If you answer ‘yes’ to any of these questions - please don't apply! Everyone else - regardless of your gender, origin, religion, etc. - we want to hear from you!!!
We accept teams that are creating exciting and fresh solutions in the following areas:
Solutions for Industry (B2B):
Smart Living (B2C):
We offer more than the 'average' accelerators. Usually, accelerated teams find it hard to get a follow-on funding to keep working on the product. Therefore we're bridging that gap in the market and have what we like to call a 'full-stack accelerator' - a Pre-Seed fund & Accelerator Program (4 months) and additional Seed fund with a follow-on support program (2+ years).
In the Pre-Seed stage we're ready to invest up to EUR 50'000 as a convertible loan with discount and valuation cap. There can be exceptions where we invest straight into equity.
Since each team might be in a different development stage, we'll set the milestones and KPIs individually at the beginning of each Program stage. Evaluations whether the investment is being spent wisely and there is a visible development of the product according to the KPIs will also be made case-by-case to make the decisions of follow-on funding.
As it is not 100% clear whether there are going to be any restrictions related to Covid 19, we run a hybrid type of program. Definitely, we see much added value in seeing people face to face.
Based on previous experience, these topics are the most important and help startups become investable at the next stage.
In addition, we cover topic related to ESG factors as they become more and more important on successful business.
If incubators' business is to keep participants alive, then accelerators’ business is to help strong ones to become even more stronger.
Do not expect Buildit will tell you what should be done and which direction to go. It is your choice and your decision. Buildit can give you advice of what to expect and how to walk the path you have chosen.
Yes, that is fine. We'll help you with the registration and legal settlements.
The Follow-on program (or “Build-On” stage, as we call it) is an ongoing tailored mentoring program for the best of the crop. For the brightest of the shiny. For the crème de la crème of the Accelerator graduates. You will have an appointed advisor to follow the progress, attract the necessary mentors & experts and make the intros.
Yes, if you are selected for the “Build-On” stage, Buildit will invest up to EUR 250'000 and either lead the round or serve as a guaranty for other investors who are interested in investing in your company.
The equity we're taking depends on the valuation before the Seed Round and other potential investors joining the round.
A: To maximise the chance of getting selected, the teams should have:
Our Acceleration program is pretty hard-core (pun intended) and the chances of survival are much higher if you have a team to share the tasks with. We'll accept your 'one-man team' if you show that you can take the startup to the next level on your own but are willing to find co-founders in the process.
The Pre-seed Accelerator program is most useful for Early-stage & Pre-seed companies. Regardless, even teams that have worked together for several years and already have traction on market can benefit as the program can be tweaked to fit the needs of the founders.
Yes, we do. Recently many startups decide to go through more than just one accelerator since different accelerators work with startups in different phases. As long as you feel that our programme is what you need - go for it!
Yes. Global startups from all around the world are welcome to apply. Mind that we expect you to incorporate in Latvia during the acceleration program.