Baltic Ventures has launched its highly anticipated Accelerator 2024 programme, which plans to support up to 12 promising tech startups with funding and invaluable mentorship to accelerate their growth.
Baltic Ventures will invest £30,000 into each company on Accelerator 2024 through their Angel Syndicate, paired with a structured schedule of masterclass sessions, monthly in-depth coaching, and networking trips to the Sifted Summit in London and Slush in Helsinki. The Accelerator 2023 cohort went on to raise £5.7m in follow-on funding and enjoyed ARR growth of over 500%.
Spanning four months from September to January, the in-person programme is open to scalable digital tech startups with ambitious founding teams committed to making a positive impact. Eligible companies can be based anywhere in the UK and should have an early product or prototype and show initial market traction.
“Joining our next cohort in 2024 means more than just financial backing. It’s about being part of a powerful and intimate peer-to-peer community of founders and having access to experienced coaches and investors who are dedicated to supporting your growth,” said Baltic Ventures programme director, Mo Aldalou.
“Last year, we were inundated with applications from ambitious founding teams across the UK. We’re incredibly excited to open applications for our second annual programme and look forward to welcoming a cohort of ambitious, passionate, and dynamic founding teams on their scaling journeys.”
Those accepted onto the programme will have dedicated support from a coaching team, led by primary coaches Carl Wong and David Woods. The pair exited video technology company LivingLens in February 2020 for $26m and have since focused on investing in and supporting early-stage tech businesses with their biggest growth challenges.
Launched last year, Baltic Ventures secured £4.1m backing from the Liverpool City Region Combined Authority to create impactful accelerator programmes over five years with the aim of creating a platform and community to support tech companies to access angel and VC investment without needing to relocate to London.
Dr Aileen Jones, executive director for investment and delivery at the Liverpool City Region Combined Authority, added: “We invested in Baltic Ventures to support our ambition to make Liverpool City Region a national and world leader in innovation. Programmes like this accelerator help our local tech firms to succeed and create a supportive and attractive environment for businesses looking to relocate.
“This tech accelerator offers tailored, practical support that will help early-stage digital tech start-ups to speed up their growth by offering equity investment along with in-depth coaching and mentorship. I’d encourage eligible businesses to apply.”
Successful applicants can also expect to receive masterclass workshops with leading industry experts, aimed at helping them to avoid common startup pitfalls and master the key principles needed to succeed as a founder.
Baltic Ventures is placing a strong focus on founding teams from diverse backgrounds and founder well-being to challenge the traditional stereotypes of ‘the burnt-out tech leader’ and combat stressful workplaces by offering sessions and guidance on how to grow healthy and sustainable companies as founders.
Applications close on 31st May 2024, with Accelerator 2024 starting kicking off on 16th September.
