A handful of Central and Eastern Europe’s most promising entrepreneurs spent two intensive weeks at CEU Business School in Budapest, Hungary this month preparing for what many say is a requirement of startups from emerging and transitioning regions: being global from day one.
Compared to countries like the United States, startups in such regions have a naturally smaller pool of funding and customers to tap into, making the ability to attract financing and customers from all over the world essential for growth. The two-week training is the first stage of an innovative program that iCatapult, an accelerator and business development company, created to help European entrepreneurs turn their technologies into viable global companies. CEU Business School is the academic partner in the initiative, collaborating on program planning and providing support such as access to faculty experts, among other activities.
Startup teams in the training program worked with international and local mentors to hone their business plans and investor pitches. They also learned the principles of lean startup methodology and received an insider’s look at the culture of American entrepreneurship. It is in the U.S. where selected teams will embark on stage two of iCatapult’s program. For nearly three months, they will live in Silicon Valley with other non-American startup founders who also want to scale their companies globally. Teams will be plugged into the U.S. entrepreneurial ecosystem and receive ongoing industry feedback from U.S. experts about their products and market opportunities.
iCatapult will be involved for up to 18 months as companies execute their business and fundraising plans. CEU Business School’s role as the academic partner in the unique initiative involves documenting and analyzing the program’s design and outcomes. Through the school’s Innovation and Entrepreneurship Project, which is funded by a grant from philanthropist and investor George Soros, researchers are expected to publish findings and develop curricula that business schools throughout the world’s emerging and transitioning economies can use to empower their globally-ambitious entrepreneurs.





