Digital Catalyst Fund, a Bucharest, Romania-based early-stage business incubator officially launched.
Founded by Cristian Burci, the Digital Catalyst Fund aims is to provide funding and counsel for entrepreneurs and start-ups from the United States and Europe, and to connect them with tech teams in Romania. To this end, it has pulled together a board of international experts ranging from tech professionals, academics, entrepreneurs and marketers, who will offer counsel and guidance to startups across marketing, product design, development and infrastructure, business strategy and funding.
Ten entrepreneurs working on scalable new opportunities in the digital media, marketing, and communications spheres will be selected this summer by the incubator’s review team. The selected start-ups will participate in a 3 month program; each entrepreneur will be partnered with a technical advisor, who can function as a CTO, will have the opportunity to pitch to venture capitalists and investors for funding at the end of the incubation period, and will expect to conclude the program with a working prototype.
At the end of the three-month period, up to $500k of total capital will be invested by the Digital Catalyst Fund across the most promising start-ups.
Applications started on May 25th and will close on July 15th. The ten startups will be selected by August 1st and the boot camp in Romania will start one month later. Startups can apply online at www.digitalcatalystfund.com.
The second round, which will start in Jan 2013, will be followed by two more rounds of investments (three each year).