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Good news for the Estonian startups looking for an accelerator program: accelerator Startup Wise Guys teamed up with SmartCap VC which will inject 1 milion Euro in the local startups that graduate from the accelerator program. SmartCap is the venture arm of the Estonian Investment Fund.
SmartCap will put in 50 percent of the funding, but will require a co-investor, so in a way it will operate in a similar format as Skolkovo, Russian government-backed incubator.
Startup Wise Guys has earlier this year graduated its first international batch of companies, which have been selected from 240 applications. The accelerator offers 15,000 Euro in exchange for mentoring and 8% of the equity. There are 80 mentors in the network.
Applications are still open for Winter 2013 program, 25 days left to get some of that Estonian startup karma.
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