Techcelerator, the most active accelerator in Romania, and Google for Startups launched the third edition of Advancing AI, an acceleration program dedicated to startups from South East Europe (SEE) that develop products using artificial intelligence/machine learning technologies.

The program's initial phase runs for three months, and applications are open here from October 26 to December 10, 2022. 12-15 companies will be selected based on two criteria: a solid team with complementary skills, consisting of at least two co-founders; and a globally scalable product/solution based on one of the following technologies: AI, ML (Machine Learning), Deep Learning, Big Data, Cloud, DevOps, Robotic Process Automation - RPA, Blockchain, Advanced Analytics.

Advancing AI#3 includes two trackers: the MVP Acceleration dedicated to early-stage startups, and the Investment Readiness dedicated to companies that already have traction and want to prepare for pre-seed/seed funding rounds.

All the companies included in the Advancing AI program will receive benefits worth over EUR 200,000 from Techcelerator partners, such as free Google Cloud access, Stripe credits, HubSpot accounts for startups, FreshWorks & Notion software products, and others.

The top-performing teams could receive up to EUR 500,000 from GapMinder and the 70+ European VC investors in the Techcelerator community.

Startups will have continuous access to learning, testing and scaling resources and expert mentors in the tech, product & business development fields. They will benefit from a customized product development program & individualized consultancy from experts based on the stage of product validation and the targeted go-to-market geographies & industries.

"Artificial Intelligence drives the new digital economy. The net positive impact of AI on the GDP of major economies is to exceed 13.5% by 2030, according to PwC. For five years, Techcelerator has been supporting Romanian startups to develop their know-how and the ability to grow internationally. Starting in 2021, we have expanded our area of ​​interest to cover the entire SEE region," said Cristian Dascălu, Managing PartnerTechcelerator.

"Together with our partners GapMinder, TechAngels and Google for Startups, we are very involved in supporting local AI activities. Our objective is to strengthen and continuously develop the ecosystem of AI startups so that they can develop innovative solutions and products and always be better prepared to attract valuable investments. That's why we have widened the addressability of this Advancing AI edition, which now targets both early-stage startups as well as more advanced companies."

In turn, Dan Mihăescu, Founding Partner Gapminder, said: "GapMinder supports companies in the avangard of technology and the companies that develop solutions based on Artificial Intelligence are our primary targets. Starting this edition of Advancing AI, we are even more ambitious, and we are positive to invest EUR 1.5-2 million in the next rounds, going up to EUR 10 million as follow-on rounds."

irina.marica@romania-insider.com

(Photo source: the organizers)