Apply for Eleven
 
 

Eleven is an accelerator and venture capital fund for early-stage enterprises. It provides entrepreneurial mentorship and expertise, platform/technology support and the critical first round of financial investment. With EUR 12 million of funding provided by the European Investment Fund (EIF) through the JEREMIE Program, Eleven is one of the biggest early stage investors in CEE.

 

We are building a vibrant international community – a thriving ecosystem of entrepreneurs who come together to change the world. Our 150+ mentors bring practical, global business experience, consultation and connections to the 50+ companies we accelerate annually. Eleven is a member of the Global Accelerator Network (GAN) and we are forging relationships with other startup hubs and resources across Europe and North America.

What does Eleven do?

The Roof - Eleven's headquarters in Sofia

The Roof – Eleven’s headquarters in Sofia.

Eleven accelerates the launch of startup teams and their ideas – enabling startup “escape velocity” (the inspiration behind our name: on the surface of earth, escape velocity is about 11 km/s). Eleven’s mission is to provide start-up teams with the acceleration of speed needed to break free of local restraints and become truly global.

 

Startup teams find their first home at the Roof, Eleven’s headquarters in Sofia.  Our expanding list of partners (including Telerik, Microsoft, Amazon, IBM, TechStars, and Google) provide technology solutions and infrastructure support. Startup teams receive mentoring and consultation from a diverse pool of international business leaders and entrepreneurs of all levels. The teams also receive collaborative office space and critical seed funding. Eleven funds potent ideas with up to EUR 200k in incremental rounds, starting initially with EUR 25-50k.

 

What makes Eleven special?

Capitalizing on the rich history and culture of Bulgaria and that of Sofia, increasingly recognized as an international capitol of technology innovation, Eleven is the first startup accelerator and seed venture fund founded in Eastern Europe. Located in the former Bulgarian Telephone Chamber building, the vast open space has been retrofitted into a vibrant, open, collaborative startup hub.

 

The team at Eleven shares a common vision for startup success. We believe:

  • It takes a village to raise a startup – successful startups need a strong support ecosystem, not just funding
  • The investment process is ripe for change – funding needs to be open and incremental, supported through mentorship and counsel, so that great ideas can blossom into game changers
  • Starting small and focusing only on what matters is the only way for startups to succeed
  • Success begets success
  • We believe that networking and mindshare provide the inspiration and elements needed to build a powerful global network.  Eleven sponsors a range of social venues including monthly lectures, networking events, conferences, and award ceremonies.

 

We empower entrepreneurs to …

  • Join a new global startup community with all the resources they need to be successful
  • Leverage the wisdom and support of others to grow their teams and ideas
  • Believe they have the power to change the world for the better

 

Who is behind Eleven?

Eleven can be traced back to three entrepreneurs who share a common passion and vision for developing technologies that work for people and not the other way around.

 

  • Daniel (Dani) Tomov is the guy credited for getting Google, Springboard and many of the other Eleven partners on board. He is acknowledged as the pioneer of IT seed funding in Bulgaria. After launching his own successful renewable energy startup, Dani began investing in and opening doors for others.

 

  • Dilyan Dimitrov is known for his venture capital prowess, but once you get to know him, you will recognize that his creativity and capacity for lighting-speed multi-tasking are also key talents.

 

  • Ivaylo Simov (Ivo) devised Eleven’s strategy. He was previously a director in a private equity fund, but now wants to change the VC industry from the bottom up.

 

With 68 companies accelerated to date and 300 mentors, business leaders and futurists coming aboard (the list expands as startups reach escape velocity and enlist as mentors), Eleven is delivering on its vision.