Baltic Ventures has launched its Accelerator 2024 programme, which plans to support up to 12 promising tech startups with funding and mentorship to accelerate growth.

Baltic will invest £30,000 into each company through its 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.

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.

The 2023 cohort went on to raise £5.7 million in follow-on funding.

“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 in 2023, Baltic Ventures secured a £4.1m backing from the Liverpool City Region Combined Authority to create impactful accelerator programmes over five years with the aim to create a platform and community to support tech companies to access angel and VC investment without needing to relocate to London.

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Claire Lewis, CEO at Baltic Ventures, said: “Our first Accelerator 2023 cohort have gone on to enjoy ARR growth of over 500% and are close to raising more than £5.7m in follow-on funding.

“We’re really excited to find our Accelerator 2024 cohort that will build on these achievements.”

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.

“The accelerator has supported me and my business by giving us the most fantastic cohort of individuals, the best learning experiences from people who’ve been there and done it and a network of people who are professionals who we’ll be working with and be friends with for life,” said Kate Longworth, co-founder and CEO at Gaia Learning, who were part of Baltic Ventures’ Accelerator 2023 cohort last year.

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.

Thomas Faraquha,r from GreenTech scaleup Heatio, said: “What I’d say to founders looking to apply: definitely do so, whether you’ve been in business before or you’re new. The skills, knowledge, and coaching you’ll receive are amazing.

“It’ll accelerate your growth beyond what you could achieve on your own, and we wouldn’t be where we are today without it.”

Applications close on 31st May 2024, with Accelerator 2024 kicking off on 16th September.

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