The Accelerator Opens Its 7th Application Window with Awesome Investment Terms for Startups from CEE and beyond.
The application window for Eleven Accelerator will be open until June 15. This time the fund offers new investment terms better than ever. The accelerator keeps investing EUR 100k in early-stage startups from CEE and beyond, but this time under upgraded conditions of EUR 25k for 8% equity plus up to EUR 75k as a convertible note, available after the first month of the accelerator program. Eleven will still be able to invest up to EUR 200k in aggregate, depending on the investment needs, progress and interest from third party investors.
Eleven’s new terms give startups an extra level of flexibility, particularly suitable for IoT & other hardware projects, more complex software projects and ones with early traction that want to spend money on marketing. In addition, the convertible loan gives accelerated teams more control over the share that Eleven receives for its investment. The percent the accelerator gets depends on the valuation of the company’s next investment round – the higher the valuation, the lower Eleven’s share.
The application for Eleven’s new application window is available online at www.f6s.com/elevenS7, and will be open till midnight on June 15. The selection process, including applications review, interviews and pitches by the finalists to an extended investment committee will happen in July, and the investments shall be closed in September. More information is available on the fund’s web site at http://11.me/ and http://11.me/blog/.