FAQ
Do we have to move to Poland to participate in the Programme or can we work remotely?
A permanent presence in Poland/Wrocław is not required but the frequency of visits depends on the specifics of your project and detailed arrangements with your Business Partner (Recipient of Technology or VC fund). Attendance at certain meetings, conferences, meetups is mandatory. However, we will let you know in advance so that you can come.
Do founders have to be from Poland?
No. The Concordia Design Acceleration Programme is aimed at Startups from abroad which means that at least 50 % shares or stocks are held by persons who are not Polish citizens and at least one member of the management board is not a Polish citizen.
The Programme is addressed mainly to foreign applicants interested in doing business in Poland.
The Programme is addressed mainly to foreign applicants interested in doing business in Poland.
Is it possible to have a company already established in Poland?
No. Milestone/Key Performance Indicator in the Soft Landing phase is the registration of the new capital company in the Register of Entrepreneurs of the National Court Register. This new company is a “Startup” as defined by the programme.
Can we participate in another Poland Prize accelerator?
No. Remember the acceleration process in the Poland Prize Programme can only be completed once. You also cannot work with several accelerators at the same time.
Who exactly is a Business Partner and what is their role in the project?
The Business Partner is very important. We are looking for Startups that match the needs of our Business Partners. Each Startup must have one Business Partner with whom they work during the programme.
Business Partner can be a company (so called Technology Recipient) or VC fund. Technology Recipient will want to test your product/service and VC Fund is potentially interested in investing in your Startup after the Programme.
Business Partner can be a company (so called Technology Recipient) or VC fund. Technology Recipient will want to test your product/service and VC Fund is potentially interested in investing in your Startup after the Programme.
Can we find a Business Partner on our own?
The Business Partner must first be approved by the Concordia Design Accelerator then by the Polish Agency for Enterprise Development. A Startup, in order to receive a grant, must work with a Business Partner who has undergone prior formal verification and is on the Accelerator’s Business Partners list. A list of Business Partners is available on the Concordia Design Accelerator website.
Expanding such a list is possible, but first the partner must go through the approval process.
Expanding such a list is possible, but first the partner must go through the approval process.
You write everywhere about maximum grant amounts. How will we know exactly how much money we will get?
The exact amounts will be in the budget we prepare together. In Soft Landing and Development phases it will be approved by Accelerator and Startup; in acceleration phase by Startup, Accelerator and Business Partner.
Do we get the whole grant – 65k or are there any milestones?
The implementation of the programme is based on 5 Milestones/Key Performance Indicators. After reaching each of them a Startup receives a financial tranche.
The Key Performance Indicator in the Soft Landing phase is the registration of the capital company. After that you get 10 000 PLN.
The Key Performance Indicator in the Development phase is the signing of an agreement with the Technology Recipient or a term sheet with a VC. After that you get max. 40 000 PLN.
During the Acceleration phase Startup must achieve 3 Milestones/KPI agreed with the Business Partner. After achieving each of them Startup will get part of money.
In this phase, a Startup can receive a maximum of 250 000 PLN, of which the last tranche is at least 45 percent of the total amount.
The Key Performance Indicator in the Soft Landing phase is the registration of the capital company. After that you get 10 000 PLN.
The Key Performance Indicator in the Development phase is the signing of an agreement with the Technology Recipient or a term sheet with a VC. After that you get max. 40 000 PLN.
During the Acceleration phase Startup must achieve 3 Milestones/KPI agreed with the Business Partner. After achieving each of them Startup will get part of money.
In this phase, a Startup can receive a maximum of 250 000 PLN, of which the last tranche is at least 45 percent of the total amount.
Does acceleration last the whole 13 months?
The duration of the programme is a maximum of 13 months – for three phases: Soft Landing, Development & Acceleration. The Soft Landing and Development phases can last a maximum of 3 months and the Acceleration phase a maximum of 10 months. However, they may be shorter.
Can we already have an investment from a Polish VC fund before acceleration?
The Programme is addressed to entities, which, at the latest on the day of concluding the Grant Agreement have no capital or personal relationship with the Organiser or Business Partners participating in the Programme. It means that in the programme you can’t work with Polish VC fund who is your investor. What is more investment in Startups participating in the program must be approved by the Accelerator.
What the company structure must look like?
Startup – shall mean a micro-entrepreneur or a small entrepreneur (excluding natural persons conducting sole proprietorship and excluding partnerships), in which at least half of shares or stocks are held by persons who are not Polish citizens and at least one member of the management board is not a Polish citizen.
Does the newly formed company have to own the intellectual property rights to the product?
Yes. By submitting the Application, the Startup declares that it owns the rights to the Project and the right to dispose of it and that the submitted Application Project is free from any legal encumbrance, security interest, or any claim of a third party.
What language is used for communication in the Concordia Design Acceleration Program?
English is the working language of the Programme. This means that correspondence, meetings, events are conducted in English.
How many startups are selected for the substantive assessment?
The Concordia Design Accelerator team select a maximum of 40 – forty Application Projects, which will be qualified for the substantive assessment.
What are the criteria for the substantive assessment?
The Substantive assessment shall be based on the following criteria:
a) the technical feasibility of the project, – the level of technology maturity,
b) profitability of the project: – product/service user ownership and revenue generation,
c) business sense, which evaluates: – the level of responsiveness of the project to unmet needs, market saturation,
d) project team – within this criterion the following will be assessed: – experience and qualifications of the originators and team members, – time commitment of the team,
e) innovation and business risk – within this criterion, the level of innovation and business risk of the project will be assessed.
a) the technical feasibility of the project, – the level of technology maturity,
b) profitability of the project: – product/service user ownership and revenue generation,
c) business sense, which evaluates: – the level of responsiveness of the project to unmet needs, market saturation,
d) project team – within this criterion the following will be assessed: – experience and qualifications of the originators and team members, – time commitment of the team,
e) innovation and business risk – within this criterion, the level of innovation and business risk of the project will be assessed.
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