Techcelerator, the SEED accelerator targeting advanced technology start-ups in Romania and South Eastern Europe, has received recognition from the prestigious business publication Financial Times in the Europe's Leading Start-Up Hubs 2024 report, a ranking of the top startup hubs that offer incubation and/or acceleration programs for people looking to start or grow a company.
Techcelerator is ranked 51st in Europe and third in Eastern Europe with 74,763 points.
InnovX from Romania is also in the top, ranking 11th overall and first regionally.
The top three in the overall ranking are UnternehmerTUM from Germany, Hexa from Belgium and SETsquared from the UK.
In total, 125 hubs are recognized in this ranking.
To create this top, the Financial Times collaborated with Statista R, a subsidiary of international data and research company Statista, as well as Sifted, a leading media brand for the European startup community.
Techcelerator is the accelerator founded in Romania in 2017 with the support of the European Investment Fund (EIF) in cooperation with the GapMinder VC investment fund and is aimed at startups in the acceleration and post-acceleration phase. Techcelerator cooperates with most funds in Europe and Central and Eastern Europe, regional business angel clubs such as Tech Angels Romania and crowdfunding platform Seedblink.
Since its launch, Techcelerator has successfully backed over 200 startups and its portfolio companies have benefited from a total funding of over €40 million through the investment rounds attracted so far, with a portfolio value of over €150 million.
The Accelerator focuses in its programs on supporting verticals such as Enterprise Automation, Fintech, Cybersecurity, Data/Analytics, Cleantech, eHealth, B2B SaaS, and on helping entrepreneurs to be ready to raise Seed and Late Seed funding (investment readiness) and for international expansion.
Techcelerator supports programs such as Advancing AI, NEXTFintech, Scale Match and Investment Readiness Booster. In terms of regional ecosystem development Techcelerator is a supporter of the regional internationalization (market readiness) platform StartupReaktor.com and is involved in various pan-European initiatives such as AccelerAction - European deep-tech and innovation ecosystem development, Co-investin - European venture capital ecosystem development and provides services for the European Innovation Council - EIC.
"Techcelerator has been growing continuously since 2017 and this is an international recognition of the competitiveness that can be delivered by the ecosystem in Romania and the region. In the few years we have had, we have managed to establish ourselves in the market and organise ourselves in the region, but the most exciting years are yet to come. Romania is increasingly validating itself as a regional hub in the SEE, which we support from the perspective of developing deeptech startups and attracting investment, and this is concretely seen by the number of companies in our portfolio", said Cristian Dascălu, Co-Founder and Managing Partner Techcelerator.
The ranking methodology involved a registration process and a survey.
“Several elements were considered for the evaluation, with the main criterion being the assessment of the respective start-up hub by alumni who participated in at least one incubator or accelerator program run by the respective hub. In addition, the recommendations of external experts, such as investors (business angels, representatives of venture capital firms), entrepreneurs and academics were included. On top of that, the most successful startups coming out of a hub were examined”, is explained on the Financial Times website about the methodology behind the ranking.
The information provided by KomuniK
Bucharest, November 14, 2024 – Exim Banca Romaneasca offers clients the possibility to verify the true identity of the beneficiary when initiating a payment in RON through internet or mobile banking. This is enabled by the bank’s adoption of the Beneficiary Name Display Service (SANB), which helps prevent fraud and reduces erroneous transactions caused by […]
Fifty NGOs and civic groups, along with the Bucharest Environmental Platform, have drawn up an open letter calling on Romania’s Ministry of Environment, Waters, and Forests to urgently approve the Management Plan for the Văcărești Natural Park in Bucharest. They say the plan has been pending approval for nearly a year. The non-profits noted that […]
AROBS Transilvania Software (BVB: AROBS), the largest technology company listed on the Bucharest Stock Exchange, reports consolidated turnover of 306.2 million lei as of September 30, 2024, with an EBITDA of 43.4 million lei and a net profit of 16.1 million lei. “If at the end of 2023 we anticipated potential stagnation in the automotive...
KingsRock Advisors, the global independent financial advisory firm, said it is expanding its European Union operations by opening an office in Stockholm and appointing top bankers to develop its EU business. Mihai Ionescu, former CEO of Deutche Bank Romania, will coordinate KingsRock’s Eastern European operations from Bucharest. With a long career in investment banking, Ionescu […]
In the first nine months of the year, MedLife recorded a consolidated pro-forma revenue of over RON 2 billion (EUR 400 mln), an increase of 24% compared to the same period in 2023. As these results confirm the upward trend from the first half of the year, MedLife is expected to become, probably, the first […]
A cultural project running between August to September 2024 saw volunteer postmen in the south of Romania discover and document over 400 old houses. The project, titled “Postmen and Houses in Codrii Vlăsiei," implemented by the National Company "Romanian Post" (CNPR), in partnership with the "Romanian Post" Foundation, and the Monumente Renăscute Association, covered more […]
