What is Ventures Thrive?
Ventures Thrive is a new pan-European venture builder for deeptech and climate founders from Central and Eastern Europe (CEE) and widening countries. The programme, backed by the European Innovation Council (EIC), is specifically looking to address funding shortages and growth difficulties among deeptech startups in the aforementioned areas.
Ventures Thrive was launched on 1st November 2022 by a consortium consisting of Acceler8 Venture Builder (Malta), Wolves Summit (Poland), and Anthology Ventures (Bulgaria).
The programme is expected to invest a cumulative €1.5 million in the 32 accepted startups over the course of two years, with the chosen startups being eligible for up to €100,000 in cash and services, equity-free.
The first call is open 17th January 2023 - 16th March 2023, apply!
When is Ventures Thrive taking place?
Two editions of the Ventures Thrive programme will be taking place, both of which will run for around 8 months. 12 startups will be selected for the first edition and an additional 20 for the second. The first edition kicks off in January 2023 and concludes in October 2023, whilst the second edition will start in December 2023 and conclude in September/October 2024. The four-phase programme structure does not differ between the two editions.
Phase 1: Apply
Applications for the first edition of Ventures Thrive are open 17th January 2023 and close 16th March. Towards the end of March, the ‘Evaluation Days’ will take place, wherein startups will be assessed on readiness and fit with the programme. Here, 12 teams will be selected to move forward.
In the second edition, which will be evaluated during February/March 2024, we will select 20 teams in total.
Phase 2: Build
The first edition of the programme will start in April 2023, with the 12 selected startups working with Ventures Thrive coaches to produce a Master Plan around their needs regarding sales and business development, product development, and fundraising from private and public sources. Each team will commit to a set of realistic KPIs to pursue during the Ventures Thrive programme. In May, the pitch contest will take place, wherein teams will pitch to industry leaders and corporate partners. All companies reaching this stage qualify to receive a Venture Ticket of €5,000 equity-free, to cover travel and accommodation costs to attend the Selection Days. Six startups will be selected to continue to the next phase.
In the second edition (March-April 2024), 10 startups will be selected to the next phase.
Phase 3: Grow
The Growth Programme will take place between June and October 2023. Throughout this period, the six selected startups will attend workshops and masterclasses and receive mentoring and coaching around specific topics related to investment readiness. Startups that are working on specific Corporate Challenges will also work directly with the corporates.
The growth programme for the second edition will take place between May and September 2024.
Phase 4: Raise
The first programme will conclude in October 2023 with a Demo Day – a day to celebrate startups’ achievements during the programme in front of hundreds of investors, corporates, mentors, and press attendees. Prizes will be awarded to the top three startups.
The demo day for the second edition will be announced later. Tentatively, it is expected to take place in October 2024.
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What’s in it for you?
- Access to a global network of mentors, corporate partners, industry experts, and investors from over 20 countries
- Eligibility to receive up to €100,000 equity-free funding (cash and services), subject to reaching programme milestones
- Connections to leading corporates in your industry for pilot projects, partnership opportunities, and as customers
- Meet the most active VCs and Angel Investors in your industry from around the world
- Legal, finance, go-to-market, and R&D grant masterclasses to help mature your technology stack with non-dilutive funding
- A once-in-a-lifetime opportunity to join a specialised deeptech accelerator and venture builder, providing hands-on support and valuable instructions to scale your business
- Achievements will be celebrated in front of over 1,000 investors, corporates, mentors, fellow entrepreneurs, and press attendees
- Partner with leading companies to increase your product launch and sales capabilities. Build your network of investors and explore public funding opportunities
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Who can apply for Ventures Thrive?
Startups participating in the first edition of Ventures Thrive must be somewhat related to at least one of the following themes, opportunities, and challenges:
- Smart City
- Energy
- Marine
- Agriculture & Waste
- Mobility
- Sustainable Finance
Startups participating in the second edition of Ventures Thrive must be somewhat related to at least one of the following themes, opportunities, and challenges (subject to change):
- Health
- Food
- Third Age
- Sustainable Tourism
- Culture
Furthermore, participating startups must also be involved with the deeptech landscape (BigData, AI, Blockchain, IoT, and / or Bio-Tech), offer a product / service and technology that has passed the Minimum Viable Product (MVP) stage (TRL 6, technology demonstrated in a relevant environment), and be based in CEE or in a widening country.
In accordance with the European Commission’s definition of the term, the full list of widening countries is as follows: Bulgaria, Croatia, Cyprus, Czechia, Estonia, Greece, Hungary, Latvia, Lithuania, Malta, Poland, Portugal, Romania, Slovakia, Slovenia, Albania, Armenia, Bosnia and Herzegovina, Faroe Islands, North Macedonia, Georgia, Moldova, Montenegro, Serbia, Tunisia, Turkey, Ukraine, Guadeloupe, French Guiana, Martinique, Réunion, Saint-Barthélemy, Saint-Martin, the Azores, Madeira, and the Canary Islands.
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How can I apply?
Interested parties can fill in the application form available on https://venturesthrive.eu. You will be informed of your application’s outcome in April 2023. Programme applications are open until 16th March 2023. The call dates for the second cohort will be announced later.
Should you have any questions or encounter any issues during the application process, feel free to get in touch with the Ventures Thrive team on contact@venturesthrive.eu.
