MIT Enterprise Forum CEE is an acceleration program that supports the most innovative science and technology startups from Poland and Central and Eastern Europe by combining their potential with the knowhow and resources of large enterprises from sectors ranging from financial and insurance, through energy, life science and FMCG, to media and technology for tourism, as well as with the experience of seasoned mentors. MIT EF CEE wants to make use of the potential of the program’s alumni in the current situation related to the coronavirus epidemic.

The initiative by MIT Enterprise Forum CEE and our business partners ‘Technologies versus COVID-19’ is aimed at selecting startup companies that have ready-to-market solutions to support the medical sector and the healthcare system as well as its transformation in the digital era. As a result of the coronavirus epidemic, medicine must make a technological leap. We’ve been on the frontline of tech breakthroughs for many years now. It’s always been driven by the minds of visionary startup founders and entrepreneurs. They have so much talent and potential, and the ability to achieve greatness. They push the boundaries, showing us that, against all odds, success in global terms is within reach. In the current epidemiological situation, remote medical care systems are an essential tool. Luckily, there is already a number of technologies that we can put into use today that can help treatmemt, testing, monitoring or any other aspects of the coronavirus outbreak.
assesses Magdalena Jabłońska, Chairwoman of the Foundation for Technology Entrepreneurship, operator of the MIT EF CEE program.

The main partners of the ‘Technologies versus COVID-19’ project are: Adamed – a Polish pharmaceutical and biotechnology tycoon, Coca-Cola in Poland – a leading force on the market of non-alcoholic beverages, as well as MCX – the core of a strong group of specialized companies that are providers of comprehensive ICT, software, and renewable energy solutions. Supporting partners are CVC Capital Partners, HubHub, MDI Energia, Nationale-Nederlanden, Sabre, Sollers Consulting, PZU and TVN Discovery Polska.

Online medicine

Remote medical consultations via chat, video chat or telephone, round-the-clock, 365 days a year, can be done via the Telemedi.co platform. It allows you to book an online consultation and choose a doctor, field of specialty, and language, and after talking to a specialist, access to medical records with recommendations, referrals, and prescriptions. The telemedicine platform handles tens of thousands of consultations monthly. The profiles of doctors and the appointment process are supported by an AI module, which conducts a preliminary interview with the patient and provides doctors with recommendations based on the symptoms introduced by individual patients. The solution of wide-scale remote consultations, including the technology developed by Telemedi.co, is used by the medical operator PZU Zdrowie, creators of the Virtual Clinic portal (Wirtualna Przychodnia). It is a place where the patient can undergo a full medical process without leaving home. It is unnecessary to own a medical package to make use of it. Teleconsultations also take place outside office hours, i.e. in the evening, at night, and on weekends and holidays.

In the current situation, solutions in the field of remote medical care are commonly used by PZU Zdrowie patients and they do help limit the spread of the virus.
claims Andrzej Zawada, Innovation Manager at PZU Zdrowie.

Patient and doctor safety

However, in many a case, a chat or even video chat with a doctor is not enough. This is the story behind creation of StethoMe whose solution enables remote auscultatory examination with a stethoscope and patient care, especially those suffering from respiratory conditions. Basing on medical AI-powered algorithms that coupled with an electronic stethoscope and a mobile application, their system detects pulmonary abnormalities. An integral part of the system is the AI module that ensures a professional auscultatory examination at home and then shares the result on a telemedical platform along with a detailed analysis indicating the anomalies. It is thanks to this combination that it is possible to accelerate the necessary medical appointments, including lung diagnostics in quarantined persons, but also monitoring of chronic diseases such as asthma or COPD, in the event of acute lower respiratory infections, such as pneumonia or viral infections.

Switching to remote diagnostics of people who experienced early worrying symptoms related to their respiratory system would significantly improve not only the safety of those in quarantine, but also the effectiveness of dedicated health care units. StethoMe also facilitates lung examination in people infected with the coronavirus. “We receive signals from the medical community that lung auscultation has become a problem. Medical personnel are forced to puncture or remove their protective coveralls. Only this way can they conduct a proper examination, which in turn carries a serious risk of infection,
comments Wojciech Radomski, CEO of StethoMe.

Over the past several weeks, the startup has developed a dedicated solution to empower medical professionals clad in protective suits to auscultate patients wirelessly, thereby ensuring their ability to safely perform this key examination. This ‘quick fix’ is currently being tested in an infectious diseases hospital in Poznań. Several other European hospitals have also shown interest in their system.

Instant COVID-19 testing device

Genomtec – a Wroclaw-based startup which operates in US and Europe, developed a smartphone-sized genetic analyzer for infection detection in the doctor’s office in less than 15 minutes, thanks to patent-pending optical, contactless heating technology. Their technology combines optical heating and detection with microfluidics and reagents stable at room temperature. Genomtec technology offers fast, inexpensive and reliable molecular diagnostic testing. The device works independently and automatically, it is enough to apply a drop of biological material to the reaction card and then place it in the analyzer. The test results can then get directly sent to an email address or fed into the medical records of the patient. Thanks to its ease of use and its automated diagnostic approach, Genomtec is able to effectively fight complications that result from viral infections, such as COVID-19.

