European Innovations
and Start-ups Ecosystem

Milestones of the acceleration process

The process of acceleration conducted for Smart EcoSystem is divided into 10 stages:

Project’s application

Projects and enterprises are submitted into the acceleration program from the level of Internet platform. The recruitment process is made in a periodical manner: during the first stage of the project, it is open for applicants. Next, applying is closed until the launching of the next turn of acceleration process.

Applied project’s potential analysis

The applied projects undergo a two-stage analysis. The first stage is conducted by the project coordinator and includes initial market and financial research. Start-ups which successfully go through this stage are to undergo analyses on all the stages of enterprises, including technological analysis and business model of an enterprise, technological readiness and solution’s innovativeness. Territorial expansion strategy is planned for the start-up. A target market and defined competition for the presented solution are determined. 

Market identification for start-ups’ purposes

Upon conducting all the necessary business analyses, a target market analysis is elaborated and the niche, in which an entrepreneur may succeed is defined. What is more, a program under the EU Funds, which may help in further development of the project, is defined.

Eecution of agreements between the accelerator and start-ups

Upon elaborating all the necessary analyses, investment documents are prepared. The agreement between the accelerator and a start-up concerns granting support in terms of solution’s commercialisation and the amount of financing for a particular project. The elaboration of the agreement is done by the operational team – legal division. In justified cases, such as commercialisation of a product on a foreign market, the group of experts may advice creation of SPV. 

R&D and technological activity

An enterprise attends to the project’s implementation. Tasks to be executed for its successful finishing and the project’s milestones, the achievement of which would mean a significant progress in works, are defined. The entrepreneur is granted access to resources offered by partnership institutions of the accelerator. They consist of both natural resources, such as work surfaces, laboratories and experimental fields and mentor and specialist support alike. What is more, SMEs get access to a virtual platform possessing a data base and communication channels for remote contact with the accelerator’s mentors. 

Financing obtainment

If a project is not qualified to any of currently organised contests under the EU programmes, activities for finding financing from other sources are undertaken – from private investors or in self-governmental competitions. At this stage of project’s implementation, the accelerator’s partners support SMEs in terms of search for business partners and investors among national and foreign entities. 

Surveillance and monitoring of aims’ implementation

At this stage, the accelerator conducts direct surveillance over the assumptions and results of the project. Its tasks at this stage are: control over the assumed tasks, monitoring of milestones’ achievement and support for the entrepreneurs as soon as it is possible. The accelerator also helps with settlements related to the funds obtained under the EU grants. 

Commercialisation of the solution

The accelerator also participates in commercialisation of a ready-to-use product or service. On the basis of conducted market analyses, a development strategy considering needs and visions of the entrepreneur and interest of the project’s partners are matched. A decision on a product’s or service’s expansion on foreign markets may also be undertaken. 

Acceleration effects’ monitoring

Upon finishing the solution’s acceleration and commercialisation processes, the accelerator stays in touch with a start-up. The conducted upon the process’s finishing control research via surveys are to show which of the provided services were the most effective ones. Acquired information are used for constant improving of acceleration process’s quality. 

International expansion

The accelerator offers coherent services under the planned marketing campaign, organisation of trips to fairs and conferences for promotional purposes and analyses of foreign markets. The accelerator’s partnership organisations are to be responsible for acquisition of foreign partners and distributors.