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ELEVEN VENTURES WILL INVEST EUR 300 000 IN TECH START-UPS

By Computing, Web development, Telecommunications, Mobile apps, Digital marketing, Blockchain, 5G & WiFi, Big data, Cybersecurity, Microelectronics, IoT, For the workforce, AI & ML, For ICT professionals, AR & VR, Audience, Basic digital skills, For ICT professionals, Audience, Robotics, Technology, Software engineering, Grant, Bulgaria, OPPORTUNITIES: Funding, International initiative, Other, OPPORTUNITIES
ELEVEN VENTURES WILL INVEST EUR 300 000 IN TECH START-UPS

10.09.2023 |

 Bulgarian venture capital fund Eleven Ventures is looking for candidates to invest 300,000 euros in exchange for a 10% stake in the company. The fund also offers support through the creation of an individual growth plan, meetings with business mentors, as well as support in seeking future funding rounds. The Eleven Alpha program is mainly looking for startups from the sectors in which Eleven usually invests, namely fintech, healthcare, future of work and future of food, but the fund also expresses interest in other startups located in Southeast Europe. According to Eleven managing partner Ivaylo Simov, the fund will invest in around five companies from different sectors, as cited by Capital Daily. Simov notes that companies that already have a prototype or experience working with customers are sought, but that doesn’t mean there isn’t room for early-stage projects. To receive funding, a company must have a good team. According to Simov, this means that applicants should have experience and know-how in the field they are trying to enter, and for the profiles of the partners in the startup venture, it is recommended that they be different to cover the basic needs of a functioning business.

Eleven Alpha is a three-month program with a fast application process and investment receiving within 2 months. The fund reminds that the first Bulgarian “unicorn” Payhawk received a similar investment at its early stage of development.

Applications can be submitted through Eleven’s website until November 19, 2022. The launch of the program and the main activities will start in January 2023.

Details

Website

https://www.11.vc/alpha/

Target audience

Digital skills for all

Digital skills for the workforce

Digital skills for ICT professionals

Digital skills in education

Digital technology 

artificial intelligence
cybersecurity
Internet of Things
big data
blockchain
robotics
augmented reality
virtual reality
high performance computing
machine learning
cloud computing
5G
telecommunications
WiFi
quantum computing
software
mobile application development
web development
microelectronics
digital skills

Form of the funding

Country suitable for the funding

EU

Financial intermediate 

Benefitials 

Startups