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Saturday, 08 August 2020

EBRD launches €100,000 regional start-ups initiative addressing COVID-19 repercussions

Start-ups across the regions where the EBRD invests will benefit from a new partnership between the Bank and Startup Wise Guys, a leading start-up accelerator with a presence across the Baltic states

Doaa A.Moneim , Sunday 7 Jun 2020
EBRD
European Bank for Reconstruction and Development (EBRD) (Photo: Reuters)
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The European Bank for Reconstruction and Development (EBRD) has launched a regional starry-ups initiative to address the COVID-19 crisis.

Start-ups across the regions where the EBRD invests will benefit from a new partnership between the Bank and Startup Wise Guys, a leading start-up accelerator with a presence across the Baltic states, according to EBRD statement.

Companies from the EBRD regions active in Fintech can apply on a dedicated website for a bespoke accelerator programme, which combines the latest Fintech with the Bank’s goals to foster the development of competitive and sustainable economies,according to the statement.

This programme is aimed at the broad spectrum of Fintech, including any Fintech solution that can support the post Covid-19 recovery, according to the statement.

Successful candidates will not only participate in a five-month intensive training programme, but also attract investment of up to €100,000, based on their maturity level, from Startup Wise Guys, which could provide the key to their breakthrough, according to the statement.

The start-up programme is a full-time one that will take place in Vilnius, the capital of Lithuania, starting in October and co-financed by TaiwanBusiness – EBRD Technical Cooperation Fund and combining on-site and online, according to the statement.

Successful applicants will be placed in a so-called “EBRD Cohort”, focused on developing solutions in accordance with the Bank’s goals.
Startup Wise Guys is one of the leading early-stage accelerators, having launched 19 accelerator programmes since 2012, supported by founders from 45 countries and over 200 international mentors, as EBRD clarified.

It has been named among Europe’s top 10 accelerator programmes and as the Top VC fund in central and eastern Europe (CEE) in 2019, according to the statement.

For Startup Wise Guys, this will be the fourth accelerator programme with a Fintech focus and its first time in a partnership with the EBRD, according to EBRD data.

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