ACME Labs, a new business accelerator opens with a focus on finding world class founding teams with disruptive technology ideas within Hungary and the rest of Central Europe. The region harbors a wealth of technical talent and ideas, but often lacks strong connections to global market and capital opportunities. ACME Labs bridges that gap by working with founders from the idea and vision phase through to a viable product and the next rounds of fundraising.
The ACME Labs' team understands that speed matters for entrepreneurs, so that means the team makes quick decisions. Transparency matters, so that means straightforward, plain language term sheets for early stage investments structured for future capital investment. Networks matter, so that means connecting startups to the right people to solve operational, business, strategy, technology, and marketing challenges. Vision matters for entrepreneurs, so that means finding the right way to bring a founder's idea to market profitably. Values matter, so that means creating ethical companies that thrive on long term business relationships.
"We believe entrepreneurs need to move quickly and intelligently, so our core value is to remove any friction that slow down company development. We need our companies to focus only on what matters. It's the biggest business advantage a startup can have" — said Chris Farkas, ACME Labs' CEO.
The accelerator is located in Budapest, and is open to all aspirants through a competitive application process in which teams must demonstrate a promising idea for a product or service, which can be launched within a short period of time. For the duration of the program, ACME Labs will provide participants with workspace and meeting facilities at its offices in Budapest. ACME Labs's program has standard parts. First, the selected technology teams go through an extensive preparation program. At the end of the program, ACME Labs holds an Investor Day, at which the startups present to an audience of investors.
ACME Labs' founders have decades of entrepreneurial, business, finance, operations, product, development, and marketing experience in global markets between them. György Karadi, the Chairman of the Board, has over a decade of private equity experience in Central Europe, while Chris Farkas, CEO, is a technology investment banker who's managed billions in global M&A transactions. Glenn Thomas and Krisztina Tolnai, experienced entrepreneurs with deep ties in the United States, oversee financial, technical, marketing, and business operations.
Applications are now being accepted for the inaugural 2014 Spring Program that will take place in Budapest from January to April, 2014. The program will provide an intense immersion in global startup best practices to the chosen technology companies from the Central European region. On November 11, the most promising projects will be invited to meet in Budapest, between November 18 and 22. ACME Labs will decide whom to fund by the end of the week. Decisions will include the amount to would invest and the percent of the company we would want for it. The term sheet would be our standard plain language one, available upon request.
If you wish to apply, please submit your application online no later than November 8, 2013. To learn more, visit: www.acmelabs.hu
