24.09.2020.
BoostMeUp - We launch startups into business orbit
The BoostMeUp pre-accelerator program organized by IPC Tehnopolis, Science and Technology Park of Montenegro and Amplitudo is key support for the development of startups in Montenegro.
The BoostMeUp program, created as a unique blend of networking expertise and innovative platforms, is an opportunity for local micro and small businesses as well as development teams to put their business ideas into the business ecosystem through a series of strategic activities and collaboration with regional and EU experts.
It is a national platform that aims to increase the number of innovative companies that have a tendency to grow rapidly or start-ups and thereby influence the digitization of Montenegro's economy through the development of Montenegro's innovative ecosystem and create a platform for new tools and skills to promote innovative entrepreneurial potential.
After the initial call to the teams that have an idea/concept or already formed company, and selecting the best ones, a five-month program begins, which aims to give participants, ie. provide future startups with the necessary knowledge and experience to start a business. In addition to national, regional, and experts from EU countries with years of knowledge and experience in these areas - teams were also provided with financial support to help them launch a business.
The program will, after selecting teams, carry out all the ideas and startups selected through seven pre-acceleration modules in five months - key areas for developing their idea with top experts. Finally, the Montenegro Pitching contest will be organized within the Western Balkan Startup Forum in 2020, where the winner of the Program will be selected.
Ultimately, by connecting with investors, business angels from the country and the region, we aim to encourage companies to invest in startups and create a modern domestic market for innovation.
The practice so far has shown that a great number of ideas, especially inventive ones, did not see the big business stage due to a lack of advanced thinking during development and realization. The program is therefore specifically focused on the aspect of empowerment and presentation to investors and represents a significant step in the implementation of a European Union initiative that promotes a new model of economic development at the national or regional level based on targeted support for research and innovation activities.
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24.09.2020.
Selected teams passed the first validation of ideas
Unforeseen circumstances and the situation with the coronavirus slowed down but did not completely stop all activities. Although IPC Tehnopolis, Amplitudo, and the Science and Technology Park of Montenegro planned in detail the implementation of the first pre-acceleration program in Montenegro - BoostMeUp, some activities had to be implemented differently. However, this did not affect the dynamics of the planned activities, so Bootcamp within the program was organized online using the Zoom platform.
BoostMeUp is the first pre-acceleration program in Montenegro, which is reserved for innovators, development teams in the early stages of an entrepreneurial venture, as well as entrepreneurs who intend to bring new and innovative products or services to market.
47 teams with innovative ideas applied to participate in the program, of which 19 teams were selected to present their ideas at Bootcamp.
Due to the current situation caused by the virus corona, Bootcamp was held online thanks to the Zoom platform in the period from 13 to 16 April.
Within Bootcamp, the teams had the opportunity to present their ideas, answer questions and work with representatives of the consortium of project partners and international, regional and national mentors such as Tanja Senekovič - Slovenia, Petra Karanikić - Croatia, Vladimir Nedović - the Netherlands, Maja Miljević - Bosnia and Herzegovina, Djordje Ćelić - Serbia, Nenad Novović - Montenegro and Darko Ivanović - Montenegro. The BoostMeUp program also provided support for the BeSME project, through which key EU expert Phillipe Geffroy - France, as well as experts Alain Kagan, Arnaud Catinot, and Jean-Luc Scherer were included in the program.
Ideas and teams were evaluated on the basis of 5 criteria: area of activity and compliance with the priorities of the Smart Specialization Strategy, team, stage of the development - phase of the project, innovation, and competitive market solutions and pitch.
Of the 19 teams that participated, six ideas that were rated as the best in Bootcamp and with the greatest potential for growth and development were selected to be part of the four-month BoostMeUp pre-acceleration program under which they will receive financial support of EUR 4,500 per team, mentoring program in 7 modules, services of using the coworking space Code Hub Nikšić, FILA innovation laboratories, biotechnology laboratories, space for making rapid prototypes. Selected teams are Flourish, Seljak.me, Orhis, Zahn 265, Solar Villager, Sunrocket Solar Cooker.
In addition, five ideas, which in the opinion of the consortium of project partners and mentors were evaluated with the potential for further growth and development, were given the opportunity to be part of the four-month program and receive non-financial support. The teams that received this support are Partour, Innat, Light4Life, Smart Bike Parking System, Flat Wind Generator for Highways and Urban Areas.
