Poland Prize to dole out 70,000euro to tempt startups to Poland

Even 300,000 PLN a non-returnable grant to get start-ups under the “Acceleration Programs – Poland Prize”. The Polish Agency for Enterprise Development has just selected new entities that will work with the originators and awarding funds for the implementation of young, prospective projects. The initiative is aimed exclusively at foreign start-ups.

The initiative is aimed at attracting interesting, innovative projects to Poland. The project is implemented with the funds of the Smart Growth Operational Program, and its budget is currently over PLN 100 million. What start-ups are the organizers’ target and what conditions must be met for the originator to be able to obtain support?

The programs offered by the accelerators will take place in two stages. The first one starts with scouting, i.e. activities aimed at acquiring startups with appropriate growth potential from outside Poland. Selected entities may receive a grant of up to PLN 50,000 PLN to cover the costs of a maximum of three months for the first activities in Poland. These activities are to provide startups with the conditions necessary to start a business in Poland and include support of a startup supervisor (concierge). The funds are also intended to serve the costs of activities necessary to develop the startup’s operations in Poland, related to e.g. building a team or raising its competences, establishing relationships, promoting and acquiring a business partner.

In the second stage of the program, startups that have successfully established cooperation with a business partner will be able to receive a grant of up to PLN 250,000 PLN. This is support to cover the costs of acceleration activities. This process can take up to 10 months and is used to conduct a pilot implementation of a startup at the recipient of the technology and / or to obtain investment capital.

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