Genomtec is currently developing Point-of-Care testing (POCT) platform intended for a rapid diagnosis of pathogens (microbial and viral) and mutations. The heart of our technology is created by a propriety contactless heating and nucleic acids detection technology, empowered by isothermal RNA/DNA amplification (LAMP). The current outbreak of COVID-19 (caused by SARS-CoV-2 virus) imposed unprecedented pressure on the world healthcare system, mainly due to diagnostic backlog resulting from utilization of qPCR-based assays (apart from the antibody-based that are not suitable for early diagnosis). Obviously, we are not ready with our platform yet – Genomtec ID, however, after careful analysis of the assay-time of currently available products on the market, the conclusion was simple: the problem at least partially occurs due to qPCR equipment capacity or its generic underutilization. How Genomtec can help here is by developing a rapid diagnostic test recognising both strains of SARS-CoV-2 virus in less than 20 minutes that can be used with major qPCR instrument brands. With time saved on the assay run, and reasonable price tag, we believe it could improve diagnostic flow, concomitantly increasing number of samples tested and simplifying the test itself (due to LAMP technique used). The COVID-19 test will be later included on our Atypical Respiratory Tract Infections panel for use on microfluidic card at Genomtec ID platform, true POCT.
says Bolesław Charles Winiarski, COO of Genomtec.

Rehabilitation via the Internet

Addressing the problems associated with the rehabilitation of chronic diseases of body and mind – the need for patients with wavering motivation to exercise regularly – and the high costs of professional care is Neuroforma. They support patients recovering from a stroke or traumatic brain injury in particular, as well as people suffering from neurological diseases, such as multiple sclerosis or Alzheimer’s disease.  Their solution can also be used as an incentive to additionally activate the elderly to perform kinetic-cognitive exercises. Neuroforma capacitates patients to perform interactive exercises at home under remote supervision of a specialist. Therapists with help of the TeleNeuroforma web-platform simply prescribe dedicated exercise sessions for their patients who without leaving home, only using a computer and webcam, perform attractive, motivating, and beneficial exercises.

These three startups have already had positive experiences in cooperation with Nationale-Nederlanden, a company whose experts have been supporting the MIT Enterprise Forum CEE for many years.

We implemented pilot projects in the field of healthcare with Telemedi.co and StethoMe. We are currently mentoring Neuroforma, a startup specializing in rehabilitation. We believe that thanks to their mature solutions in the field of remote medicine, we will be able to aid society in general and the medical sector in particular in the present-day needs in the area of health,
asserts Urszula Gołaszewska-Kroenke representing Nationale-Nederlanden.

Bot instead of a helpline

Relieving the helpline of the NFZ (the Polish National Health Fund) which has been experiencing an overload in recent days, was the inspiration that guided Chatbotize, a start-up which, in cooperation with the Prime Minister’s Office, created a chatbot that provides timely, fact-checked, and official information about the coronavirus epidemic and the countermeasures undertaken by the government. The system learns on a real-time basis, and its knowledge base is updated basing on official data provided by the Ministry of Health.

This way, Messenger and Facebook users can find out, among others, where to get help or what legal provisions regulate closing the national borders. The chatbot makes use of AI, thanks to which it understands users’ questions and replies to them automatically. The company had previously developed solutions for customer services-related purposes that are employed by such market players as Aviva, InPost, Maspex, PKO BP and many more. They are also implementing a pilot project with Nationale-Nederlanded. Now, the very same technology that allows tracking packages via Facebook is here to safegaurd easy access to current information about the epidemic.

It is not just medicine and healthcare today that are in need of a profound and fundamental change. Companies for which the months to come will be trying for their business models must find a place for themselves in the new reality as well. The Foundation for Technology Entrepreneurship and its partners are still analyzing the solutions of other startups in the scope of their application in converting medicine into an online format, along with battling the coronavirus and its impact on business, economy and citizens.

The world is changing as we speak. Some of these changes are only temporary in nature, other are here for good. We have to make the best of the resources we have at our disposal and I believe that startups have the key to a brighter, and safer, future for all of us. We should consider this pandemic a test of our resilience to crises and the ‘Technologies versus COVID-19’ initiative is our first response. Very soon, we’re planning to organize a webinar for companies active on the CEE market that would like to get involved with startup companies from our accelerator alumni network. What I can promise is our experts’ effective consulting and technology matching. Our partners and public agencies have already announced their willingness to do their level best to boost our region’s tech capabilities to fight the good fight. And there is a lot more good news to be shared, but you will have to tune in to our webinar.
summarizes Magdalena Jabłońska.

A positive, very welcome side effect? With the demand for their products and services growing, startups will have it much easier to implement their solutions on a larger scale. Which naturally translates into even more beneficial disruption, so essential and vital for our world to go forward.

Want to know more? Follow us on social media where in the coming weeks, we will elaborate on our startups’ technologies and how they can contribute to the global war on the coronavirus.

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It is said that tech startups are the born-global firms. That seems to be a fair statement as most of the technology developed by tech entrepreneurs has a worldwide potential. The services and solutions developed by the startup founders are designed to work on a global scale. With just a few adjustments, of course.

In order to reach that globality, tech startup founders want to derive significant competitive advantage from the use of resources and the sale of outputs in multiple countries. However, there is no one-size-fits-all solution for their internationalization models. Yet, there are some common denominators. A strong business network is one of the most important parts of that equitation.

