Eight of the selected startups are from Romania and the rest are from Turkey, Poland, Ukraine, Bulgaria, Serbia and Georgia.
“Within Techcelerator, we have initiated since 2020 in partnership with Google for Startups and GapMinder VC the Advancing AI program, an accelerator specifically targeting startups with AI/ML solutions in Romania and South East Europe. During these years we have consistently managed to increase the quality of the applications and especially of the rounds raised by alumni companies. We are now announcing the companies selected for the third cohort and we are very confident in this program, in the mentors, advisors and international investors we work with because the founders have consistently proven to us how fast we can evolve and mature this specialization of the tech industry in the region. The rounds of over €20 million in alumni startups on AI/ML have confirmed to us very pragmatically that this is just the beginning” said Cristian Dascălu, co-founder of Techcelerator and GapMinder partner.
The program supports companies’ growth efforts and stimulates the ecosystem development in the region.
“Advancing AI #3 accelerator program targeted startups with an established team of specialists with complementary skills whose product is at MVP (Minimum Viable Product) or IR (Investment Readiness) level. The program will last ten weeks and will end on March 31, 2023. The teams will present their products, the progress made during the program and the growth plan at the bi-annual Investors Day event due in May. To increase the pace of company formation, starting this edition the program includes two parallel and complementary cohorts (tracks) – one of “MVP Acceleration”, dedicated to early-stage companies with a prototype being validated, and one of “Investment Readiness”, targeting companies with traction and go-to-market strategy, companies ready to raise pre-seed/seed rounds,” according to representatives of Techcelerator și Google for Startups.
Startups in the MPV track will be able to validate their idea in the market with real customers and increase their traction. Startups in the Investment Readiness track will be better able to implement their go-to-market strategy and attract investment.