This autumn, SOVVA starts a new project co-funded by SlovakAid and situated in Albania called: Improvement of the albanian innovativ ecosystem through supporting the creation and acceleration of young innovative companies. SOVVA will implement this project together with our Albanian partner ICTS Media Ltd.
The main goal of the project is education and improvement of the support mechanisms for young entrepreneurs and startups in Albania as well as preparing the startups and young entrepreneurs for business by intense and practical training. The project chose the mechanism of the acceleration program, which offers in depth and concentrated education in startup cohorts, focused on business development as well as improvement of the pitching skills which in turn translates in the ability to attract investors and clients. Joining an accelerator has been clearly named as one of the success factors in the most developed startup ecosystems.
The target group of the project are firstly startups and young entrepreneurs, active or only starting. In the second line comes the target group of support actors in the Albanian startup ecosystem, such as incubators, existing companies or the public sector.
Project will run two accelerators, one in the version Uplift PILOT (6 weeks) and the other in the version Uplift FULL (12 weeks), which will offer intense education for together 16 teams or already existing startups. Uplift Albania is building on the success and the methodology of Uplift Slovakia, an acceleration program which already 20 participants successfully completed, in two rounds. SOVVA was actively participating in preparation and organization of Uplift Slovakia. Uplift PILOT will serve as a testing bed for the concept in Albanian conditions and the lessons learned from the PILOT will be then transferred into the FULL version.
The accelerator program will also be supported by education activities for the supporting actors – prior to the launch of the PILOT, managers of the Uplift Albania will come to Slovakia. Brno and Vienna for training. Two seminars focusing on financing, open for the public will add to the long-term sustainability of the project.