Founders, if you wish to scale up your #tech business and become a successful entrepreneur, apply to the 4th edition of MIT Enterprise Forum CEE Startup Accelerator. You have time until July 5th by midnight. Click here

Relationship capital

Networking is one of the most critical behavioral learning strategies used by startups due to the scarcity of internal resources in a business to cope with triggers and develop solutions.
I’ve been working with tech innovation for more than 15 years now. When talking to the startup founders, I often hear that it is the relationship capital provided by MIT Enterprise Forum that is what the entrepreneurs value a lot. At the MIT Enterprise Forum CEE, we have built a robust communications platform connecting young high-tech companies with large enterprises in support of our growing entrepreneurial ecosystem.
The access to the elite MIT ecosystem, our network of corporate and institutional partners, market experts and a truly impressive range of other startup companies relevant with their business operations has positively impacted their further business growth.

Our program combines the resources of leading global and regional enterprises with the capabilities of Polish and international mentors and trainers to foster the growth of a strong entrepreneurial ecosystem supporting an expanding pipeline of CEE startups. We help startups improve their business networking skills and connect them with the decision makers on the business side who are willing to test-drive their solutions as well as real-life mentors and market experts.

MIT Enterprise Forum network

We are a member of the global MIT Enterprise Forum network, joining 10 US chapters and several international chapters, including those in Greece, Israel, Lebanon, Mexico, Saudi Arabia, and Spain. Our headquarters are located Warsaw which serves Poland and fourteen other CEE countries including Lithuania, Latvia, Estonia, Bulgaria, Romania, Croatia, Serbia and Ukraine to name just a few. We encourage innovators from all of the CEE region to get in touch with our team. Together we can achieve more.

Networking

There is a number of initiatives that we, as the MIT Enterprise Forum CEE team, take to ensure the most fruitful outcome for our program alumni. In a nutshell, we organize one-on-one sessions with mentors and experts from Poland and abroad. Their goal is to help founders with fine-tuning their “go to market strategy” by connecting them with relevant business partners and their network. We host networking events where they can create more informal relations with our partners, investors, and various market experts. And the top startups in the accelerator are invited to participate in our annual Boston Bootcamp, featuring an intense agenda of activities in one of the leading US ecosystems for entrepreneurs. While in Boston, we make sure the networking on the US soil really happens. Not to mention the pitching session in front of American investors, which is a gem.

The journey continues even after the program ends

To support accelerated graduates in commercializing technology on the European or Asian market, MITEF CEE also establishes bilateral partnerships with platforms such as FinTech Connector, or corporations on foreign markets. Advantech is a fine example of such cooperation happening in Taiwan. It focuses on providing IoT solutions to various sectors, particularly for logistics and hospitals, also rail transportation and energy sector. By working with Advantech, startups get the chance to gain access to its international clients and take part in sales and marketing events which are known for setting a high market standard.

Startups that cooperate with MIT EF CEE can also gain technological support, as the organization works closely with the Dassault System, a company delivering comprehensive engineering and management software to which founders get free access.

To benefit from the potential created for CEE region startups, we also initiate joint activities with community partners such as Innovox – an accelerator from Romania which opens doors for MIT EF CEE alumni to potential business partners in Romania https://innovoxaudio.com/. Last but not least, our latest undertaking will be a pilot of events called “Berlin Warsaw Station” which goal is to foster business relations between both ecosystems, providing German and Polish entrepreneurs the platform to learn from each other and initiate cross-border, innovative projects.

Supportive network with entrepreneurial spirit

Mutual help is the foundation of our organization as several entrepreneurs with MIT background decided informally to help each other with their business plans. Such was the beginning of what was called by its attendants as “MIT Enterprise Forum”. The very same idea determines the actions of the accelerator and activities undertaken by MIT EF CEE alumni club. So far, we have supported over 330 founders, who now constitute an excellent network of top talents with entrepreneurial spirit. We strongly encourage our alumni to establish relationships between startups from various editions and different locations.

Founders, if you wish to scale up your business and become a successful entrepreneur, apply to the 4th edition of MIT Enterprise Forum CEE Startup Accelerator. You have time until July 5th by midnight. Click here

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Wish to apply and get the most of the MIT Enterprise Forum CEE Startup Accelerator? You can still apply for the 4th Edition. We are waiting for your application by 5^th July. Click to enroll

The MIT Enterprise Forum CEE accelerator serves as a door opener to the US, and in particular the East Coast. Each year, the accelerator delivers two editions of CEE-based, equity-free startup acceleration program. The 2-month long acceleration culminates in an annual week-long Bootcamp in Boston, Massachusetts USA for the top ten finalists combined from that year’s two editions. And it is this Boston Bootcamp, that is the gem of the MIT EF CEE program, that best startups of each edition get invited to. The Boston Bootcamp is a seven-day within a framework designed to support startups continued business growth. It’s is a wild ride, with a lot of fun, great food, awesome networking… and a lot of work. In English, of course. What’s in it for startup founders? The aim of the bootcamp is to prepare the CEE-based entrepreneurs for building their businesses in the US. They come back home with a much clearer understanding of how the US market works and what is required to build a business in that market. Some startups say that one week in Boston was more important than 3 months of the MIT EF acceleration program. And please note that MIT EF acceleration is considered to be the best in CEE. How is this all accomplished? It’s accomplished by hard, yet very rewarding work done during the week condensed with meetings and business-oriented seminars. Just to name a few, it is the time founders:

• get connected with relevant mentors and experts who give them perspective on the competitive landscape, can help organize relevant meetings, and make additional introductions;
• get feedback on their US “go to market strategy”, by experienced US entrepreneurs;
• pitch to several investors’ audiences, including angels and VCs. The biggest event takes place during the CEE Night in the Cambridge Venture Café. Each startup is additionally trained by Linda Plano, with written and oral pitch directed to the US audience;
• gain information on the US tactics in terms of legal form, visa, and regulatory aspects.

