Two weeks into the new year, and this is a third story about startup accelerators in Eastern Europe. The competition between them is obviously high and to compete they must demonstrate success.
This time it is Bulgarian startup accelerator Eleven.bg that talks about its achievements. Here are a few key facts.
Since the first batch of 11 companies accepted to Eleven.bg in September 2012, the Jeremie-backed fund, spent nearly 2,5 million Euros, backing 46 teams. 250 mentors from 10 countries are involved in the coaching process, 65 percent of them have entrepreneurial background.
Despite a low acceptance rate of 3,65 percent, only seven of the accepted 46 teams received a follow-on investment of 1 million total, averaging out to 147K Euro per team.
Geographically, more than half of startups came from Bulgaria, between 4 and 5 teams came from Serbia, Romania and Croatia.
The Eleven.bg startups operate primarily in the sectors of digital media, social, productivity and lifestyle. The full infographics is available here.
Applications for the next batch will be open on the first of February.
