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Business accelerator in Cluj has 1 million Euro for tech start-ups

Business accelerator Spherik Cluj-Napoca launches a program worth 1 million Euro, meant to develop local start-ups with global impact.

2017-04-12 20:23:47

Spherik Accelerator offers an intensive four months program designed to fine-tune tech products and provide teams with know-how and resources to go to market and expand their business globally.
According to company data, the programs are meants to enable startups and help them grow by focusing on execution, product development and match-making the start-ups'teams team with key people & resources.

The Spherik approach maximizes the probability of a startup's success by providing the resources needed for the product, the market and the capital to harmoniously blend. We boost the companies' access to know how by providing product knowledge, growth hacks, mentorship and ambassadorship.
So far, the NGO gathered more than 800 hours of mentoring, 100 workshops, 80 % products and services launched on the market and 3 years of programs.

Spherik is the first accelerator in Romania with an ecosystem to support entrepreneurs in their journey. As an NGO, they facilitate access to investment, take zero per cent equity and 3.14 per cent of the investment done in 1st year after program. They protect startups from giving up equity too fast and help them go as far as possible. "Our mission since 2013 is to connect startups with strategic resources and support the ecosystem growth: Each year we attract 100+ applications and select 10 per cent to 20 percent for the acceleration program. During each program we guide 10 to 20 teams in overcoming the biggest challenges in the fastest and most efficient," the NGO official webpage states.

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