FREQUENTLY ASKED QUESTIONS
Here are the answers to Frequently Asked Questions. Should you have any other doubts about participating in the MIT Enterprise Forum CEE program, please contact us at: firstname.lastname@example.org We will update the list Frequently Asked Questions on a regular basis!
MIT Enterprise Forum CEE is part of the global network of MIT Enterprise Forum, affiliated with the world’s best technology university – the Massachusetts Institute of Technology. The aim of the program is to support the development of the most innovative start-ups from Central and Eastern Europe by combining their potential with the knowledge and resources of leading enterprises and the experience of Polish and international mentors.
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.
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.
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.
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.
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.
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.
We invite technological startups from CEE countries that have innovative solutions, best verified by the market, but also companies in the early stages of development operating in the following areas.
Detailed information on the requirements that start-ups applying to the program must meet can be found in the rules and regulations
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.
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.
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.
Detailed information on the assessment of the application can be found in the program rules and regulations – §5. Substantive assessment of entries.
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.
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.
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.
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.
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.