Accelerating business

Czechinvest

Thanks to the CzechAccelerator 2011-2014 project, another Czech start-up has travelled to the United States and is already collecting prizes in local competitions. Creativity is the key to success.

The company CUPtech registered in the CzechAccelerator 2011-2014 with a program that facilitates programmers’ work with visual material. Thanks to the project, which is financed from the Operational Programme Enterprise and Innovation (OPEI), two representatives of the company were able to travel to the United States for a three-month residency at the RocketSpace  incubator in San Francisco. Their ideas have been awarded by the juries of the Photo Hack Day 4 and Startup Weekend San Francisco competitions.  

Czech firms are receiving awards abroad for their creative concepts, even though the creative industry in the Czech Republic is still a bit on the periphery.

“The CzechAccelerator project helps small and medium-sized start-ups with good ideas to reach innovation-intensive locations and acquire new partners, experience and capital investments. The ‘Accelerator’ has already sent 28 companies out into the world,” says Petr Ocko, acting CEO of CzechInvest and director of the EU Funds Section at the Ministry of Industry and Trade, describing the project.

The CzechAccelerator project helps young firms to gain valuable experience abroad by arranging residencies for them in business incubators. Participants receive access to office space and contacts to potential strategic partners and investors. In addition, they can also hire advisors and a mentor to help improve their business plans.

CzechAccelerator operates in five destinations: two locations in the United States (Silicon Valley, Boston), Singapore, Israel and Switzerland. CUPtech travelled to the RocketSpace incubator in the heart of San Francisco, which is specifically intended for ICT firms and cooperates with the project partner US Market Access Center.

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