SeedBooster is the Development Fund's international business incubator whose objective is to unleash the international potential of ambitious business projects and develop them further until they are mature for venture capital financing.SeedBooster has been initiated with the purpose of encouraging business ideas that are innovative and have a global perspective while realising the business potential of many Estonian start-up companies.
The Development Fund currently sees interesting business ideas and solutions, however, launching them globally and priming them until they are mature for venture capital investment requires collaborative thinking, systematic work and essential contacts in foreign markets, partly on account of the fact that they are still in an early development stage.
The Development Fund has an international expert committee and a network of contacts at its disposal; it employs a multi-faceted investment team and has extensive experience in testing opportunities of other projects, which we wish to share with our clients through SeedBooster.
WHO AND HOW?
SeedBooster is a virtual incubator that will offer support through guidance and action, but unlike traditional technology and entrepreneurship incubators it will not provide rental space or similar services. SeedBooster will house a company up to a period of one year (or until it manages to attract an investment) in the course of which all forces will be joined to develop the project further until it is mature for investment. Whether an investment will be made by the Development Fund or a private investor or whether it will be a joint investment - should the project turn out to be a success - is not a determining factor.
SeedBooster's potential clients are companies operating or planning to operate in Estonia that show a realistic promise of growth and willingness to fully contribute to the success of the project. A client of SeedBooster may be a resident of another Estonian incubator or technology park.
SeedBooster constitutes a part of the Development Fund's investment preparation process. Co-operation between SeedBooster's resident companies and the Development Fund will be based on a bilateral memorandum of co-operation and an action plan containing a timetable, development directions and other details related to the potential investment project. Participation in SeedBooster will commence upon signing the co-operation memorandum and the action plan. The co-operation memorandum between SeedBooster and the Development Fund shall be deemed as terminated (a) one year after signing the memorandum, (b) if an investment is successfully attracted, or (c) one month after the submission of a written application by the company or the Development Fund.
• Realistic international growth potential;
•Readiness to assess the company's business model and offer consultation upon drawing up its business plan;
For further information about SeedBooster and participation opportunities, please contact the investment expert of the Development Fund (the former developer and exporter of Myoton), Andrus Oks, at andrus.oks[A]arengufond.ee.