Client

European Union

Industry

ICT; Start Ups; Cross Border Cooperation

Challenge

Setting up an intelligent Cross-Border Accelerator for ICT-enabled start-ups. Potential scientists and entrepreneurs involved in the accelerator process will go through a stage-gate process of training and mentoring, starting with general ICT-enabled business development trainings, continuing with dedicated webinars conducted by some of the area’s top experts

Duration

02.2019 - 08.2020

Achieved results

  • Sectoral study of ICT-enabled sectors in the cross-border area Activity 3.1
    The study examines the economic sectors with the greatest potential for ICT-enabled start-up creation in the cross-border area between Greece and North Macedonia. Four economic sectors were selected for having the greatest start-up potential for both the Greek and North-Macedonian sides and defined according to the NACE classification system: 1) Agrofood, 2) Retail and Wholesale, 3) Tourism, 4) ICT. The conclusions of the study recommend that the Intelligent Cross-Border Accelerator focuses on the training of aspiring entrepreneurs who will become active in these four sectors. The analysis of the cross-border area suggests that the foreseen structure and processes of the Accelerator can help overcome several of the challenges faced by the start-up scenes of both countries and help them reach their potential.
  • Training Needs Analysis of the target group Activity 3.2
    From the analysis and the surveys in the Greek and North Macedonian cross border areas it can be stated that both cross border areas have an important number of ICT graduates. In the Greek cross border area, 48% of the young people responders have Tertiary education, 21% Postgraduate studies. Similarly, in North Macedonian cross border 80% of them have tertiary or postgraduate education. Survey results show that youth people in the cross-border areas need entrepreneurship education and training. A big part of the youth people in the Greek cross border area, that responded to the questionnaire, stated that their digital readiness and maturity in order to develop a new innovative business activity is sufficient and they are ready to develop a new innovative business. However, some of them stated that they are not ready, and they need first training. In addition, in North Macedonian cross border area half of the responders believe that they have the digital readiness to set up a new innovative business. From the above results, it can be concluded that youth people in the cross-border area need entrepreneurship education and training.
  • Accelerator Development Blueprint Activity 3.3
    Startup accelerators support early-stage, growth-driven companies through education, mentorship, and financing. Startups enter accelerators for a fixed period of time, and as part of a cohort of companies. The accelerator experience is a process of intense, rapid, and immersive education aimed at accelerating the life cycle of young innovative companies, compressing years’ worth of learning-by-doing into just a few months. Startup accelerators are known as Seed accelerators, are fixed-term, cohort-based programs that include mentorship and educational components and culminate in a public pitch event or demo day. While traditional business incubators are often government-funded, generally take no equity, and rarely provide funding, accelerators can be either privately or publicly funded and cover a wide range of industries. Unlike business incubators, the application process for seed accelerators is open to anyone, but highly competitive. There are specific types of seed accelerators, such as corporate accelerators, which are often subsidiaries or programs of larger corporations that act like seed accelerators. The study suggests the main methodology procedure for delivery the iCBA startup accelerator in the Greece-North Macedonia cross-border area. The study highlights four distinct factors that make accelerators unique: They are fixed-term, Cohort-based, Mentorship-driven, and finaly, they culminate in a graduation or “demo day.

Strategy & approach

Objectives

The iCBA project’s main objective is to provide entrepreneurial training and mentoring so as to help people from the Cross Border area into creating their own start-up companies through expert laboratories and webinars, which can allow them to start their own businesses or find employment in existing businesses more easily.

Target Groups

The main target groups are aspiring entrepreneurs with priority to the sectors of tourism, agrofood and ICT, which are very promising in both countries and highly suitable for cross-border cooperation activities between enterprises.

Furthermore authorities, stakeholders and investors from the whole CB area will be involved. Entrepreneurs, stakeholders, investors and the general public in the whole CB area is similarly expected to benefit, as the new innovative start-ups can help just-start the area’s problematic economy.

Project Outputs

  • Promotion material including a web guide: “How to create a venture”
  • Promotion material including a web guide: “How to create a venture”
  • A sectoral study report of the ICT-enabled sectors in the Cross Border area in order to identify the most beneficial moves for new start-ups, a useful reference for CB policy development
  • A training needs analysis identifying the training needs and goals of the target population of young entrepreneurs in the area
  • A set of 11 trilingual specialised training courses covering issues from business concept development to attraction of investors including webinars recorded for future reference
  • A set of 11 trilingual specialised training courses covering issues from business concept development to attraction of investors including webinars recorded for future reference
  • A set of 11 trilingual specialised training courses covering issues from business concept development to attraction of investors including webinars recorded for future reference
  • 30 analytical investment plans created in collaboration between new business idea owners and mature start-ups or high-level experts.
  • 15-20 pitches to attract funding presented in a brokerage event with the participation of VCs and international inverstors.