Accelerace - Loan Model for Start-Up Companies
Topic of the practice
Support to SMEs
Good Practice Information
1 year pilot programme in collaboration with Accelerace Management A/S Denmark (the scheme founders). 4 other partner countries; LT, SE, FI and DK have, subject to respective government approval, joined forces/raised funds for a pilot launch targeting the life science sector starting in January 2014. Each partner country will focus on a specific sub sector, drawing support/expertise for the start
up from the partner network. The basic idea is that new businesses started by ‘serial entrepreneurs’ who having learnt from past experience, refined their business model over time and as a result are more likely to succeed. With resources and programme funds scarce, targeting and supporting these start-ups is considered a better return on investment (ROI) and long term economic benefit for all.
Evidence of success
A tested/proven model, the Accelerace programme has created 650 new jobs and more than 200 companies in Denmark, 90 of which are still trading and who have gone on to raise > €49M. The scheme is an attractive and unique instrument for start-ups, securing a high quality entrepreneur/SME pipeline for the acceleration process. It provides a win/win for the incubator, government, start-up investor.
Contact details to obtain further information on the practice
Tallinn Science Park, Tehnopol
Annex completed on: 03-19-2014