Every entrepreneur who gets into the MIT Enterprise Forum CEE acceleration program becomes a part of an elite Boston entrepreneurial ecosystem, which is a worldwide known hotbed for entrepreneurial activity, with its alumni forming literally hundreds of new companies every year. Founders get access to more experienced entrepreneurs from the US and our region. In the past, during the Boston Bootcamp, we had had the pleasure to host Stefan Batory from Booksy, Michal Borkowski from Brainly, Bartosz Skwarczek from G2A, Mary Waszkiewicz from Randolph, Borya and Vadim from PDF Filer (a unicorn), Filip Twarowski from Point API, Mike Krymov from Sleepbox. If one considers international expansion, Boston bootcamp opens many doors. The US market is extremely liquid when it comes to raising capital. To be a relevant player, one cannot just think about launching business in the US but know when and how to do it. Here at MIT EF CEE we know the answers to both of these questions. Gain most of the Boston Bootcamp and reach your goals. Make your American dream come true.  

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The PZU Group is the largest financial institution in Central and Eastern Europe. We serve over 22 million customers in five countries (Poland, Lithuania, Latvia, Estonia, Ukraine). We operate in the areas of insurance, banking, investments and healthcare. Altogether, we manage nearly PLN 300 billion in assets.

Areas for seeking innovation

Currently, we are looking for startups in three strategic areas – the use of Big Data, digitization and new interactions with clients.

In the area of advanced analytics, we are interested in using solutions supporting the implementation of advanced pricing methods, cross-selling initiatives or increasing the level of customer engagement and loyalty. It is important for us to use the potential of data science, which leads to better business management and risk prediction. In the area of digitization, we are interested in a wide range of new technologies that enable automation, simplification and acceleration of processes in all areas of activity – e.g. sales, claims or customer service. In particularly, we focus on technologies using  artificial intelligence, which are implemented on large-scale processes, both within the organization and at the points of contact with clients. In the last area – new interactions – we are looking for solutions supporting PZU in increasing the frequency and quality of contact with our clients. We want to implement services that respond to the changing needs of customers (both individual and enterprises), as well as reach them in new ways and channels that are the most suitable.

Under the 2020 program, the highest priorities for PZU include:

• automation of the area of claims and provisions as well as customer service
• digitization in the area of product distribution, including sales support by agents and redirecting traffic from online channels to traditional channels
• new interactions with clients – concepts that can increase the number of interactions with PZU clients, including the self-service portal www.mojepzu.pl
• cyber security services for individuals
• services added in the context of selected customer segments, e.g. pregnant women and parents
• the use of machine learning in investment processes
• the use of new technologies in the area of marketing – increasing the conversion of marketing activities, customer engagement, collecting feedback from customers in real time
• implementation of modern tools and automation in the area of tariff actuarial

Mutual benefits

We assume that PZU’s cooperation with startups should bring mutual benefits in the form of well-executed pilot projects and full implementations. The startups we are looking for must feature technology-based solutions that create exceptional value for PZU and our customers. We are looking for competent teams focused on solving well-defined problems, which are also important from the perspective of PZU. Not just descriptions of solutions, but the ability to quickly test them in a real environment and on real data  is essential to us. As the largest financial institution in Central and Eastern Europe, most of all, we offer the possibility of implementing large-scale solutions. We focus on pilot projects and hence guarantee that, if both parties agree on the business legitimacy of the joint project, implementation will be our priority. In addition, as part of the acceleration process, we offer the support of our mentors – members of the management team and managers of individual areas, appropriate for a given startup.

Welcome

All startups with unique solutions that fit into PZU’s search areas are welcome to apply to the MIT Enterprise Forum CEE accelerator as part of the next, spring edition of the program!

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A few words on Adamed

Adamed is a privately held Polish pharmaceutical and biotechnology company, with over 30 years of experience, based on the scientific thought and a portfolio of patents. Currently, it manufactures about 500 products offered to the patients in 70 countries around the world. Through subsidiaries, Adamed operates in Spain, Russia, Ukraine, Czech Republic, Slovakia, Vietnam, Italy, Kazakhstan and Uzbekistan.

In 2001, Adamed pioneered drug discovery efforts among the Polish private pharmaceutical companies. For over 19 years, the company has been carrying out innovative R&D projects. It has established several scientific and industrial consortia with the leading universities and scientific institutes in the homeland and abroad. The company’s intellectual property is protected by almost 200 patents all over the world.

Our ambition is to discover novel effective, safe therapies for patients all over the world and to foster knowledge-based innovation.

What do we seek in a startup world?

Our technological interests extend beyond medicinal products and related technologies. Yet those still play an important part. We are open to drug discovery and repurposing efforts (exploring a novel indication for a known therapeutic moiety). We find interesting technologies that are meant to improve a current process of discovering and developing medicinal products. We also seek innovation and value for the patients in the new, original dosage forms and drug delivery technologies. Especially those that render products more convenient and improve patients’ adherence. Adamed would also gladly explore devices and applications targeting a problem of adherence or providing other clinical benefits on top of the pharmacological interventions.

