CIVITTA will accelerate greentech startups

Innovative companies from Central Europe are lagging behind their counterparts from similarly big countries in accessing funding and expansion to foreign markets. Many of these companies set off on their journey in business accelerators operated by a consulting company CIVITTA and its partners. CIVITTA accelerator action programs have witnessed beginnings of dozens of startups, including a recently awarded company Sensoneo. CIVITTA is now launching a new accelerator program Challenger. Challenger should help startups to kick-off their businesses and get investments for green technologies with the potential to mitigate the impacts of the climate crisis.

Startups can apply to the program until September 28, at www.challengeraccelerator.com.

The program is launched under the patronage of the president Zuzana Čaputová.

The accelerator can help right from the start

“Accelerator programs help startups with smoother market entry, customers and partners onboarding and after all, with attracting investors for further development,” explains Eva Šimeková, CEO of CIVITTA, a company helping innovation CEE startups to kick-off their businesses.

Sensoneo also completed one of the CIVITTA programs in the past. “CIVITTA helped us to clarify crucial things. Although we had a functional product, validated by first customers, we were still at the beginning. We had to find the right business model, pricing strategy, to build up our team. These are the areas that are useful to be discussed with someone with perspective and experience,” recalls Martin Basila, founder, and CEO of Sensoneo.

Startups that participated in the CIVITTA accelerators have been already granted 700 mil € in investments.

Accelerator programs are able to keep up with the pace of innovation companies.“Decisions in these companies have to be made much faster than in the case of companies with organic growth. It is almost always certain that there are other innovative players operating in the field, who want to attract the same customers as you and you have to be the one chosen,” adds Sensoneo CEO.

Challenger looks for the best “green technology“ startups

CIVITTA is launching a new accelerator program Challenger, open for startups dedicated to green innovation and technologies, which can curb climate change or mitigate its impacts.

“Challenger is intended for innovative companies with the potential to grow rapidly even beyond the Slovak borders and which contribute to the sustainability of cities while dealing with green technologies,” says Michal Laco from CIVITTA.

Important information

  • Applications are open until September 28, 2020.
  • Chosen companies will enter a 5-month-long process of mentoring, prototype and business development, which will culminate in their final pitch in front of potential investors.
  • They will be lead by more than 60 mentors and successful entrepreneurs.
  • Startups in Challenger will compete to win 60 000 € for their further project development.
  • The winning company will get an opportunity to negotiate an investment of at least 250 000 € with CB Investment Management, the main investment partner of the program. Last year Slovak companies gained investments from CBIM and Startup Wise Guys of more than 1.5 million €.
  • Program participation is for free and no equity is taken by CIVITTA.
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