The pilot stage of Poland Prize, a program that will allow foreign startups to set up a business in Poland, has just started. The initiative will support young, innovative companies in settling in the country and develop their projects. The goal of the program is also to create an image of Poland as the country of first choice to conduct business in Central and Eastern Europe.
Poland Prize is part of Start In Poland program, which creates favourable conditions for the development of innovative projects in Poland at each stage – from the idea phase through acceleration to foreign expansion. The latest initiative aims to provide similar opportunities to the best startups from abroad. Polish Agency for Enterprise Development (PARP) will select three program operators who have the most experience in cooperation with foreign startups. They will conduct scouting, assessment whether a given idea has a chance to commercialize and acceleration of talents.
Poland Prize will support foreign startups as early as they decide to come and run business in Poland and then help them to settle and start a business in our country. For these projects, the so-called dedicated visa path will be introduced. Additionally, a concierge will be appointed, who will support foreigners in everyday challenges – both those related to the transfer to a new country and establishing a business. Apart from substantive support, startups will be able to gain a grant up to PLN 200,000. They will also have an opportunity to establish business relationships with investment or industry partners.
Startups that will come to Poland will be evaluated in terms of: innovation of the proposed solutions and ideas, the estimated value of the solution, potential development and conducting business on other markets. In order to invite a company to the program, it will be necessary to refer to a letter of intent from the Polish side, e.g. from the VC fund or industry partner, indicating interest in the startup offer. The acceleration process will include actions aimed at expansion of Polish innovation ecosystem i.e. mentoring services, accounting and legal consulting as well as specialized technology consulting and networking. Therefore, startups will receive support in acquiring investors, external financing or potential clients.
About 50 young, innovative companies will take part in the pilot of the program. The process of selecting accelerators operators has just been opened. The call for proposals will run from 28 February to 29 March this year. More information about the program is available on a dedicated website.
Source: PFR