August 12 (SeeNews) - ClimAccelerator Black Sea, a four-month programme jointly organised by Bulgaria-based Innovation Starter Accelerator, Impact Hub Bucharest, and Climate Vertical Romania, will back 14 Bulgarian sustainability startups with solutions contributing to eco-innovation, Sofia-based media reported.
ClimAccelerator Black Sea, which will be supported by the European Technology and Innovation Fund of the EU, will provide eight sustainability startups in their validation phase with a grant amounting to 5,000 euro ($5,900) this year, business news outlet TheRecursive.bg reported last week.
Three startups in their 'initial stage' phase will get the chance to compete for funding of 20,000 euro to develop their idea, while a further three companies that are in an advanced development phase will receive mentoring support for seeking investment opportunities in order to scale up their ventures, according to TheRecursive.bg.
According to Innovation Starter Accelerator, the priority areas of the programme, which follows the objectives and principles of the European Green Pact, include sustainable green business solutions, clean technologies, and eco-innovation, with a special focus on solutions that facilitate the reduction of carbon dioxide emissions.
The ClimAccelerator Black Sea programme is set to begin in September. Bulgarian startups who would like to join the initiative can apply until August 15.
The programme is expected to be launched in Romania in August, TheRecursive.bg also said.
($ = 0.852781 euro)