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What is the MIT Enterprise Forum CEE Startup Accelerator?
MIT Enterprise Forum CEE is a member of the global network of the MIT Enterprise Forum, a nonprofit organization founded by entrepreneurs who graduated from the Massachusetts Institute of Technology, the world-renowned technology-oriented university. We are dedicated to catalyzing and supporting the entrepreneurial ecosystem in Central and Eastern Europe. We provide a rigorous Acceleration Program to the most innovative, high-tech startups in the region and then help them to scale internationally..
Why is the MIT Enterprise Forum CEE program implemented?
The mission of the global MIT Enterprise Forum network is to build a better world by accelerating the creation and development of technological companies. As MIT Enterprise Forum CEE, we are building a communication platform between young technological companies and large enterprises so that the giants have easier access to the most innovative technologies and start-ups gain a chance to refine their solutions, win reference clients and establish cooperation with them on a commercial basis.
Who should apply to MIT Enteprise Forum CEE acceleration program?
We invite all technological startups from CEE countries that have innovative solutions or services from one of the following areas: Fintech, Insurtech, Energy, Smart Buildings, Industry 4.0, Digital Solutions, Digital Media, Travel & Logistics, HealthTech, Medtech, Digital Health, Martech, Sustainability and Waste Management.
What is acceleration?
Acceleration in the understanding of MIT Enterprise Forum CEE means accelerating the development and maturing of scientific and technological startups from Central and Eastern European countries. This process is carried out by providing young technological companies all the necessary resources so that they can achieve maturity and market success, including substantive support of experts and mentors who have achieved spectacular successes in international business, access to technological and technical facilities of program partners or co-financing for business development. An important role in the program is played by the cooperation of startups with large enterprises so that they can verify their solutions in real market conditions and win reference clients.
What is acceleration in the Enterprise Forum CEE program?
Acceleration in the program includes several key stages, including.
– Participation in five two or three-day workshop sessions, during which the program of 24 steps of disciplined entrepreneurship by Prof. Bill Aulet from MIT is carried out, as well as workshops with lawyers, patent attorneys, sales coaches, etc.
– Participation in the Pitch Academy
– Cooperation with mentors – each start-up is assigned to two mentors who have achieved spectacular successes in international business. Their role is to substantively support the start-ups on their way to achieving market success.
– Cooperation with program partners (large enterprises), which aims at pilot implementation and verification of the effectiveness of solutions offered by start-ups in real market conditions. For start-ups, it is both the opportunity to verify their own business assumptions and the chance to establish commercial cooperation with the leaders of various industries not only on Polish, but also international markets, i.e. winning reference clients.
– Bootcamp in Boston – a chance for five best start-ups to be offered a week’s stay in Boston, which is filled with workshops and business meetings with potential investors and partners from the USA.
What are the benefits of participating in the Enterprise Forum CEE program?
Participation in the MIT Enterprise Forum CEE program is a chance for startups from Central and Eastern European region to:
– Establish cooperation with leading Polish and international companies representing various industries, including insurance, finance, Industry 4.0, lifescience, energy, Smart Buildings and others.
– Acquire co-financing for business development up to 50,000 Euros.
– Participate in 5 workshop sessions focused on verification of business start-ups’ assumptions, as well as workshops with lawyers, patent attorneys, pitch trainers and sales coaches.
– Allow pilot and commercial implementation of products in accelerator’s partner companies.
– Gain access to global networking and present their technologies to potential US partners and investors.
– Use co-financing for individual advisory services in the field of law, patent protection, HR, team building, sales, up to PLN 50.000.
Who organizes the Enterprise Forum CEE program?
The organizer of the MIT Enterprise Forum CEE program is Polish Fundacja Przedsiębiorczości Technologicznej, which has so far implemented, among others, 5th edition of the MIT Enterprise Forum Poland program for Polish technological startups, as well as Bridge2MassChallange Warsaw acceleration addressed to startups from CEE countries. Fundacja Przedsiębiorczości Technologicznej cooperates with leading and Polish enterprises, and its activities have been under the patronage of, among others, Ministry of Development, Ministry of Science and Higher Education or Polish Investment and Trade Agency. The Foundation is one of the unique entities on the Polish market offering effective and full preparation of the corporation to the innovation model based on cooperation with startups.
