The Zhytomyr Polytechnic University hosted a presentation of the BGV HARDWARE ACCELERATOR acceleration program for hardware startups (ones developing specific technical solutions and physical products). BGV Group Management, an investment group, sponsors and partners the program. The Ukrainian Startup Fund and the Techosystem, an open association of technology ecosystem players, supported the initiative. The accelerator aims to find and engage talented engineers and create modern innovative products in Ukraine to develop technology businesses in automated production, robotics and the Internet of Things, automotive, medical technology, drones, eco-technology, energy, etc. The acceleration program will be hosted at Zhytomyr Polytechnic, offering both a strong educational and broad practical component for participants.

Для цього група BGV Геннадія Буткевича допомагає Житомирській політехніці за кількома напрямами. По-перше, ми закупили обладнання нового покоління, яке дозволить лабораторії переводити складні технічні ідеї у механізми, які працюють. По-друге, ми допомагаємо командам-учасникам акселератора фінансово, адже вони приходять з ідеями, але потребують інвестицій для придбання додаткових матеріалів у процесі створення власних механізмів. Йдеться про суми до 3000 євро на кожну команду. І по-третє, команда BGV як одна із провідних інвестиційних компаній в Україні готова ділитися власними знаннями і досвідом, розвивати стартапи у повноцінні бізнеси», — зазначив Максим Габрійчук, керівник проєктів BGV Group Management.

“First and foremost, we aim to ensure that talented businesses remain in Ukraine. It is essential for us that ideas and startups, supported by BGV and other industry players, ultimately transform into industrial production with equipment, proprietary technologies, warehouses, logistics, and, most importantly, customers. Hennadii Butkevych’s BGV Group helps Zhytomyr Polytechnic first procure state-of-the-art equipment that allows laboratories to translate complex technical ideas into functional mechanisms and second, provide financial assistance to teams in the accelerator because they come with ideas but require investments for materials to create their own mechanisms. We’re talking about amounts up to €3,000 per team. Thirdly, the BGV team, as one of the leading investment companies in Ukraine, is ready to share its knowledge and experience, fostering the development of startups into fully-fledged businesses.” said Maksym Habriichuk, the Project Manager at BGV Group Management.

Throughout the four-month program, the ten selected participating teams will undergo training and have access to modern university laboratories supported by a technical team. They will attend lectures and workshops from leading practitioners in the field of modern technologies and receive support from specialized experts and program mentors. Thanks to BGV, each participating team will receive a grant of around ₴120,000 for purchasing necessary materials and components.

After completing the acceleration program, participants will showcase their progress to an expert jury, and winners will receive financial and legal support for developing their startup into a market-ready business project. The best projects will be able to attract investments from BGV Group Management.

“At the university’s innovation hub, we focus on scientific research and will do everything possible and necessary to ensure that these research developments and studies evolve into entrepreneurial initiatives. We aim to create a business ecosystem around the university. This is one of the priority directions that will allow the university to thrive,” Viktor Yevdokymov, the Rector of Zhytomyr Polytechnic, said.

As part of the collaboration with Zhytomyr Polytechnic, BGV Group funded the upgrade of the university’s innovation hub laboratory, purchasing modern equipment for training and developing technological projects, such as a vertical machining center, 3D scanner, bending segment machine, compressor, and metal band saw.

The selection process for participants in the acceleration program will start in February 2024. See more details and updates about the initiative on the official accelerator website: inhub.ztu.edu.ua/accelerator

In October 2023, the Zhytomyr Polytechnic and BGV Group Management investment team signed a bilateral cooperation agreement, focusing on collaboration in educational, scientific, and research work, along with the exchange of experience to enhance the quality of professional training and their practical application in production.