Poland Prize powered by Brinc
Program duration:July - January 2020
For whom:foreign startups
Industry:IoT, connected hardware
Financing amount:up to PLN 250,000
What should you know?
- Poland Prize is a program encouraging foreign startups to set up business in Poland
- The initiative combines the idea of acceleration and soft landing for startups – the goal is to prepare foreign startups to develop further in Poland
- Dedicated to teams of 2 to 4 people – at least 50% of the company shares must belong to founders/team members from abroad (outside Poland)
- The financial support is up to PLN 200,00 and up to PLN 50,000 PLN for the expert services
What will you gain?
Brinc is a brand well known in the startup environment, located in many countries around the world. The accelerator invests in startups dealing with new generation products in the IoT and connected hardware industries. The program lasts four months and is directed to companies that have a ready-made solution and are looking for comprehensive, global support in the next stages of their business development. Brinc also offers help in building a working prototype, prepared for mass production.
Participation in the program will give you:
- co-financing up to 200,000 PLN for project development and up to PLN 50,000 PLN for expert services;
- dedicated patron for each team who help you with the organization of work and meetings;
- soft-landing – support in registering company in Poland, training in Polish business law, accommodation, dedicated VISA track for non-EU citizens;
- the possibility of cooperation with technology partners and leading companies in Poland and in the world;
- business and technical consultancy at every level with the participation of experienced entrepreneurs and mentors from outside Poland;
- meetings and trainings in the field of business, marketing, sales or finance with numerous mentors and a team dedicated within Brinc Poland;
- networking opportunities with representatives of mentors, investors, industry, companies, business, academia and public administration;
- establishing a reliable supply chain or supplier networks and going through the DFM process to prepare a mass production product;
- the possibility to design prototypes in two centers in Poland – in Hardware Hub in Poznań and the Summer Agency laboratory in Krakow;
- a two-week stay in Hong Kong/Shenzen as part of the Enter China module to prepare the product for mass production;
- meetings with investors from Poland: Shape VC, SpeedUp Group VC, Arkley VC, Brinc VC, BLDG Venture (in the post-acceleration process);
- participation in: IoT Meetup, Hackathons, Demo Days.
What are the requirements?
If you want to participate in Poland Prize program, you need to meet the following requirements:
- your team consists of two up to four members;
- at least one of its founders comes from outside Poland;
- at least 50% of shares in the company belong to the founders or members of the team from outside Poland;
- you have proof of concept for your idea;
- your team is ready to respond to the technical challenges set by the partners (technology recipients) of the accelerator.
Both companies and academic teams can apply to the program.
What are the stages?
Applications to the program are held as part of two editions:
- 2nd edition: 25 November 2018 - 15 February 2019;
- 3rd edition: 1 June - 10 August 2019.
If you pass the initial verification, you will receive an invitation for a teleconference. Selected teams will conduct extended due diligence based on the following conditions:
- assessment of technical feasibility, including risk analysis at an early stage of the product;
- profitability assessment, including the assessment of the basic financial model of the research and development stage;
- assessment of market demand.
Based on the analysis of the received data, the final startups will be selected for the program.
The application process has ended
You will be directed to brinc.pl
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