StartLabs, a recently-opened first Serbian accelerator in Belgrade, which counts Voja Lalich and Nebojsa Lazic as partners, starts to accept applications for $50K (37,400 Euro) in funding and program in exchange for 10-15% equity. Lalich and Lazic have both started IT and Internet companies in Serbia and the US (IT consulting, daily deals, e-commerce) prior to launching StartLabs.
Like Polish seed fund and accelerator Innovation Nest, which recently announced a call for their ACCELERATE program, StartLabs runs a 2-stage program, with the first stage taking place in Belgrade and the second taking place in San Francisco. It’s worth noting that StartLabs provides initial funding in Belgrade in exchange for equity and then provides additional funding for more equity in San Francisco. Expenses for teams during the San Francisco-stage are covered and the funding provided at this stage goes towards this purpose.
According to StartLabs, they merely act as a minority partner in the business and are there to provide mentorship. They do not require weekly or daily tasks and tests, but aim to provide startups with a solid work environment, to connect them with investors, and to provide assistance with growing the business. In Silicon Valley, in particular, they are able to provide participating teams with connections to boosters, angels, and VCs, and offer opportunities for startups to pitch.
StartLabs does not have limits regarding the geographic origins of the teams applying. Applicants must join as part of a team, but those without one can join the StartLabs Technical Talent Pool. Thus, engineers are able to participate in the program, even if they are not already attached to a particular team.
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