Wasn’t it just a few days ago that I said that Europe had gone a little incubator crazy? Well, more news on that front, this time coming out of Sofia, Bulgaria, of all places: Eleven, backed by €12 million of European taxpayers’ money, gets its official unveiling today, along with announcing the first eleven startups to be accepted into the program. It also boasts some impressive partners, including Google and Springboard.
Targeting teams in Central and Eastern Europe (although, interestingly, the accelerator will accept applications from anywhere), Eleven is offering startups €50,000 in funding for 10-15% of equity with a remit to help them go from discovery to validation, taking them past an initial MVP to be seed and series A investment ready. To that end, a follow on seed investment of €150,000 will be on offer to around one third of the graduating startups for up to an additional 15% equity — so the opportunity really is their’s to lose.
To read the full, original article click on this link: Another Accelerator Sprouts Up In Europe: Eleven Launches With €12m Fund, First Startup Cohort | TechCrunch