A very important aspect of the evaluation was the compliance with the Smart Specialization Strategy, which enables the strengthening of the competitiveness of the economy by connecting its own forces in research and innovation with the needs and development possibilities of the economy. Achieving the main goal of S3, ie a modernized and competitive Montenegro is based on four key strategic priorities:
Sustainable agriculture and food value chain,
Energy and sustainable environment,
Sustainable and health tourism,
Information and communication technologies (ICT)
The selected teams that entered the next phase focused their area of activity towards ICT in combination with another area. Thus, in Sustainable Agriculture and Food and IT Value Chain, we have 3 teams, Energy and Sustainable Environment and IT - 2 teams, Sustainable and Health Tourism and IT - 1 team. Other teams are from the following areas: Traffic and IT - 2 team, Psychology and IT - 1 team, Creative industry and IT - 1 team and Sport and IT - 1 team.
What next?
As of Monday, May 11, all teams continue to further develop their ideas together with their mentors. The entire program continues to be implemented, in accordance with current events and recommendations that we will receive. The selected teams have a large number of workshops, training, consultations, and work on the development of ideas that will be organized online or in IPC Tehnopolis, until the very end of the program, which will be organized on 22. September 2020 within the Western Balkan Startup Forum 2020 organized by IPC Technopolis for the second time.
As part of this international event, a competition will be organized - Montenegro Pitching Contest where teams that have successfully completed the program will have the opportunity to present their innovative ideas and knowledge and skills acquired through work within the program to potential investors, business angels, representatives of national and international business communities and institutions from the country and the region.
Upon completion of the program, users will be provided with the support of the Business Incubator for further development of their ideas as part of this program, which includes the use of data center resources, industrial design laboratories, FILA innovation laboratories, and two biotechnology laboratories, as well as the use of coworking space and other infrastructures of IPC Tehnopolis, Science and Technology Park of Montenegro and the company Amplitudo.
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24.09.2020.
Eight new innovative business ideas one step closer to the global market
IPC Tehnopolis, the company Amplitudo and the Science and Technology Park of Montenegro, with the support of the Ministry of Science, are developing eight new innovative business ideas through the first pre-acceleration program in Montenegro - BoostMeUp.
The goal of this program is to enable young people and development teams to commercialize their idea, with financial assistance in the amount of 4,500 euros, non-financial support of mentors and the use of infrastructure segments, and bring it to the national, regional and global market.
Over 40 team members and mentors gathered in Technopolis from June 22 to 24 to finally meet the teams in person and through workshops continue intensive work on the development of ideas selected to be part of BoostMeUp.
All work halls were filled with the knowledge that all seven mentors passed on, through individual or group workshops, through online platforms or live. Part of the mentors was prevented from coming, so the workshops were held through digital technologies, while the mentors present in person did not hide their satisfaction with the entire program, ideas, teams, and their progress.
On this occasion, they said that this program is a very positive thing for Montenegrin entrepreneurship and that a live conversation with team members gives some additional value. The areas in which their mentors transfer knowledge have been unknown to some of the teams so far, but throughout the program, they received the necessary support to improve and eventually have the finished product and present it in the right way at the final event in September. Here is what the mentors said about the program so far:
Teams that are part of the BoostMeUp program: Orhis, Flourish, Seljak.me, Sunrocket Solar Cooker, Solar Villager, Zahn265, Innat, and Partour develop their ideas in the fields of energy, tourism, agriculture, ecology, ICT and are directed towards the digitalization of society. In strategically key areas defined by the S3 strategy of smart specialization of Montenegro, which enables strengthening the competitiveness of the Montenegrin economy by connecting forces in research and innovation with the needs and development opportunities of the economy.
After two days of energetic and intensive work, team members expressed satisfaction with the acquired knowledge, the opportunity to work with mentors live, but also the opportunity to exchange experiences and ideas with other teams that are participants in the program.
The program will be followed by new workshops that will also be organized at IPC Technopolis in mid-July. The teams have only one task - to work diligently and persistently on the development of their ideas in order to present their ideas to investors, business angels, at the final event, Montenegro Pitching Contest, which will be held on September 22 within the Western Balkan Startup Forum. and successful entrepreneurs from the country and the region.
Through such and similar projects financed by the Ministry of Science of Montenegro, we are sure that we are on the right path of development of the Montenegrin innovative and startup ecosystem, and that the teams will take another step towards the global market because they will gain the comprehensive knowledge they need.
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24.09.2020.
How have we formed our startup ecosystem
For the first time in history, throughout the IT industry, less developed countries and people inhabiting them have the opportunity to be competitive in the global economy. To do so, they do not need expensive infrastructure – factory facilities, special machinery, highways, airports, seaports, etc., just a good organisation, computers and most importantly – people and ideas.
Here in Amplitudo, a couple of years ago, we have realized that we want to build a team capable of being competitive in the global markets.
Our people are the focus of our activities. Thus we started to enhance and build our team-up.
