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Eleven Ventures, the Bulgaria-based venture capital firm focused on pre-seed and seed investments in Southeast Europe, announces the debut of the second edition of Eleven Alpha, a three-month program aimed at outstanding early stage entrepreneurs in developing their own businesses. The program also represents an initiation into the world of Eleven – entrepreneurs work alongside experts to create a clear path from product to market, having access to the vast expertise of the company and the community formed around the brand. They come with the primary benefit, an investment of 300,000 euros for 10% of the capital, but also with a series of terms and conditions favorable to the founders, namely with a two-month waiting period between application and signing the contract.
The application process is very simple and quick, so founders can stay focused on their business. It is necessary to fill out a short application form (where a pitch must also be attached), then a meeting with Eleven’s investor team follows. Afterwards, there is a meeting with the members of the selection committee, if the startup successfully passes the preliminary stage.
Eleven Ventures actively invests in Romanian startups, with plans to increase the number of local partnerships. Currently, companies such as Frisbo, Pluria, Nestor, Flaminjoy (ex-ProductLead) or SuperOkay benefit from the support of the venture capital firm. The Eleven Alpha program is geared, in the pre-seed stage, to dedicated founders who currently care about the idea, the product and the company they manage. That can also mean having a bright idea and an early prototype, or already an incipient community of paying customers. Eleven’s four pillars – Fintech, health, the future of jobs and sustainable food – remain priorities.
During the first edition of the program, the Eleven Ventures team analyzed more than 450 projects from 25 countries. After a rigorous analysis, the fund selected four companies: Flataway and TrueInsights from Bulgaria, MyTeam from Greece and Perfeqt from Slovenia.
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