What are the benefits?
The Accelerator Fund is implemented through the fund of funds Business Financing Fund that is financed from the European Regional Development Fund. The manager of the fund of funds is Invega and its founders include the Ministry of Economy and Innovation, the Ministry of Finance and Invega. The Business Finance Fund is financed from the EU funds under the Operational Programme for the EU Funds’ Investments in Lithuania in 2014–2020.
Accelerator funds are designed to invest in micro and small enterprises and provide mentoring, training and consulting services to such enterprises.
Currently, there are 2 accelerator funds and 2 pre-seed venture capital funds operating under the instrument Accelerator Fund.
The team of Startup Wise Guys manages:
- The pre-seed venture capital fund Wise Guys Pre-seed Fund I, which provides training and knowledge of business development and invests in them later, and
- The seed fund Wise Guys Seed Fund I, which co-invests in young enterprises at an early stage.
The team of 70 Ventures manages:
- The pre-seed venture capital fund 70 Ventures Accel, which provides training and knowledge of business development to start-ups and invests in them later, and
- The seed fund 70 Ventures Seed, which provides funding for young enterprises at the subsequent stages of their development.
What companies are eligible?
Micro and small enterprises.
What is the maximum amount?
The funding amount allocated by European Regional Development Fund (ERDF) equals 13.47 million euros. In total, together with private investors, The Accelerator Fund amounts to 15.66 million. euros.
How does it work?
Information on the Fund is available on the websites