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Romanian venture capital fund GapMinder launches new selection round for startups

Romanian venture capital fund GapMinder, focusing on high-tech start-ups in Romania and Central and Eastern Europe, has launched the fourth round of its business acceleration program Techcelerator.

It aims to select ten projects for further development. Each selected start-up can receive EUR 50,000, in exchange for a stake in the company, followed by another EUR 25,000-50,000 funding convertible into shares, after evaluating the progress made during the program.

GapMinder will select companies targeting the Minimum Viable Product (MVP) phase or the beta testable phase.

The orientation toward the global market, the quality of the team, and the feasibility of the product will be key criteria in selecting the candidates, GapMinder officials explained, adding that the focus will fall on the projects in the fields such as FinTech, cyber security, MedTech, digital transformation solutions including blockchain applications, business process automation, artificial intelligence (AI), and machine learning (ML).