EBRD and Ascendis launch IncubatorX SME for entrepreneurs who want to innovate

European Bank for Reconstruction and Development (EBRD) and Ascendis, a training and consulting company, launched IncubatorX SME on Tuesday, a program through which companies in Romania and the region can get in touch with entrepreneurs and consultants, who will support them in transforming their ideas into innovative products and services.

According to a company's release issued for AGERPRES on Tuesday, the program is aimed at entrepreneurs in companies with revenues of less than 50 million euros in Romania, Bulgaria, Croatia and Serbia.

Registrations are made on the XbyAscendis website, from 1 to 28 February 2022. More than 100 SMEs are expected to register in the SME IncubatorX. Up to 20 companies will be selected for the work and will work on their ideas with Ascendis innovation consultants.

In order to participate in the program, SME entrepreneurs must design teams within the company to work for several months with Ascendis consultants and other contractors to develop an innovative solution that has a direct impact on their business.

"The program consists of 3 stages and will officially start on March 15, 2022. The language of the program is English," the release reads.

Thus, at the end of the program will be viable products, ready for launch, and access to the incubation phase will be based on the selection of the jury.

According to the quoted source, participation in the first two stages is free, and for the third stage a participation fee of 784 euros is required. The low cost of participating in the program is possible due to European Union funding under Horizon 2020.

In 2019, the EBRD and the European Union launched a funding framework that supports investment in research and innovation by Romanian SMEs, including by facilitating access to advice.