Outside the pharma space, we consider therapeutic and diagnostic medical devices, with a software-as-a-medical device included. We look with an interest at an emerging technology of the so-called digital therapeutics. On the diagnostics side, we focus on the Point of Care or Point of Treatment solutions and the tools for monitoring health-related parameters, preferably in outpatients. Monitoring of potential side-effects of drugs and postoperative complications also fall inside our scope.

We believe that e-health is to become an important part of healthcare in the coming years and that is why we are open to the telemedicine solutions, especially when founded upon viable business models. In our view, medical simulation is similarly a very interesting field with a growing market and a continuous need for training of medical practitioners to keep up with the technology advancement.

Challenge accepted

Adamed always welcome disruptors who do not precisely fit into a wish list but develop unique technologies for a broadly defined healthcare sector with a likely product-market fit. As regards the characteristics we value the most among startups, we seek entrepreneurs that target a very precisely defined problem that originates from a truly existing unmet medical need or an inefficiency of the healthcare system. An MVP is not a must for us as we speak of deep-tech, capital intensive projects. On the other hand, we insist on a product or service scalability and ability to be offered in a sustainable way. Most importantly, we cherish the well-versed and balanced teams.

We suppose that, as a startup, you enjoy taking on challenges. Then, we are curious if you can:

• come up with a concept of a novel indication for a known substance that would be patentable,
• target a new population of patients with your innovative dosage form,
• suggest a novel treatment for the Alzheimer’s Disease that will not rely on a beta-amyloid hypothesis,
• propose a technology that would be a perfect match for one of our products and deliver a tangible value to the patients,
• deliver a technology improving patients’ adherence being convenient and effective at the same time,
• develop an off-patent medicinal product with a value added that would not require a pivotal trial to be granted marketing authorization.

Adamed’s offer to MITEF CEE participants

Our offering to startups features an access to Adamed’s laboratories, experts and mentors in various fields related to life science industry, both on the scientific and commercial side. Moreover, we are able to arrange the consults with the key opinion leaders in the therapeutic areas relevant to startups’ projects. We also offer access to market data and our network of reliable and proven service providers and suppliers. We assist in devising business models and go-to-market strategies for startup. And last but not least, we may become an investor in your startup. Ready to take up the challenge? Because we are!

Apply to the spring edition of MIT Enterprise Forum CEE acceleration program ➡️ http://bit.ly/MITstartups

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1. Before you apply, make sure that our program is for you!

As the proverb goes, do not buy a pig in a poke. Before you apply, check whether the MIT Enterprise Forum CCE program is for you. You will find the most important information about the acceleration on our website. Read the Q&A section carefully, you will find answers to the frequently asked questions there  (READ_HERE). Check whether your solution fits the technological areas of our startup support (READ_HERE), and read the rules and regulations concerning the conditions to be met in order to participate in the program (READ_HERE) Might seem a lot, but you need to make sure that the MIT Enterprise Forum CEE program is just what your startup needs.

2. Apply! Perhaps you will prove to be our first unicorn!

If you have already broken through the tangle of information related to the program and realized that there is nothing to lose and a lot to win… (APPLY HERE). It’s worth taking the time to answer all the questions in meticulous and comprehensive manner, and to prepare a short, engaging video about your startup. The recruitment platform itself is simple and intuitive tool, but in case you experience any problems, you can use the Application Manual (READ_HERE). Remember that you can send your application by July 7, 23:59:59 CEST.

3. Keep your fingers crossed and wait for contact!

Already applied? Now, keep your fingers crossed and be patient!  Several hundred startups apply to each edition of our program and we need time to analyze their applications in reliable and meticulous manner. Several dozen international judges are involved in the whole application evaluation process, which makes it a bit time-consuming. At this stage, we choose startups whose applications have engaged us the most. If you are in this group, we will contact you and invite you to an individual meeting or videochat, during which we will be able to get to know each other and talk about your technology, expectations or plans. Soon afterwards, we will inform you whether your startup has qualified for the program.

4. Hurray! You made it! You are starting the acceleration with the MIT Enterprise Forum CEE!

We must warn you though, our program is not a game or Sunday school. We make a lot of effort and the same or even more will be expected from you. You will undergo six weekend workshop sessions, including 24 steps of disciplined entrepreneurship led by Prof. Bill Aulet from MIT, meetings with lawyers, patent attorneys and sales coaches, or the Pitch Academy, led by Linda Plano, an international expert specializing in sales presentations. Remember that your commitment and hard work could help you elevate your business to a much higher level.

5. Cooperation with mentors and program partners

We will involve at least two mentors with extensive knowledge and business experience to cooperate with you. They will provide your startup with substantive support on its way to achieving market success. What’s more, the cooperation with program partners (large enterprises) is aimed at providing pilot implementation and verification of the effectiveness of your solution in real market conditions. It will be a great opportunity to verify your own business assumptions, as well as a chance to establish commercial cooperation with the leaders of particular industries not only in  Poland, but also on international markets All in all, we will help you win the reference clients.

