Thursday 23 October 2014:
The following is a press release from Accelerace Life/Enixus Baltics:
Accelerace (Denmark), Tallinn Science Park Tehnopol (Estonia) and Enixus Baltics (Latvia) have been awarded a Baltic Sea Region (BSR) seed facility project to validate a new acceleration and acceleration financing model. With Enixus as the lead partner, the group (Accelerace Life) will work in the Baltic Sea region to validate and implement the acceleration platform which they have developed and been partially using on an ad hoc basis. Peter Torstensen (CEO of Accelerace) is sure that “our existing partnership will effectively leverage this project to create in the Baltic Region the first fully sustainable international accelerator.”
The Accelerace Life team has been working for two years on creating a regional business accelerator that uses debt based financing (at the start) to both finance innovate start-ups and finance the accelerator in a sustainable fashion. This stands in contrast to the typical accelerator that takes equity stakes in the companies it works with, and, thus, dilutes equity at a very early stage.
The BSR funded project commenced on October 14 and will continue for 8 months in total. The Accelerace team will meet and speak with finance sector, government sector and start-up representatives to test hypotheses and questions designed to understand how the model can be applied. Ultimately, the project output will be a sustainable acceleration platform and possibly projects and investments that will support it.
For more information contact:
Thomas Schmit, Founder & Partner, Enixus Baltija, tel. +371 29 183 269; Thomas.email@example.com