Eleven Ventures is launching the Eleven Alpha early stage startups accelerator

Alpha is an investment from Eleven combined with a three-month program geared towards outstanding entrepreneurs in the early days of their endeavors. Early-stage startups will get personalized one-on-one support through the company-building expertise of the 11 VC team.

Eleven Alpha is geared towards commited founders at a pre-seed stage who are currently working on their idea, product and company.

In some cases, this means coming to the Eleven Ventures with just a bold idea like the founders of Dronamics. In other cases with a rough prototype and a few paying customers like their first unicorn Payhawk.

Eleven will invest a fixed amount of €300,000 for 10% stake in the participating companies at the start of the program. We call this the “Unicorn deal” as we invested on similar terms as a first institutional investor in Payhawk.

The term sheet is publicly available here.

Eleven Alpha timeline can be found below:

• November 19 – Application closes;
• by December 1 – 11 VC will reach out to all applicants;
• December 22 – Documents finalized with selected companies;
• January 2023 to April 2023 – Core program activities.

For mode details, you can check the pre-seed accelerator's page, here: https://www.11.vc/alpha/

About Eleven Ventures

Eleven is an early-stage VC investing in technology companies in Southeast Europe. Eleven VC's priority verticals are: Fintech, Healthcare, Future of work and Future of food.