6. Show yourself during DemoDay … and fly to Boston

The culmination of each edition of the program is DemoDay, during which startups present their technologies to investors and representatives of large enterprises and public institutions. At the event, we announce five startups that will take part in the weekly Bootcamp in Boston. This not only allows startups to learn about the innovation ecosystem cantered around the Massachusetts Institute of Technology, but also the opportunity to establish important business relationships with local entrepreneurs and present their technology to investors from the USA. For many of them, this is the first major step to develop their business on the US market.

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What can you lose? Nothing, since participation in the project is completely free. What can you gain? Read on and find out what benefits are associated with participating in the MIT Enterprise Forum CEE acceleration program!

1. SUPPORT OF LEADING POLISH AND INTERNATIONAL ENTERPRISES

Do you strive for acquiring a strategic client that will not only be solvent, but will also give your fledgling company references that open the door to other strategic clients? Not only you! That is why so many founders of startups dream of establishing cooperation with large enterprises – leaders of various industries and market sectors! Is this a mutual dream? Not always! This can be confirmed by many startups who have bounced off the corporate gates! We have gone this path for you. We have managed to reach leading Polish and international companies and not only encouraged them to open to commercial cooperation with young businesses, but also convinced them that startups are worth taking care of. That is why our Partners, depending on your needs, will open their laboratories and factories, provide you with unique know-how and broadly understood infrastructure, and offer substantive support from their best experts. They are also very likely to become your first strategic clients.

2. FIVE WEEKEND WORKSHOP SESSIONS

Your first association with the idea of a workshop that of boredom and a waste of time? It’s time to change the approach! Just relax, we will help you do this! Welcome to the workshops implemented within the MIT Enterprise Forum CEE program! First of all, we offer you a comprehensive program of 24 steps of disciplined entrepreneurship developed by Prof. Bill Aulet from the Massachusetts Institute of Technology. This way, you can gain qualifications that will help you achieve market success. Working on the next steps will not only significantly increase your chances for a successful debut, but also help you indicate the skills needed for your entire team – especially in the key, fledging stage. In addition, we offer participation in workshops carried out by the best Polish trainers, during which you will deepen your knowledge of law, patent protection, marketing, teambuilding and sales. The curriculum has been structured to address practical issues related to the development of startups. Our Boston expert, Dr. Linda Plano, will teach you how to master the presentation of your technology to potential customers, business partners and investors.

3. SUPPORT OF MINIMUM TWO BUSINESS MENTORS

Before they achieve market success, startups face many challenges at an early stage of development, even those with unique technologies.  The problems are often connected with lack of knowledge, experience and financial background. The role of the accelerator is to support startups in overcoming these barriers and help turning a great idea into a real business. We assume that each startup is different and an individual approach to each team is necessary for the acceleration to bring the expected results in the form of further dynamic development. That is why over one hundred mentors are involved in the MIT Enterprise Forum CEE acceleration program. Why so many? To choose from those who know the specificity of the industry you operate in. Our mentors, based on their extensive knowledge and many years of experience, will advise you on the areas you could develop, indicate how you should position your product and recommend the pricing strategy to implement so that you can start earning real money. Thanks to their knowledge and experience, you will not make basic mistakes.

4. SUBSIDIES FOR THE DEVELOPMENT OF THE BUSINESS

Lack of money is one of the main problems of startups, especially at the beginning of operations, when there are a lot of needs. Therefore, thanks to the grants awarded by the Polish Agency for Enterprise Development under Measure 2.5 SGOP Acceleration Programs, the MIT Enterprise Forum CEE program provides participants with financial support for the development of activities up to 50,000 Euro. To make things clear – this is not money that could be spent on any purpose. We give them so that you can, for example, adapt your technology to the needs of a large enterprise in which the piloting of your solution will be carried out. What for? Among other things, to give you the opportunity to establish commercial cooperation with such an enterprise and gain the first strategic client. Additionally, if you qualify for the program, you will be able to benefit from funding for individual advisory services in the field of law, patent protection, HR, team building, sales etc. up to 10,000 Euro. You will be given the opportunity to choose the advice you need most.

5. GLOBAL NETWORKING AND THE OPPORTUNITY TO PRESENT SOLUTIONS IN THE USA

In Poland, it is said that one cannot succeed without connections. And this is somewhat true, of course in the positive sense. You never know how the relationships you make today could benefit tomorrow, in a week or next year. We believe that one of the factors determining the effective development of startups is extensive and diversified networking. During acceleration, you will have the opportunity to meet a number of people from the environment of the MIT Enterprise Forum CEE, including representatives of partner companies, startups from previous program editions, potential business partners and investors or experts. You will have a chance to talk to them about the development of your business. In addition, the five best startups will take part in the weekly Bootcamp in Boston, where they will have the opportunity to present their solutions to investors from the USA and establish business relations that may result in the future development of their businesses on that market.

Worth it? Of course! Do not hesitate and apply to the autumn edition of the MIT Enterprise Forum CEE program today. We are waiting for your application by June 30. The application form, program regulations and information on information meetings can be found at www.mitefcee.org

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1. How does the current start-up ecosystem in Poland function and what is the potential for its further development?

The start-up ecosystem consists not only of start-ups, but also financing entities (e.g. business angels, investment funds, development agencies, innovation-oriented corporations, etc.), entrepreneurial academies, business environment institutions, research and development entities, universities, technical universities or all spaces, events and conferences giving an opportunity to network as well as integrate the start-up environment. Experts say that a properly functioning “ecosystem” of start-ups is a condition for the development of innovation.