Startups from which countries can apply to the MIT Enterprise Forum CEE program?
To apply to the MIT Enterprise Forum CEE program, we invite startups from Central and Eastern Europe, including Poland, Belarus, Czech Republic, Slovakia, Hungary, Austria, Romania, Slovenia, Croatia, Serbia, Bulgaria, Ukraine, Estonia, Lithuania and Latvia.
What kind of support is given to startups in the MIT Enterprise Forum CEE program?
Startups that qualify for the program receive, among others:
– Substantive support of program experts, representatives of large enterprises and mentors.
– Support in refining the product, business model and verification of business assumptions.
– Financial support for business development and consultancy in the areas of law, patent protection, HR, team building, sales, etc.
– Support in building business relations, including participation in numerous networking events.
– Startups from CEE countries also receive support in setting up companies in Poland.
What costs are associated with participation in the MIT Enterprise Forum CEE program?
Participation in the MIT Enterprise Forum CEE program is free. Startups that qualify for the project cover their own travel costs, accommodation and other costs related to possible participation in the workshops and program events taking place outside the place of residence of the team.
What formal requirements must start-ups meet in order to apply to the MIT Enterprise Forum CEE program?
All formal requirements that start-ups must meet in order to apply to the MIT Enterprise Forum CEE accelerator are set out in the program rules and regulations.
What is the evaluation of the application for the MIT Enterprise Forum CEE program?
Detailed information on the assessment of the application can be found in the program rules and regulations – §5. Substantive assessment of entries.
Which companies cooperate with the MIT Enterprise Forum CEE program?
The main partner of the program are Adamed – a pharmaceutical and biotechnological company, which was founded on the basis of Polish scientific thought and own patents, and MCX – the core of a strong group of specialized companies, including, among others, companies in the field of ICT solutions and renewable energy.
Supporting partners: Cloud Technologies, LINK4, Nationale-Nederlanden, MDI Energia SA, Sollers Consulting and PZU. The substantive partners are the Authorized Training Center of Sandler Training – Twarowski & Posmyk, Crido, EU Patent, Extended Tools, Novismo, TaxLab and Hasik Rheims & Partners. Organizations supporting acceleration are CMS Law and Tax, Foundation for Polish Science, Polish Business and Innovation Centers Association in Poland (PBICA) and Wrocław Technology Park.
The implementation of the program is supported by a grant awarded to Fundacja Przedsiębiorczości Technologicznej by the Polish Agency for Enterprise Development under Measure 2.5 POIR Acceleration Programs.
How much does it take to participate in the acceleration of the MIT Enterprise Forum CEE program?
The MIT Enterprise Forum CEE acceleration program requires commitment from the representatives of the startup, who will participate in five two or three-day workshop sessions taking place over three months. For start-ups from outside Poland, part of the workshop will be optional. Additionally, as part of acceleration, realization of pilot implementations, lasting up to 6 months, is planned. Representatives of startups are also obliged to participate in DemoDay, an event summarizing the acceleration.
Does participation in the MIT Enterprise Forum CEE program involve transferring any rights to the created technology to partners or the accelerator?
Acceleration in the MIT Enterprise Forum CEE program is carried out in the non-equity formula, i.e. neither the organizer nor the partners gain share in the startup. IP also remains in the start-up, and participation in the program is not associated with its withdrawal for the benefit of the accelerator, partners or any third party.
Which company members must participate in the MIT Enterprise Forum CEE program?
Each of the startups is obliged to send a minimum of one, and a maximum of two people who will represent the company during the acceleration. These should be people who have a direct impact on the functioning of the startup.
By taking part in the program, do I have to share the details about my technology?
Startups participating in the program, wanting to use the support of experts and mentors as effectively as possible, should share the general knowledge about the developed technology and the problem that it solves. It is up to you on what level of detail this information is provided. We do not require confidential or key data from a startup’s perspective.