18:41 | 31.08.21 | News | 3885

Applications for Batch 2 of Traction Programme are now open

Applications for Batch 2 of Traction Programme are now open.

Batch 2 of Traction Programme is a 10-week mentorship-based programme designed to help companies with early traction accelerate their growth and raise their first or follow-on rounds, setting the ground for expansion to the international market.

The programme is implemented by Catalyst Foundation supported by the European Union’s EU4Business “Innovative Tourism and Technology Development for Armenia” (ITTD) project implemented by GIZ.

Viva-MTS, Armenia’s leading mobile network operator, joins the initiative as a corporate partner and supporter.

The first batch of the Traction programme involved 9 startups offering solutions in such diverse fields as EduTech, logistics, HR, marketing, and more. Batch 1 graduates have already raised €3M+ funding in the form of grant financing, VC and angel investments.

Traction offers hands-on mentorship in Sales, Growth Hacking and Fundraising through a need-based individual development programme. The companies establish their growth frameworks, refine and validate their strategies, get support for expanding in international markets and raise seed rounds. Additionally, up to 5 top-performing companies of Batch 2 will be eligible for receiving EU Seed Stage Grants of up to €50K provided by ITTD project. More information about the grants and eligibility criteria will be shared additionally after the programme launch.

All startups that identify themselves in the following categories are welcome to apply:

Managed to gain early traction (in terms of revenue, sales, user base, etc.);

Have already launched the product (or an MVP/working prototype) or at least ready to launch by September 18;

Have raised a minimum of €20K funding in the form of grants, angel or VC financing, or bootstrapping, or is already generating revenue (not mandatory, but preferable)

Previously graduated from an incubation/pre-acceleration programme (not mandatory, but preferable).

The call for Applications will be open until September 18, 2021. After the screening of applications, interviews will follow to finalize the selection of participating companies. Meanwhile, companies are welcome to register for the Information Session held on September 9th to learn more about the programme. The programme as well as the Info session will be held in a hybrid mode enabling both online and onsite participation. More information about the programme can be found here.