According to the Deloitte report entitled “Diagnosis of the start-up ecosystem in Poland”, on the basis of the adopted definitions of a start-up and its ecosystem, five key areas have been distinguished to ensure the sustainable development of these thriving entities. These include: financing, legal regulations, human capital, social capital and the institutional environment. When it comes to legal regulations and the institutional environment in Poland, they work really well. Human capital is moderately developed, however, recent observations and feedback from the market seem to indicate that its level of development is getting higher and it is starting to strongly attract both foreign start-ups and foreign investors.

In recent years, we have noticed a very dynamic development of the Polish start-up ecosystem. What is particularly noteworthy is the fact that Poland is currently the largest pool of public funds available to finance start-ups, high-technology companies and high-risk companies compared to all of Europe, e.g. PFR Ventures – the fund of funds. 

The largest fund of funds in Central and Eastern Europe (FoF) offers repayable funding through selected financial intermediaries, e.g. venture capital funds or business angels. Established as part of the Start In Poland program, the company has an investment budget of nearly PLN 3 billion. Its activities are focused on supporting innovative companies and enterprises at various stages of development: from the earliest phase, through the seed stage, first implementations and the growth and expansion phases..

2. What can Poland offer to young companies from abroad?

This question is perfectly answered by the opinions heard during the last WolvesSummit conference in Warsaw on 19-20 March. In order to reach the largest number of key ecosystem entities (including representatives of corporations and investors), the participation of start-ups in WolvesSummit is free of charge. The conference, which is getting more and more popular every year, attracts lots of talented participants. The ninth edition of WolvesSummit has attracted: 450 Start-ups, 100 Scale-ups, 300 Investors, 450 Corporate Representatives, 2,500 Participants, 4,500 1:1 Meetings.

Both from appointed and accidental talks with representatives of start-ups and investors from abroad, it appears that Poland has become a very strong magnet not only for beginners, but also for more experienced entrepreneurs from other, often more economically developed markets. The most frequently mentioned reason for this positive phenomenon is human capital. Among Polish employees, it is not difficult to find not only highly qualified specialists and experts who know foreign languages, but above all, it is internal motivation, commitment, certain mindset and willingness to work that counts. Generalizing, it seems that Polish generations of millenials are not characterized by such negative qualities often referred to as a problem in the West. In addition, foreign guests indicate and confirm that the start-ups market in Poland is experiencing dynamic growth at the moment, while in many Western European markets (e.g. The Netherlands, Belgium) “there is stagnation and little is happening, even the most junior employees are very demanding, demotivated and little involved. ” The argument of low (relative to Western Europe) expectations – or perhaps more accurately: the prevailing standards as to the level of financial remuneration of employees in Poland – was not directly pointed out, but it certainly has a considerable significance.

3. What are the benefits of registering a company in Poland?

At the WolvesSummit conference, there were many foreigners representing start-ups participating in the POLAND PRIZE program (Polish offer for foreign start-ups intending to move or open their business in Poland), who, with no exceptions, praised both the quality and range of services received and the entrepreneurial climate in Poland (the most frequently mentioned cities were Warsaw and Poznań).

Many other foreigners who attended the conference (e.g. experienced entrepreneurs, representatives of start-ups, investors) were moving or have already moved their operations to Poland, praising our country for a great start-up boom and huge resources of young talented people who are “eager to work.”

In a nutshell: the greatest benefit for entrepreneurs from across the eastern border is the opportunity to start operating in the EU and access to many EU markets simultaneously; for entrepreneurs from other, more economically advanced markets, Poland is still an attractive market with many little-developed and prospective niches.

The post Are you from the CEE region and have a technology start-up?Check why it is worth developing a business in Poland and how we can help you do it! appeared first on StartSmart CEE.

You’ve created an innovative technology, set up a start-up and … it’s not exactly going as you planned it. Customers have not come to know your product yet, the money in your account is not multiplying at an avalanche rate, and investors are not queuing up in front of your office. Welcome to the reality of a startupper! Remember that the companies at an early stage of development – even those in possession of very innovative technologies – face many challenges. Lack of knowledge, experience or financial background are among the most common issues. Our role as the MIT Enterprise Forum CEE is to accelerate the development of technological start-ups from the CEE region and help you turn great ideas into successful businesses. To this end, we have gathered a team of world-class experts and we have involved leading Polish and international companies. Together, we will help you move your start-up to a whole new level.

2. You are going to verify your business assumptions

You have got a great product …. and you do not know what to do next? Or you might have already taken a certain path and are convinced that you should follow it. Let our experts look critically at your solution and business assumptions. You are going to have a team of outstanding specialists who have achieved spectacular successes in various industries and market sectors at your disposal. Our mentors, based on broad knowledge and extensive experience will give you advice on which directions to develop, how to position your product and which pricing strategy to implement so that you can start earning real money. Because of their knowledge and experience, you will not make simple mistakes. We know that each start-up is different, therefore, we offer tailored help and provide support of experts who know the specificity of a given industry. Trust us and you will go further than you could have dreamed of.

