TechHub: PFR’s new program to support Polish deeptech startups with up to €110M
More and more Polish corporations open themselves for new high-tech solutions and cooperation with local startups. The deeptech sector has been gaining traction in Poland’s innovation ecosystem lately. However, the sector arguably lacks a leader figure. The Polish Development Fund (PFR) is on the way to become such a figure with the launch of its TechHub program.
Under the newly launched TechHub program, PFR will invest up to €110 million in Polish deep tech companies that have successfully commercialized their products. AIN.Capital talked with PFR about the initiative.
Tech Hub investment details
- The program is officially started after the main media presentation at IMPACT’23 conference in Poznan. Before the start, PFR analyzed the sector and decided on investing in six key industries under the TechHub program:
- advanced electronics and robotics,
- 5G and Internet of Things,
- artificial intelligence (AI) and digital technologies,
- drone industry (U-Space),
- space technologies (New Space),
- chemistry and materials engineering.
- TechHub focuses on Polish companies who seek for additional investments for expansion or scaling up, after having successfully commercialized their products or services. To be eligible, the companies need to have a proven financial record (EBITDA > €4.5 million (PLN 50 million).
- Its minimum investment ticket is €11 million (PLN 50 million PLN). Maximum ticket can go up to €110 million (PLN 500 million) per company.
“Deeptech is a hot topic across Venture Capital Industry in recent years. We observe such increased interest from many developed countries, including Germany, France, UK, Sweden, Israel. Deeptech first of all represents technological advancement and disruptive technology. It creates a base for economic growth, global competitiveness, and further innovations. Poland can position itself as a hub for technological innovation, attracting international attention and private investment. But now Polish Deeptech sector needs support from state institutions to fully reach its potential,”The Polish Development Fund comments.
- In addition to Polish companies, PFR is open for talks with Ukrainian high-tech companies willing to transfer their business activity to Poland.
- Currently, TechHub team is in advanced stages of talks with a couple of undisclosed companies. And it continues to meet with potential targets to present the program and discuss future cooperation.
The companies can apply for the TechHub program by contacting PFR at [email protected]. The team will reach the company and arrange further communication.