Bright Labs Incubator recap and next steps

 Bright Labs Incubator recap and next steps

Make IT in Oradea is a non-profit organization that has a clear vision to boost, develop and promote local IT&C talent and creative startups, currently developing the first incubator program in Oradea with the entire support of local administration that provides an annual budget of €300.000. 


Genesis

The initiative started in partnership with local companies from different industries, but all of them with tech and IT profiles as Orange, Mobiversal, Paymo, Smartware, Helion, Ro et Co and Adlo.

An incubator has the mission to provide assistance, feedback, workshops to develop, grow and contour startups. This is what we are doing through Bright Labs Incubator, everything is designed interactively and structured for a better chance to register great ideas. The initiative has 3 stages. The first one just came to an end, meaning that pre-selections are done. We had #5 Bright Nights pitching ideas themed events. 

Structure

The first one was dedicated to the students and we had 11 pitched ideas coming from Agritech, Fintech, tourism, education, cybersecurity and recruitment industries. Most of the teams are formed by local students, but one of them is made up of students from the Netherlands. 

The series continued with another 8 ideas presented at the Bright Night dedicated to tech professionals, discovering other innovative and diverse ideas in fields such as mobility, Medtech, marketplace and SaaS. Those in the creative industry also had the opportunity to present their ideas on the third night, ideas in the marketplace area being the ones that manage to occupy places in the next stage from all those 6 pitches. 

Having in mind all those who return to the country after a period in which they were gone, with many good ideas, a Bright Night called „Homecomers” was organized. The ideas presented want to contribute to the social and sports fields. 

For the last event were put together the ideas that develop Oradea to a smart city direction. The 7 ideas pitched also wanted to add value in the area of tourism and cybersecurity.

To sum up, a total of 34 ideas were presented, 20 of them being selected to the next stage, going to prepare for Demo Day which will take place in May. An unlimited number of projects will receive a prize of €5.000 to invest in the development of the startup and will mark the official entry in the 5 months of incubation.

Program’s purpose

The purpose of the program is to finance the best startups in the community, especially those that go through the incubator with a maximum of 50k euros. But there is also the opportunity to skip the Bright Labs Incubator program and to submit directly for funding. Those startups should  meet a series of criteria regarding: Product/Solution Development Stage; Product/Solution Market Validation; Team Formation. Following, a series of interviews.

Make IT in Oradea not only contributes to local development by encouraging tech and IT projects but creates networking contexts and a fascinating community for all involved.

For more details about the Bright Labs Incubator check out their website. 

 

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