Deadline: 6 January, 2013
Open to: a committed team of entrepreneurs within and outside Bulgaria
Grants: EUR 30,000 in exchange for a 8-10% equity in the startup company plus up to EUR 200,000, are intended for projects with already gained traction
LAUNCHub (Launch hub) is a 9M Euro Seed & Acceleration fund, supported by a mentor-led program that invests in startup companies, mainly from the ICT sector from Bulgaria and the region.
LAUNCHub partners with the largest early-stage micro seed investment fund and mentoring program in Europe – Seedcamp, and with the Cisco Entrepreneurship Institute Bulgaria.
Other organizations that partner with LAUNCHub for the development of the entrepreneurial ecosystem are the co-working space, betahaus and entrepreneurial organizations, such as Start it Smart and other. On an international level, these are – Mozilla Web FWD and DreamIt Venture. LAUNCHub manages an Entrepreneurship Acceleration and Seed Financing Instrument under the JEREMIE Holding fund.
The Program lasts 6-9 months on average, with a 2-month of intensive period, and is focused on customer development and rapid growth of the startup’s project.
- The LH Acceleration investments are worth EUR 30,000 in exchange for a 8-10% equity in the startup company.
- LAUNCHub invests in around 30 teams per year by the so-called “Application window” – opens twice or three times annually – via our website. Once a batch of companies is selected, besides the funding, the startups enter into the Acceleration program in order to rapidly grow their business.
- The companies that qualify for Acceleration Investment receive the so-called “wild card” to follow-on investment of up to EUR 200,000 in total by the LAUNCHub fund, meaning that depending on their progress and performance on Demo Day or Investor Day, they may qualify for an additional SEED Investment.
- The SEED applicants can present their projects to LAUNCHub via ad hoc contact, references by mentors or portfolio companies, or via the Acceleration application process.
- The SEED investment companies are not obliged to participate in the Acceleration program but can take advantage of its key activities like mentoring, networking, Investor Day and more.
- The bonus pack includes products & services, designed for our LH investees, and provided for free or with preferential conditions by our partners in addition to the LH funding.
See FAQs about the Program
- The ideal applicants for the program are expected to be a committed team of entrepreneurs (a single applicant will be considered an exception), with a scalable idea that are capable to present either a prototype, or to define the offered product or service.
- The organizers encourage all kinds of ideas, which will “disrupt” the so far established models of work in the spheres like education, healthcare, entertainment, finance and other.
- LAUNCHub is open to applicants within and outside Bulgaria. The key criteria are that the teams set up a legal entity in Bulgaria and be present at least during the intensive part of the programs.
You apply for LH funding by answering the questions in the Application form. Once the form is active, within a period of about 1 month you can fill in, edit and finally submit it via the LH profile. You can submit your application here
Within 2 weeks after the Application deadline, if your project is pre-selected, you will be contacted for an interview. All applicants will be informed if they have been selected or not.
If you are among the shortlisted, you will be invited for the final selection process – the “Long Weekend” – usually about a month after the Application deadline.
Together with another teams you can expect plenty of good staff during our 4-days event. You will meet the LAUNCHub team, coachers, and mentors and get as much help as possible to fine-tune your presentation so that you perform better on the last “Challenge Day” of the Long Weekend. Then you will get to your final pitch in front of the Investment Committee.
If you qualify for funding, you will be contacted within a couple of days right after the “Challenge day” and hopefully you will be among the teams who join the LAUNCHub Program and family.
The application deadline is January, 6th, 2013.
For more detailed information read the Application FAQs