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03.04.2014 Europe

Startup Wise Guys Announces New BusinessTech Accelerator For B2B Vertical

By Startup Wise Guys
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Startup Wise Guys (SWG) has opened applications for their new business-to-business (B2B) accelerator. The 3+1 month BusinessTech program aims to cut down on lengthy business sales cycles and increase the success with corporate partnerships.

BusinessTech is built on the wide scope Startup Wise Guys accelerator to offer a vertical and unique program for the CEE region. The new business-to-business commerce orientated program takes place in Tallinn, Estonia, the center of the worlds most advanced e-government. BusinessTech adds a fourth month to the traditional accelerator model, giving extra time to help companies in utilize corporate partnerships, penetrate international markets and get support on finding seed investment.The three core competence areas include payments, security, and cloud.

“Taking an in-depth look on the already established mentor and connection base at the Startup Wise Guys programs and concentrating on the three core areas, we see a clear advantage in the B2B field,” Mike Reiner, founder of Startup Wise Guys, explains the reasoning behind the accelerator's new program. “Cloud, payments and security have a large footprint in the region, with companies like TransferWise and Fortumo rooted in Estonia and the NATO Cooperative Cyber Defence Centre of Excellence located in Tallinn”

Key indicators that startups can provide solutions for larger, more established businesses is among the many challenges faced throughout the sales process. As these challenges are difficult to overcome, connections with corporates will help build brand equity and enable startups. In addition, early-stage pilots with SME's provide critical and constructive feedback along with the required initial traction. Partners include Microsoft Ventures in the cloud area, PayPal in payments, and Clarified Security in the field of security. Besides the few named in each specific area, the program involves a wide spectrum of mentors and partners to cover all the areas of startup needs including insight into strategic problem solving.

SWG has previously funded 24 companies from 15 countries. Most recent success cover three B2B portfolio companies Cloutex- data integration and synchronization for SaaS services; Monolith - analytics for real-life retail stores; and Vitalfields - data gathering and analyzation for farmers, which have raised together over $2m in the first quarter of 2014

BusinessTech applications are open till 20th of May in, program starts from 1st of August.

Startup Wise Guys BusinessTech is partially funded by Enterprise Estonia Structural Fund.

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The Guardian
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