I now run Prototron start-up fund

On April 2, 2014, in In English, by Siim Lepisk

From April 2014 I’m the CEO of Prototron. Prototron is a start-up fund that gives money to teams to turn their great ideas into first working prototype.

History

  • Prototron was founded in 2012 by Swedbank, Tallinn Technical University and Tallinn Science Park Tehnopol.
  • Since then we have had 6 rounds of funding with more than 500 applications/ideas.
Essence

  • We are filling the gap between the ideas and working prototypes so that our alumni will be able to generate the first sales from their working prototype.
  • We invest up to 30’000€ per start-up and ask 0% share. Of course we prefer the owner’s contribution to be as big as possible.
  • Our focus areas age Greentech, Electronics, Mechatronics and ICT. In ICT projects have to have complex business logic that IP rights can be protected, and/or cannot be easily copied.
  • Prototron is the only fund with a track record in Estonia, that finances building prototypes.
Process

  • There are 3-4 investment rounds each years, in which we give out 2-3 investment each.
  • We get around 100 application in each round, in which we shortlist 20 ideas for 1:1 coaching with business coatch.
  • The 8-10 most successful teams will get to have 7+7min pitch to an expert committee who decides about the funding.
  • The winners will have to go through 6 months incubation process in Tehnopol Startup Incubator, and present their progress to expert committee.
Success

  • So far Prototron has funded 14 ideas in 6 rounds, in total of more than 150’000€.
  • Our alumni has raised money over 1 Mio EUR in one year from getting the funding, and already made successful deals with blue chip companies such as AT&T, Mercedes-Benz, Sochi 2014, Sprint, Verizon and others. 

So, if you have an idea that will change the world, and need some financing and free advice for building your prototype, apply for funding now at www.prototron.ee


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