The GrowthUP business-accelerator is a part of the GrowthUP Group and is considered to be the first accelerator in Ukraine focused on technology-based projects.
The accelerator was established in 2008 when the team at consulting-firm BayView Innovations, a subsidiary of the GrowthUP Group, examined the state of the Ukrainian technology sector and venture-capital investments, as well as the specifics of the local market, and determined that the time was right for launching a free entrepreneurship academy. This decision was driven by the need to create a sustainable ecosystem of technology-based entrepreneurship, absent from the Ukrainian market at that time, and to build infrastructure for further development.
By 2010, the GrowthUP accelerator was spun off into a separate business incubator for technology startups for the purpose of providing knowledge to as many entrepreneurs as possible and to assist startups in their earliest stages. From 2008 to autumn 2013, more than 350 startups completed our acceleration program, more than 3,000 people attended our seminars, and our graduates raised more than $ 3 million of seed- and $ 45 million in Series A and B financing.
In 2013, after studying the state of the market and its needs, we decided that the time was right for transforming the program that we provide for entrepreneurs and we subsequently developed a new acceleration program, opened campuses in Berlin (Germany) and Silicon Valley (California, USA ), and established GrowthUP+, a venture fund for seed investments. Today, the GrowthUP accelerator represents the only Ukrainian accelerator managed by a team experienced in working with projects in Silicon Valley and in Europe, which allows us to work confidently with global projects.
The main focus of our work with the projects is not just in teaching teams how to prepare documents and create presentations, but in assisting in the development of their business and attracting initial users or customers. Our accelerator boasts a team with some of the deepest theoretical and practical knowledge of customer-development in the Ukrainian market and has started to work with the 8-Blocks model, of which we are the first reviewers. We are further prepared to act as co-investors for promising startups who maintain budgets of $ 25,000-50,000.
Since 2005, the Accelerator’s managing-team has obtained a significant amount of experience in the following areas:
1. Internet services (including SaaS-solutions)
2. Mobile apps
3. Desktop solutions (only in B2B)
5. Startups which boast strong R&D teams and core-technology that can be developed, commercialized, and brought to large markets.
We are primarily committed to working with global startups and have developed a special 4-month program that will allow them to not only understand the basic issues of the technology business and to work with mentors, but to also help them plunge into their respective industries.
We are bound by both formal and informal relationships with more than half of 20 of the top global incubators. We are therefore in a position to help our graduates upon completion of the program in our accelerator to apply for acceptance to these incubators (the majority of which will become familiar to the entrepreneurs during our trips). We are further able to assist our graduates by introducing them to a pool of potential angel investors and to venture capital through our work with 30 + venture funds from Russia, Europe and the U.S. as part of “New Europe”, a coalition of European incubators.
In order to become a resident at the Accelerator, please review the terms of participation.