Business & Finance

Program launching to support 42 green startups in Romania and Bulgaria

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42 green startups in Romania and Bulgaria will be sustained in their development by an association of Romanian and Bulgarian companies, with the support of EIT Climate KIC, as part of the broader development of the program Black Sea ClimAccelerator.

The project is an acceleration program to support green startups in various stages of their business development, with mentoring programs, consulting in business, and preparation for attracting financial investments. At this moment, a budget of total financing of 300,000 euros is at stake.

According to a recent press release from the initiators of the project, in the first edition of Black Sea ClimAccelerator participation is free of any charge, and includes personalized support activities, divided into three categories, depending on growth needs of each startup.

As per the information listed on the ClimAccelerator website, application deadline to enter the program is to be confirmed.

Start-ups that have an idea and are in the early stages of developing on their idea fall into the first category, which is the Early Stage category. As part of this category, 16 such green startups in Romania will receive a grant of 5,000 euros provided by EIT Climate KIC, and will benefit of business idea validation workshops and product-solution fit.

Green startups that have a prototype validated with customers fall into the second category, which is the MVP. For such businesses there are six places available in the program, with benefits such as a grant of 20,000 euros offered by EIT Climate KIC, access to workshops on marketing and sales, monetization and pricing, team alignment, business scaling, as well as specialized consultancy according to specific needs.

In the third category of the program – Growth – there will be six green startups that have already developed scalable solutions. These companies will benefit from specialized consulting sessions on their specific needs, including the understanding of the term sheets for investments (other essential commercial aspects transaction – economic and startup control), activities to identify grant opportunities, both locally and internationally. They will also be assisted with facilitation and support to prepare for attracting more investments and financing.

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