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Lithuanian accelerator StartupHighway announces that they are now accepting early-bird applications for their upcoming 4th class. Although their 3rd class has yet to graduate, they are already looking ahead and will be accepting applications until August 1st for their 4th program, which is scheduled to run in Q1 2014. Although prospective applicants can apply after the first of August, the accelerator says that that they will not be taking applications for a time as they become busy with the current class and upcoming Demo Day(s).
Previously, we have written about StartupHighway when they announced their partnership with JEREMIE-supported Practica Capital and when graduate Sellfy secured seed funding last June. In addition to Sellfy, some of the success stories of the accelerator include Llamas Valley, Relead, and Dragdis, which was still in beta when we last mentioned them in January. As a reminder, StartupHighway announced in mid-April that their deal for prospective teams is up to 14,000 euro in exchange for 7,5% equity. Teams can receive 2,000 euro for the idea and an additional 3,000 euro per founder (maximum of 4). As a result of their recently-announced partnership with Practica, teams can also opt-in for an additional 30,000 euro in the form of a convertible note. One thing we have not previously mentioned is that StartupHighway also offers a deal of 3,75% equity (without additional investment) to teams which have already obtained funding or are cashflow positive.
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