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Poland Prize - opportunity for foreign startups

Wyślij Print Pobierz added: Magdalena Zwolińska | 2021-05-11 15:32:26
poland prize, startups, parp, poland

Poland Prize is an initiative aiming at foreign startups targeting Poland, implemented by the Polish Agency for Enterprise Development (PARP). 33 accelerators took part in the competition, presenting their original concepts of searching for and bringing foreign teams to Poland.

The aim of this stage of the project was to select operators of acceleration programs with international experience. A total of 33 applications were submitted for the amount of over PLN 326 million. The nine selected accelerators will support foreign startups in providing the best solutions and the most effective cooperation with the domestic business.

PARP will finance the costs of the program management and financial grants for startups from the EU funds.

The task of the program operators will be to find the most interesting foreign young companies with appropriate growth potential and bring them to Poland. The accelerator will ensure the proper start of a young company in Poland, and then enable the establishment of business relationships, resulting in the implementation of a startup product or obtaining investor capital.

Poland Prize acceleration will start with the scouting stage, i.e. activities aimed at acquiring startups from outside Poland with appropriate growth potential. Selected accelerators will reach the most promising foreign markets around the world, and will aim at attracting startups with the most interesting solutions.

After registering the company in Poland, selected teams can benefit from a grant of up to PLN 50 000. These funds should enable a young company to start business in our country: they will cover the first 3 months of operation on the Polish market, provide support for the startup supervisor, team development, establishing relationships and promotion.

Startups which establish cooperation with a business partner during this period will be able to receive a grant of up to PLN 250 000. These funds should cover the acceleration process, i.e. the startup's intensive work on improving its product, testing the solution in close cooperation with the recipient of the technology or business development responding to the requirements of potential investors.

Accelerators will also provide startups with support in the post-acceleration phase, trying to maximize the results of a given acceleration, e.g. by continuing or extending selected development activities. In this way, foreign teams should permanently link their activities with the Polish startup ecosystem.

The launch of acceleration programs by selected accelerators is planned for May 2021.

Stay tuned for presentations of all chosen accelerators and their offer for foreign startups.

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