Unfold.vc will fulfill the American dream of Polish startups. Acceleration program for companies planning to conquer the US is launched
The Wroclaw-based Unfold.vc fund and New York-based WEVE Acceleration are inviting startups from Poland and the CEE region (Czech Republic, Slovakia, Romania, Bulgaria, Ukraine, Hungary) wanting to develop and commercialize solutions in the US or already building a business there and looking for funding to join the program. The preferred profile of candidates is early-stage companies offering SaaS services in a B2B model from various industries, including edtech, fintech, healthtech, foodtech, traveltech, propertech, insurtech, fashiontech, retail or media. These companies should have min. MVP, first traction, and awareness of their market. A prerequisite, moreover, is annual revenues of min. 100 thousand – 3 million USD. The ten-week acceleration will include 1:1 mentoring sessions, expert thematic workshops, panel discussions, as well as meetings with investors and startups that have already achieved international success. Among others, France’s Nfinite, which creates 3D product visualization solutions for e-commerce, went through the WEVE acceleration. It was thanks to participation in the program, among other things, that the startup raised more than $120 million in funding.
“The choice of WEVE as an accelerator partner is no coincidence. Recall that before the name change it was part of the internationally renowned Nooma gas pedal network from France. WEVE is a network of several hundred qualified industry experts and mentors. The result of our cooperation is an international opportunity for, among others, Polish technology companies with real potential for expansion in a country offering ambitious founders tremendous growth opportunities. Let’s remember, however, that often a technology that is successful on the European market will not immediately find its place overseas. These companies hit barriers due to unfamiliarity with the culture or business and investment practices, which lowers their chances in the US market. We want to support them in effective expansion.”
– says Magda Surowiec, managing partner at Unfold.vc.
The selected maximum of two startups will be able to count on a capital injection, as the program assumes that Unfold.vc will invest up to $220,000 in each startup. This pool will cover the acceleration costs, which may amount to about $25k. The goal of the VC fund is to bring together the best companies from the region, and with the help of an extensive network of international experts, prepare them to develop their business and attract investment in the US. The program will involve the people behind such giants as Amazon, Slack, JP Morgan, IBM and Nokia.
The American startup dream in practice
Funded by a Wroclaw VC fund, the program is designed to provide founders with strategic support in expanding into the US market in such areas as product development and personalization, raising funds in the US, sales, building an international team, legal issues or operations. Acceleration will include consultations with international experts, experienced entrepreneurs and investors. Each startup will be led by a leading mentor matched with expertise and experience. The hybrid model of the ten-week acceleration involves three stages: Set Up, Build, Execute. The first two parts will include eight weeks of virtual workshops focused on the conditions of doing business in the US. Company leaders will work on refining strategies for global expansion and adaptation in the new market. The final two weeks will be spent in New York. The event will culminate with Demo Day, a presentation of the company in front of potential investors, customers and business leaders from the States.
“We observe that with the right support, international startups are able to move their business to the U.S. and scale it more effectively from there, compared to entities focusing solely on European markets. New York’s startup ecosystem is valued at $71 billion, making the region a leader in terms of quality and availability of funding. It is a springboard for the success of young, promising companies. We offer support to help them establish a local presence as well, making the necessary connections.”
– emphasizes Frances Simovitz, CEO at WEVE Acceleration.
Applications for the program are being accepted until September 23. Acceleration is scheduled to start in October, following a three-stage recruitment process that assesses companies’ readiness to enter the US market. It will include remote interviews with organizers and industry experts. Detailed information about the program at the link.
About Unfold.vc
A WSE-listed venture capital fund focused on financially supporting technology projects with high growth potential. It invests without a specific time horizon and at various stages of development: pre-seed and seed, as well as at a later stage, buying back shares or stocks. The fund’s portfolio includes projects in the medtech, biotech, martech, foodtech or gaming companies. It backs Brand24, Infermedica, Poley.me, PixelRace, Exit Plan Games, Giblib, Neurocare group or Wally Health from the US, among others.
About WEVE Acceleration
New York-based WEVE Acceleration has been in business since 2017, identifying and supporting early-stage and growth-stage startups in overseas expansion. More than two hundred companies from thirty countries have passed through the program, winning new contracts and funding in the aftermath. The New York-based gas pedal has built a network of six hundred industry experts, mentors and entrepreneurs. It has several hundred investors in its network, looking for new opportunities to locate
