plan, how to obtain financing, how to access programs for growing and how to expand internationally. Entrepreneurs will have access to practical examples, case studies and the support of experienced mentors from Central and Eastern Europe.
The incubator team involves members of the national community who work mainly in the start-up ecosystem and ambassadors in each of the targeted countries.
Start-ups may belong to any industry, such as: AdTech, AgriTech, Car service / marketplace, Cloudtech and DevOps, Commercial space mission, Crypto / Blockchain, Cybersecurity, Data, Ecommerce, Edtech, Energy, Environment Tech, Field Service, Fintech, Foodtech, Gaming,
Hardware Prototype, HealthTech, HR Tech, Industry 4.0, Insurtech, Investing platform, IoT, Legal Tech, Marketing Tech, MedTech, Mobile Apps for all verticals, Online on-demand home services, Product management, PropTech, R&D automotive, Retail Techs, Robotics, Saas, Smart City, Social Marketplace, Software robots, Space, Tourism Technology, Transport, VR / AR, Wearables.
The timeline for the first edition of Startup Reaktor:
June 27 – September 1: registration of projects in the program through f6s.com/startup-reaktor/apply;
September 1-14: Checking applicants eligibility and interviews
September 14: Announcing the admitted participants for the incubator;
September 15 – December 5: Entrepreneurial education program and modular mentoring;
December 8: Special event with guests from the EEC start-up ecosystem;
December 15: Demo pitching day & feedback;
January 15 – April 15, 2023: After-programme funding opportunities.
“This platform has a significant competitive advantage: it provides a framework through which the founders can test and validate the problem their business would solve. We often meet entrepreneurs who do not test their proposed ideas enough and often validate them only with family and friends. Through this platform, which to some may resemble an external MBA program, we want entrepreneurs to realize if their solution is one for which there is a demand, to go through the questions that a founder should ask himself and especially to experience all the situations they might encounter in business. We strongly believe that through this education based on experimentation, we can constantly create new and new generations of start-ups that can obtain funding and that can develop internationally“, says Tudor Pasc, Incubation Director at ROTSA.
“We see in Romania and in the CEE more and more ideas with global potential, enthusiastic and courageous entrepreneurs willing to fight for their vision and to dedicate all their resources to create value, to solve burning problems, to change industries for the better, to accelerate the transformation of our lives, thus putting another brick in our evolution. Everyone needs the right resources to develop their ideas sustainably. The good news is that there are financial resources, the even better news is that we dedicate our energy to building the best investment opportunities, thus supporting those who contribute to developing these opportunities. We have access to the necessary tools, and we just need to aggregate them in a transparent, easy and accessible way. This is our goal at Startup Reaktor”, says Ovidiu Ghiman, Chairman of the Board & Co-founder Ronin.
“We know that there are ambitious young people in the region who want to contribute and be part of projects with impact. We know that many choose to grow professionally in more developed western countries, in the USA or Asia. If in the past Romania and the CEE and EEA region were poor in opportunities for wannabe founders, today things have changed for the better. Through Startup Reaktor, we propose a valuable and relevant offer: entrepreneurship from your country. We offer support and the optimal framework from the beginning to those who are seriously thinking of setting up a startup and developing a product with potential, a focused agenda that finds out what a business needs to grow, become sustainable and to have success”, states Cristina Țoncu, Co-Founder and Managing Director of Techcelerator.
The partners of the program are: Fintech Moldova, InnovUp, Spanish Startups, Found.ation, INNOVA, Startup Wise Guys, Startups 364, InfinityGreece, Startup Poland, ESU Spain, ZAVOD MLADI PODJETNIK, CroStartup, Scaleup4Europe, Startup Grind Luxembourg, Tech Ventures Consulting, Growceanu, Fortech Investment, Primainvest Capital Management, Fonduri Structurale, Consolid8, Grai Ventures, Laurentiu, Laurentiu & Associates – Attorneys at law, Colors in Projects,
EMCC, Octogon, TopMinds, Cluj Startups, Cluj IT Cluster, Fab Lab Iasi, Make IT Oradea, Rubik Hub, Asociatia Cluster de Educatie, DiFine PR, SocialPedia, Știrile Transilvaniei, Digitalio, Smart Everything Everywhere, Students Organization from the Technical University of Cluj-Napoca.
ROTSA (Romanian Tech Startups Association) is a non-profit organization that aims to promote, support, and represent the interests of technology start-ups in Romania. ROTSA, by collaborating with the main players in the national ecosystem of technology start-ups, carries out the national mapping of the tech start-ups in Romania, in an effort to generate data related to the status and evolution of the tech start-up companies. ROTSA’s vision is to develop and support the ecosystem of technology start-ups, while also being a connector for the main players and a link with other international ecosystems.
Techcelerator is the SEED accelerator that is targeting high-tech startups in Romania and South-East Europe. Headquartered in Bucharest and Cluj-Napoca, Techcelerator is the first accelerator in Romania to allocate funds for the development of high-tech companies in the acceleration and post-acceleration phase. Innovative young companies with high potential for international development and expansion from growing industries such as FinTech, B2B SaaS, eHealth, PropTech, cybersecurity, artificial intelligence, digital transformation, and others are targeted for acceleration and investment. Techcelerator benefits from the strategic support offered by GapMinder, Google for Startups and collaborates with several other local and European investors to support the tech ecosystem in Romania and South-East Europe.
Techcelerator has successfully supported over 90 startups during previous acceleration rounds, as well as through various support programs, organized by it or in partnership with other entities in the ecosystem. In the four years since its launch, the companies in the Techcelerator portfolio have benefited from a total investment of over 15 million EUR from the investment rounds attracted so far.
Rōnin is the investment platform that supports local and European entrepreneurs to finance their business ideas regardless of the industry they belong to or their development stage. The Rōnin team selects innovative companies that have the potential to scale, according to an independent evaluation grid, to support them in increasing their level of investment readiness and conducting financing campaigns, and then facilitate their access to retail investors. With a minimum investment ticket of only €100, everyone has now the opportunity to invest in start-ups, supporting entrepreneurs and the ideas they believe in achieving success. With Rōnin, more entrepreneurs can raise capital more quickly directly from potential beneficiaries, thus receiving the necessary financing and market validation. Investors can easily diversify their investment portfolios to reduce their risk exposure.