Frequently Asked Questions
FAQ
The measure supports early stage, IP based entrepreneurs and startups in the medical cannabis industry (including spin-offs from established enterprises) that have a viable business concept based on sound technical and scientific knowhow, and that are in the process of developing the technology into a market ready offering.
We welcome candidates who are solving challenges across the medical cannabis industry, with a focus on Healthcare, Biotech, Medical device, Pharmaceuticals, Digital operations, Agritech (Precision agriculture), and New product technologies.
You must have:
- Remarkable entrepreneurs
- IP or tech based solution
- Plan for scalability
Participating startups receive a grant of one hundred thousand euro (€100,000)
TechforCann Europe accelerator is partially funded by Malta Enterprise – the innovation arm of the Government of Malta.
Malta Enterprise has committed 2.5M euro to TechforCann Europe accelerator to support 20 innovative startups over 18 months.
The accelerator takes only 7% equity from every participating company.
Equity represents our buy-in and faith in the success of your company. We hand-pick our participants based on our belief in your potential for success, and the equity we take represents our buy-in and commitment to make sure you get the most of our accelerator and achieve meaningful, long-term and lucrative business results.
Fill in the online application
Shortlisted candidates will be reviewed by a Scientific Advisory Committee (SAC), made up of world renowned scientists, engineers, clinicians and subject matter experts.
A Professional Acceptance Committee (PAC) will evaluate the startups. The PAC is composed of academics, investors and Malta Enterprise.
Announcement of approval and acceptance. January 1, 2022
Onboarding and disbursement: Before cohort begins, startups must submit documentation to receive upfront capital to cover setup and incorporation costs.
Participants commit to an intensive 12-week hybrid program during which you will be exposed to a global ecosystem of partners, investors and pre-vetted service providers.
Program includes:
Initial funding of €100,000
Validation pilot – Participants are matched with an outstanding EU-GMP certified company in the medical cannabis field who assist you in achieving a specific milestone that can be met over the course of the accelerator program and will result in a better valuation for your startup. (For more information, see “What is a validation pilot and report?“)
Ultimate service package that includes everything a startup needs when establishing a company. This includes dedicated hours with pre-vetted Corporate Service Providers covering: legal, IP registration, accounting, corporate identity, recruitment, and more.
Curriculum led by global thought leaders covering business, finance, science, technology and more.
1×1 Mentorship with leading business and scientific advisors
At the end of each cohort, you will participate in a Pitch Event where you will present your technology to a global network of investors, partners, and strategic advisors for the purpose of joint ventures and on-going investments.
By the end of the cohort you will have increased the valuation of your company, achieved a pre-set milestone and are ready for your next round of investment – with a higher probability for success.
A validation pilot can increase the value of your startup and have a great impact on your ability to raise investment.
We have selected an outstanding group of EU GMP certified Validation Partners who will assist you in achieving a specific milestone over the course of the accelerator program. Your validation partner also has first rights to propose an ongoing business venture with your startup before the end of the cohort! Validation partners provide all/some of the following resources:
Access to facility, working space and labs
Specific equipment & materials
Knowledge & expertise
Science / Business / R&D / Marketing mentorship
Mapping out how tech can be integrated into existing operations
Access to an extended global network
Validation Pilot Report:
At the end of the cohort you will draft a report outlining what you have accomplished and how this has impacted your business model and valuation. This report is an asset for your next investment fundraising round and will be distributed to our network to encourage ongoing investment and business agreements.
Each startup will sign a Mutual NDA with their strategic validation partner.