Apply for Eleven
 

Eleven 100

 
 

Eleven 100

by Ivaylo Simov, founder at Eleven

 

In one year we’ve done a lot (see info.Eleven.bg) and we’ve learned a lot. We feel ready to step up our game a notch, so welcome to Eleven 100.

WHAT IS Eleven 100?

An accelerator program on steroids for more advanced startups.

WHAT WE OFFER?

EUR 100k!

That’s right. EUR 50k for 6% plus EUR 50k as a convertible note after the first 3 months.

You’ll get to spend 3 months in Sofia in our excellent coworking space with access to great mentors and the opportunity to collaborate with peers at a similar stage as you.

WHO IS IT FOR?

Projects beyond the initial acceleration stage that have found the enigmatic product market fit and are ready to go ballistic.

Companies that are either raising their next funding round, but are still a few months from closing it, or companies that are on the verge of becoming profitable with a small extra push.

The ideal candidate may have gone through an accelerator recently or has an angel or two on board. It probably already had a few pivots before figuring out what its customers want. It can demonstrate it has hit a chord with its target market by growing revenues and traction.

IS IT FOR MY STARTUP?

Use your best judgement. We also have our standard Eleven Accelerator Program open investing EUR 25k for 8%. Think twice before selecting which option is more suitable for your startup. We shall not look kindly at pre-mature projects claiming EUR 800k valuation. We know the terms are more attractive (like 3x more attractive), but we’ll be looking for 3x more mature companies.

ANTICIPATED FAQ

 
How do I apply for Eleven 100?
We use a unified application form for both Eleven 100 and our standard programme, available at www.f6s.com/ElevenS6. Just make sure you chose Eleven 100 from the drop down.
 
Can we skip the coming to Sofia part?

NO

 
We have a big team, can only some of us come?

YES, as long as all key people do.

 
We have not been through an accelerator and we don’t have any angels. Can we still apply?

YES, but you need to demonstrate impressive traction.

 
We’ve been working on our prototype for many months and invested EUR XXXk, but still haven’t launched. Can we apply?

You can apply, but you’ll most likely get rejected. Please consider the standard Accelerator.

 
Can you invest more than EUR 100k?

YES, we can invest up to EUR 200k in aggregate and we usually do it in incremental rounds depending on your needs, progress and interest from third party investors.

 
What’s next?
For the time being Eleven 100 is a one-off experiment. You’ll be the ones that show us whether it’s successful and then we might repeat it next year.
 
And we’ll not stop here. Look out for specialized cohorts in the next months in different verticals…

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