InnovX accelerator program powered by Romania’s second-largest financial group The Romanian Commercial Bank (BCR) has announced the incubator program named BCR-InnovX for the startup of the Transylvania region. The startup acceleration program will be held in Cluj-Napoca.
The startup accelerator program will be organized in collaboration with the Russian software firm, Arobs Transilvania Software. The accelerator program consists of 3 stages, whereas 20 spots have been kept for the startups of the Transylvania region. The best startup that participated in the BCR-InnovX incubation programs will be selected for the acceleration program, which will later take place in Bucharest.
The BCR-InnovX is a three-step mentoring and business accelerator program, in Startup Cohort, 10 tech startups are selected whose turnover is between 100,000 to 999,000 EUR or the entire funding range is between 100,000 to 999,000 EUR in the previous year. The Grinder Cohort, 10 students or young entrepreneurs will be selected whose turnover would be less than 99,000 EUR.
In Scaleups Cohort, 5 developed companies of any technical sector will be chosen whose turnover is in between 1 million to 5 million EUR. The necessary condition for registering in the startup program is that the startup, social entrepreneur, or any scale-up company should be of Romania region. In March 2019, 10 startups were selected for the BCR-InnovX accelerator program.
The registration for Spring 2020 is open for the startups whose turnover is between 100,000 to 999,000 EUR, and only for the entrepreneurs of the Transylvania region. The last date of registration is March 6 for the first incubation group. BCR-InnovX incubation program covers investment, leadership and branding workshops, a mentoring program, and a business plan writing course. The accelerator program targets companies that provide technical services such as fintech, cyber-security, artificial intelligence, robotics, automated learning, cloud, or micro-services.