3. You are going to establish business relationships with market leaders

While establishing your start-up, were you convinced that the largest players on the market would queue up to cooperate with you? Did you try to initiate meetings with corporate decision-makers yourself, believing that your super technology was the answer to their problems? If so, you were not the only one. Many young technological companies dream of commercial cooperation with large enterprises. However, the glass can be half full or half empty. While it seems to you that your solution can improve the functioning of large enterprises, their decision-makers do not have to be convinced about it. We have done the work for you, convincing decision-makers in leading Polish and international companies that it is worth establishing cooperation with innovative technological start-ups. Thanks to that, you will have the chance to win reference clients, and cooperation with them will open the way to even greater opportunities.

4. You are going to meet fantastic people

Business relations are priceless. People you meet today can make essential decision about your business tomorrow. At the MIT Enterprise Forum CEE, we believe that building long-term business relationships is the key to the development of start-ups. That is why we put an emphasis on organizing networking events. During acceleration, you will have the opportunity to meet a number of people from the MIT Enterprise Forum CEE environment, including representatives of partner companies, start-ups from previous editions of the program, potential business partners, investors and experts who will tell you how to develop your business. Being a part of an international organization, we have a global network of business contacts in many places around the world, which can turn out to be a great opportunity for the development of your start-up.

5. You are going to fly to Boston

Do you dream about developing your business on the US market? Participation in the MIT Enterprise Forum CEE program might be the first step to make your dreams come true. As part of each acceleration edition, five best start-ups are given the chance to participate in the weekly bootcamp in Boston. During the trip, start-ups have not only the opportunity to learn about the innovation ecosystem focused around the Massachusetts Institute of Technology, but also the opportunity to establish important business relationships with local entrepreneurs and present their technologies to investors from the USA. For many of them, this is the first serious step to business development on the American market.

DO NOT HESITATE, APPLY TO THE MIT ENTERPRISE FORUM CEE PROGRAM TODAY. WE ARE WAITING FOR YOUR APPLICATION UNTIL MARCH 10 ONLY.  LINK

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What exactly is MIT Enterprise Forum CEE? 

We are an acceleration program, a part of the global MIT Enterprise Forum organization, affiliated with one of the world’s best universities – the Massachusetts Institute of Technology in Boston. Our main goal is to support technological start-ups from Central and Eastern Europe in accelerating their development. It is mainly about young companies that create innovative solutions for various industries, yet, despite the high utility and uniqueness of developed technologies, they are experiencing problems with being successful on the market. Contrary to what one might expect, it is very common in the start-up environment. It should be remembered that technological companies at the early stage of development, as well as those that already have a finished product and the first sales results, face many challenges, often ones that are difficult to address on their own. First of all, it is the lack of knowledge, experience, financial background or reaching customers, that makes it difficult to earn real money. The role of the accelerator is to support start-ups in overcoming these barriers and help in turning a great idea into a real, thriving business.

How do you do it? How does acceleration in the MIT Enterprise Forum CEE program work?

It is a complex, comprehensive process that aims at preparing technological start-ups in the best possible way to achieve market success. We start with organizing business assumptions. During workshops based on the methodology of 24 steps of disciplined entrepreneurship developed by Prof. Bill Aulet, we focus, among others, on pricing and sales policy, market segmentation, creating an end-user profile, etc. This systematic process is to lead to the rapid commercialization of technologies developed by start-ups. We also want to refine the business models of start-ups – so that they allow further, effective development and earning money. We assign each start-up to, among others, two dedicated mentors – experts who have achieved spectacular successes in international business. Mentors, having in-depth knowledge of a given industry, could guide start-ups, give direction for further development and provide clues to what markets to choose and how to position the product to achieve measurable results. We also develop the competences of start-ups in the area of legal issues, patent protection, sales, raising funds for further business development and effective presentation of solutions to investors or potential business partners. Then, they are comprehensively prepared for dynamic development.

Start-ups that qualify for the program also receive support from large enterprises …

We assume that the necessary element for the development of a technological start-up is to verify the potential of its solution in a market environment, preferably by the leaders of a given industry or sector. We are proud that leading Polish and international enterprises are involved in MIT Enterprise Forum acceleration – they facilitate their infrastructure, share their knowledge and experience and delegate the best experts to cooperation with start-ups. Pilot schemes that are implemented with the participation of our Partners allow start-ups to better understand the market realities, formal constraints that are associated with the implementation of technology data or the needs of large enterprises. What is important, the effects of cooperation often include commercial implementations, thanks to which start-ups not only obtain funds for further business development, but also references that help them win more clients – not only in Poland, but also abroad.

Where exactly? 

First of all, we think of the broadly understood European market. Start-ups that qualify for the program have a unique opportunity to establish cooperation with leading enterprises, which are recognizable throughout the continent. References obtained from them facilitate further expansion in Europe. It should be emphasized, however, that MIT Enterprise Forum CEE, due to its links with the Boston ecosystem, is also focused on the development of start-ups on the US market. In each edition of the program, we choose five teams that take part in the weekly Bootcamp in Boston, where they have the opportunity to establish important business relations with local entrepreneurs, and to present their technologies to investors from the USA. For many of them, this is the first major step to develop their business on the US market.

What start-ups have the chance to qualify for the MIT Enterprise Forum CEE program?

To apply for the program, we invite start-ups from all Central and Eastern Europe, which not only develop innovative and unique technologies, but are also market success oriented. This is a very important criterion. We want to help teams that are ambitious, determined and not afraid of challenges. We believe that such start-ups, with our support, have a chance to achieve real international successes.

I invite you to submit applications by March 3 at (LINK)

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