“Accelerator 2” is a venture capital instrument that aims to stimulate innovation by investing in startups and promising micro and small enterprises. “Accelerator 2” is an instrument of the Innovation Promotion Fund. The Fund was established on 30 December 2020 by the financing agreement concluded between the Ministry of Economy and Innovation, the Ministry of Finance and INVEGA, and is financed from the state budget.
What are the benefits?
The venture capital financial instrument “Accelerator 2” will include:
- The pre-acceleration programme for generating ideas and forming teams. Mentoring services will be provided to teams for the development of ideas, product or service development, and financial assistance will be provided to the selected programme participants.
- The acceleration program consisting of training, lectures, consulting on company formation, law, fundraising, sales and other issues. The programme will strengthen businesses, grow competencies and further develop products and businesses, as well as provide initial venture capital investments for micro and small enterprises (SEs).
- The venture capital investments for micro and small (SE) enterprises in the pre-seed and seed stages.
Who is eligible?
- Individuals who have business ideas and eager to develop them. They will be able to participate in the pre-acceleration programme.
- Micro and small businesses.
What is the maximum amount?
18 million euros have been allocated for the implementation of the venture capital measure “Accelerator 2” from the Innovation Promotion Fund. The two financial intermediaries selected by INVEGA will also attract funds from independent private investors.
How does it work?
Following the selection of the two financial intermediaries, each will set up two venture capital funds – the Pre-seed Fund, which will carry out pre-acceleration and acceleration programmes and initial venture capital investments, and the Seed Fund, which will carry out venture capital investments.