Description
Forward Accelerator (often referred to simply as Forward) is an early-stage startup accelerator program based in Lappeenranta, Finland, run by the LUT Entrepreneurship Society (LUTES) — a student-led non-profit that supports entrepreneurship development among university founders. Forward helps first-time founders and early startup ideas move from concept to validated business through structured workshops, coaching, and MVP development support.
Forward is not a traditional venture capital fund; rather, it functions as an idea and early validation accelerator that supports entrepreneurial founders at the earliest stages of company building.
Pre-Seed / Idea Stage
- Forward works primarily with very early-stage founders and startup ideas, including those that may not yet have a formal company entity or external investment.
- The program is focused on validation, MVP development, and early customer discovery, not on scaling or institutional rounds.
Because Forward is an accelerator program (not a formal VC fund), it doesn’t participate meaningfully in Series A or later rounds as an investor — its role ends with early-stage validation and founder readiness.
Check Size / Funding Model
- Forward Accelerator does not publicly disclose standardized check sizes — and based on available information, it appears to provide program support, mentorship, and validation assistance rather than direct cash investments with associated equity terms.
- There is no evidence that Forward takes a set equity percentage in participant companies as part of participation — its value is primarily programmatic support, mentorship, and ecosystem access.
Equity Taken
- Because Forward’s model emphasizes idea acceleration and validation, there is no published equity-taking practice or universal ownership target. Equity arrangements (if any) would be subject to individual agreements outside the standard program and are not part of the publicly advertised structure.
Equity Structure
- Forward does not operate like a traditional VC that invests capital for shares.
- If startups choose to incorporate and fundraise, any equity structuring would occur independently with external investors beyond Forward’s core program.
- Forward’s structure is more akin to an educational and support accelerator, not a venture firm with portfolio equity holdings.
Application / Submission Method
Submission Method
- Founders interested in participating in Forward Accelerator typically apply through a program application portal, run by the LUTES organization — often promoted via social channels and university networks (e.g., Instagram updates about application deadlines).
- Applications are open to first-time founders and early-stage teams with ideas they want to develop.
Interaction
- Once accepted, founders engage in structured cohort activities, including workshops, MVP development, coaching, pitch practice, and peer learning with other founders.
Eligibility
Sector Focus
- Broadly industry-agnostic for early ideas, with a focus on entrepreneurs looking to build and validate tech-enabled solutions — typical of university startup ecosystems.
Geography
- Based in Lappeenranta, Finland, but open to founders who can participate in cohort activities (often local or regionally based).
Stage
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Idea or early traction stage:
- Founders with a concept or nascent product
- Participants who need MVP assistance and market validation support
- Teams that have not yet raised significant institutional capital
Team Profile
- First-time founders and early teams with an entrepreneurial mindset, often supported by university or community networks.
Process
Application Submission: Founders submit an online application outlining their idea, team, and goals.
Selection Review: The LUTES team reviews applications for clarity of idea, founder readiness, and fit with program goals.
Acceptance Notification: Shortlisted teams are invited to participate in the accelerator’s upcoming cohort.
Cohort Participation: Founders attend workshops, coaching sessions, and networking activities over the program’s duration (often around 7–10 weeks).
Showcase / Feedback: At the end of the program, teams typically present progress or prototypes and receive feedback from mentors and peers.
What an Applicant can Obtain
Structured Support: Workshops, coaching, and validation sessions focused on refining business ideas.
Mentorship: Guidance from top coaches and founders with startup experience.
MVP Development: Support in building and testing initial product concepts.
Pitch Practice: Opportunities to practice pitching and market positioning.
Community: Connection to other founders, advisors, and the entrepreneurship society network.
