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BCR-InnovX, new business accelerator: partnership with UiPath and great benefits for participants

BCR-InnovX accelerator is a technology business program that develops dedicated solutions for areas such as: cyber-security, fintech, artificial intelligence, automated learning, robotics, cloud, automation or microservices.

The program will select, in several stages, 25 current and future entrepreneurs divided into three categories - Grinders (turnover of EUR 0 - 100,000), Start-ups (turnover of EUR 100,000 - EUR 1 million). euro) and Scaleups (1 million euros - 2.6 million euros). Accelerator has a curriculum tailored to companies with international scalability potential and a global network of partners and mentors with experience in such a program.

Banca Comerciala Romana initiates the first cohort of the BCR-InnovX Accelerator, a project developed in partnership with UiPath, Startup Grind in partnership with Google for Startups, Mindspace and European Center for Services Investments and Financing (ECSIF)

The first cohort will be dedicated to start-ups that develop innovative solutions and products through technology, and enrollments will take place between February 21 and March 23. BCR will cover the costs for all the scholarships allocated to the entrepreneurs in this project, the logistics courses and costs, without requiring equity in the companies selected in the program.

BCR-InnovX Accelerator is a three-step business mentoring and business acceleration program:

Start-ups - 10 micro-enterprises will be selected in 2018 with a turnover of between 100,000 and 1 million euros and / or having attracted a financing of between 100,000 and 1 million euros in the last year.

Grinders - 10 students and / or young entrepreneurs will be selected at the beginning of the road. Those wishing to sign up must have a micro enterprise, a social enterprise, or an association / foundation on the territory of Romania (a legal person or an authorized natural person) in any technological sector. Turnover over the past year must be less than 100,000 euros.

Scale-ups - 5 developed companies (SMEs) will be selected, with a turnover of between EUR 1 million and EUR 2.6 million in 2018. The turnover may be cumulated with that of other companies with which it forms a group in the sense of SME legislation.

The InnovX program provides selected companies with a business acceleration experience using formal and non-formal education methods, MIT-experienced international mentors in the field of innovation and entrepreneurship and European Commission experts in the field of risk financing of innovative technology projects . The core entrepreneurial curriculum will be completed, based on the specifics of each selected company, through lectures offered through the platform founded by MIT and Harvard universities. This curriculum with international valences combines with the workshops and financial education modules that BCR will run through the School of Money - Business Class.

All companies in the program will learn, through ECSIF expertise, to directly access Brussels grants for innovation worth 50,000 euros for Start-ups and up to 2,5 million for Scale-ups. Also, the program companies will be able to support their presentations at the Startup Grind conferences in Silicon Valley, London, Barcelona or Tel Aviv.

It is important to note that BCR will not take any equity from the start-ups mentored within the accelerator.

"Courage and expertise. There are two things that this program aims to transfer to Romanian entrepreneurs and future unicorns. How do we want to do this? Through a solid educational program, a global network of experts in business acceleration and with free access to valuable resources for the development of innovative technologies. The Romanian capital must accumulate, produce value and stimulate the intellectual and entrepreneurial potential of Romania. It is a potential in which we have great confidence," says Sergiu Manea, CEO of Banca Comercială Română.

"Developing a start-up means having the courage to create and try to solve a problem or a need of the world felt right on your skin. We started this process to demolish the gloomy and dominant mentality of the last years, characterized by: "we Romanians can not," "we do not know how", "we do not have funds", "we are too small" or "goes so." Through InnovX's support we want to show that "it is possible" and that it is possible, as well as to facilitate this journey through our experience," says Alexandru Mihailciuc, Global Head of Pre-Sales at UiPath.

"No apologies, no preconceived ideas; today we are what we choose to be. The paradox of the global market today is that the only real competition of a Romanian entrepreneur is himself. That is why, through InnovX, we focus on the experience of those who have demonstrated that they can by introducing it into the DNA of the new generation of entrepreneurs who dream of conquering the world," says Daniel Dumitrescu, Startup Manager Grind Bucharest.

More details about the BCR-Innox accelerator and about the enrollment process:

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