We have engaged Nebojša, our successful IT professional, living and working in New Zealand for the past 25 years. With his help, we started with the implementation of the world's best practice within our Delivery team (developers, testers, Product Owners), and investments in education.
We have launched a series of training sessions that we decided to finance ourselves, and we called it Amplitudo Academy. We have contacted local IT and graphic design related faculties, and made cooperation agreements (past lectures of our experts, special workshops, events, etc.), aiming to motivate students, future professionals, and our colleagues.
We understood that we could not survive in the long term if we think locally if we outsource and develop individual solutions for clients' needs. Therefore, we have started with development and were turning ideas to digital products, which is a painstaking, expensive and risky path for any company.
The entire profit has been invested back in people and our products. We haven't always been 100% successful in that process, however, the overall image has started to improve.
Fast forward to the present moment – our team consists of nearly 70 people, out of which one half is in the Delivery department. We have international clients (some of them are worldwide companies). The majority of our staff has been trained by ourselves through the Academy, taking place in the biggest IT lecture room at the Faculty of Electrical Engineering, renovated and branded by Amplitudo. Furthermore, we have developed a scope of digital products.
What may be the most interesting thing is that, along with our partners, we have equity in about 10 innovative startups showing great potential for the international market. The cherry on top is our entrance to the gaming industry – we have launched intensive training for developers and designers, with a view of starting game production until the end of 2020.
One of the things we are most proud of is the startup ecosystem we have developed. It is most easily explained using the analogy of the traditional schooling process.
We are starting with the elementary school – our startup schools for students, created and implemented in cooperation with the Faculty of Electrical Engineering in Podgorica. With the help of our mentors who are proven professionals in the business world and former students of this faculty, candidates learn how to shape the idea, what the fast-growing innovative company is, what does the pitch looks like and how the prototypes are created. After a four-month program, teams will be allowed to demonstrate what they learned during a public competition of their ideas.
Secondly, highschool – our pre-acceleration program BoostMeUp, implemented with the support of our Ministry of Science and our partners – Tehnopolis and the Science and Technology Park of Montenegro. Out of approximately 50 Montenegrin teams that applied, 25 have been preselected and they are entering a four-day boot camp. After that, we will choose six finalists that will become part of the program.
Afterward, we have faculty – along with our partners we have created our incubator – the DigitalDen where we invested not only our money but the significant part of our resources as well (developers, marketers, graphic designers, etc.).
Ideas that pass through the previous two stages are ready for market validation. We help them achieve that and give our best efforts to make them become a Unicorn.
Some examples of companies in our incubator are: the Badger, GoPlant.me, FinalFind, etc. What makes us even more proud and happy is that people from Montenegro and abroad have recognized our efforts and the quality we possess. As an outcome, we have a constant inflow of ideas, partnership proposals, and entrance to our Digital Den. To make the value of our startups as large as possible from the very beginning and to have facilitated a path towards financing and VC funds, we have decided to expand our partnerships with real companies and institutions.
Ideas that pass through the previous two stages are ready for market validation. We help them achieve that and give our best efforts to make them become a Unicorn.
Some examples of companies in our incubator are: the Badger, GoPlant.me, FinalFind, etc. What makes us even more proud and happy is that people from Montenegro and abroad have recognized our efforts and the quality we possess. As an outcome, we have a constant inflow of ideas, partnership proposals, and entrance to our Digital Den. To make the value of our startups as large as possible from the very beginning and to have facilitated a path towards financing and VC funds, we have decided to expand our partnerships with real companies and institutions.
Thus, with the help of the U.S. Embassy in Podgorica and the State Department, we have made high-quality connections towards companies from California and Silicon Valley.
Hence, we have created a kind of tunnel joining our startups directly with the biggest IT stage in the world.
Apart from that, we have included a whole host of worldwide companies that recognize the potential we created. Thus, every startup that comes out from our den will have an added value from these worldwide giants (in the fields of market validation, financial analysis, and five-year financial projections, as well as the most modern cloud solutions and hardware resources essential for high-quality work).
You will find out their names in the digital den. :)
We are glad to say that Montenegro recognized us as the fast-growing startup industry and as a valuable potential for the development. It is doing its best to facilitate our efforts and efforts of similar companies, through new laws and specific support.
In conclusion - ideas and people. Two crucial resources from our point of view.
We have worked hard to develop a system that will be stimulating for the goals we have set.
Montenegro is a beautiful place to live in. We want to be patriots and contribute to our community by preventing brain drain by creating good working conditions and projects we are involved in.
Finally, our further plans include the construction of a special IT park which could provide long-term support to all above mentioned activities. We have gone far in this direction, however, this would have to be the material for the next blog post. ME
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