“Many entrepreneurs underestimate their potential to reach large markets. But tech investors have their own expectations: they need to see that you are targeting more than a local market.”
This was one of the main messages delivered to Romanian entrepreneurs by the GO GLOBAL accelerator coordinators at a meetup for startup founders, investors and tech product development experts.
📷 Smaranda Heroiu of Upgrade 100 and Monica Zara of How to Web explaining the stages of GO GLOBAL!
The event aimed to build on the potential of Romania’s entrepreneurial ecosystem, particularly this opportunity to expand internationally, with only a few days remaining before the GO GLOBAL application deadline of 16 December. The application form is here.
- AFTERMOVIE | A quick look at the event
Participants learned how to join the project and, above all, what investors seek in a startup: one aiming for revolution, not simply evolution, as Arieli Capital co-founder Or Haviv explained:
Those attending also heard the story of BibleChat. Created by a Romanian entrepreneur to provide access to biblical texts, it became the world’s fastest-growing app in its category, known as faith-tech.
“The goal is to change the world”
The event took place under the GO GLOBAL umbrella, a programme that aims to turn Romanian startups into global market leaders.
It was conceived by UPGRADE 100 and How to Web, led by investment firm Arieli Capital, and supported by Raiffeisen Bank Romania and AmCham Romania.
The Bucharest meetup gave entrepreneurs the opportunity to understand which ideas are valued by the programme’s founders at Arieli Capital and its funders at Raiffeisen Bank Romania.
“Evolution is not what matters; revolution is. We must take big risks when the potential is great. Never forget that you need to change the world, revolutionise and grow very quickly,” was the message from Arieli Capital founder Or Haviv.
Raiffeisen Bank Romania was represented by Bogdan Popa, Vice President of Operations & IT. He explained that the bank continually seeks startups whose technology responds to customer needs.
“For us in banking, technology is one of the essential pillars. That is why we partner with many startups: to deliver the technology our customers need,” Popa explained.
Which tech startups are the right fit for GO GLOBAL?
Most questions focused on the qualities a project needs to have a chance of selection for GO GLOBAL.
“We are interested in partnerships that help us do something we cannot do ourselves. Product quality and price matter, as does the startup’s ability to build a long-term relationship with us, because we cannot afford otherwise,” explained Bogdan Popa, who also offered some frank advice.
🚩 LAST CALL! Applications close on 16 December. Find the form here.
Or Haviv emphasised the importance of a global vision, urging Romanian entrepreneurs to abandon the idea that they can make progress by keeping their companies isolated.
“It is better to own 10% of a company worth hundreds of billions of dollars than 100% of a company worth nothing. You need partners who can take you further,” said Or Haviv.
Both Bogdan Popa and Or Haviv agreed that an entrepreneur’s approach to their role in the field is an essential ingredient in any international scaling project.
“The entrepreneur is the most important part of the business. I could not invest by looking only at the technology. There is no place for ego here! Even 0.1% ego makes me think we already have a problem,” said Or Haviv.
The BibleChat story: an example of international scaling
Organised by How to Web and Upgrade 100, the event gave participants a taste of the success achieved by an entrepreneur who scaled his business globally.
The example was Bible Chat, an app that uses artificial intelligence to provide access to biblical texts.
Available on iOS and Android, the app was designed to answer spiritual questions, offer personalised Bible study plans and help users understand verses in context.
- Read more in an extensive article published by zonait.ro.
Laurențiu Bălașa, founder and CEO of BibleChat, explained that the project grew from his desire to promote reading as a way to help people facing difficulties.
“We wanted to build something rooted in faith, while also bringing AI into the space of faith. We felt guided towards it. I believe you have to help people in the way they want to be helped,” said Bălașa.
He also described his startup’s journey: there was no revenue in the early years, despite an investment of approximately €2 million. He then dismissed all his employees and started again from scratch in 2023.
Today, Bible Chat is the world’s fastest-growing faith-tech startup and the only one in the B2C category to have attracted $14 million in investment.
This example supported one of the ideas Arieli Capital founder Or Haviv shared with participants:
“We do not expect promises, but we do expect the entrepreneur to be 100% committed to the goal. They must resist the temptation to sell quickly. Many people depend on you choosing not the quick route to making money, but the path that can turn the company into a giant, if it has that potential.”
Apply to GO GLOBAL through this link. To understand the accelerator’s benefits and the vision of the investors involved, we recommend these articles:
- INTERVIEW | Funding, Know-how and Networking for Your Startup’s International Launch—with Or Haviv, Partner at Arieli Capital
- What Entrepreneurs from Italy, Slovenia and Israel Say About the Arieli Capital Accelerator, Brought to Romania by Upgrade 100 with How to Web, AmCham and Raiffeisen Bank
- Why GO GLOBAL Matters for Romanian Tech Startups: Insights from the How to Web Launch and the Upgrade 100 Live Podcast
📷 Or Haviv in one-to-one discussions with the entrepreneurs attending
What is GO GLOBAL?
GO GLOBAL is an international scale-up programme designed to turn promising startups into global market leaders.
With successful operations in Italy, Slovenia, Utah in the United States and the Czech Republic, the programme combines Arieli Capital’s methodology with support embedded in the local ecosystem, offering a distinctive advantage to companies ready for ambitious international growth.
The programme runs from October 2024 to March 2025 and will culminate in a week of high-impact meetings in Milan, where selected entrepreneurs receive intensive training and meet prominent investors and potential business partners.
- The co-organisers are Upgrade 100 x How to Web. The principal partner is Raiffeisen Bank Romania, and the strategic partner—with the United States a key market for the project—is AmCham Romania.