Launched in May, the EstLat-Accelerate project aims to carry out three pre-acceleration programs with an ICT focus to support entrepreneurship in Estonia and Latvia. The project is coordinated by BIA and funded by the Interreg Estonia-Latvia program.
Program: Interreg Estonia-Latvia
Project: EstLat-Accelerate (Pre-accelerator program for boosting Estonian-Latvian startups)
Duration: 1 May 2017 – 28 February 2019
Total ERDF funding: 454,920 €The main aim of EstLat-Accelerate is to prepare and carry out three pre-acceleration programs that are jointly organized in Tartu and Riga. Each round of pre-acceleration takes about four months and has a specific ICT focus that varies from program to program. Participants apply for the program on an individual basis, but will form (cross-border) teams with complementary skills during the first phase of the program, followed by developing their initial idea concepts into technically and commercially feasible business ideas and graduating from the program. As such, the project’s objectives are to attract ambitious (first-time) entrepreneurs to the program and to support them in team-building and idea validation so to prepare high-quality startup teams who are ready for pre-seed financing.
The EstLat-Accelerate project will be realized by three Estonian and two Latvian partners:
· Baltic Innovation Agency – project management, overall coordination, monitoring and analysis
· TechHub Riga – coordinating the pre-acceleration programs and communication
· University of Tartu – carrying out the mentoring programs in Estonia
· Garage48 – organizing ideation workshops and hackathons in Estonia and Latvia
· Latvian Startup Association –
carrying out the mentoring programs in Latvia