French Startups: move to Bulgaria and LAUNCHub will give you €200K

French Startups: move to Bulgaria and LAUNCHub will give you €200K
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LAUNCHub, the seed fund and accelerator program from Sofia, Bulgaria, has opened its fourth application call for financing startups, applications ending on November 3d 2013. Despite originally being reserved to South and Eastern Europe, LAUNCHub is now welcoming startups from all over Europe. Since 2012, LAUNCHub has invested 2 million € in 25 companies situated mainly in the SE Europe region. Moreover, the fund is strategically partnering up with Seedcamp and Mozilla WebFWD. LAUNCHub is also actively building a bridge between Europe and the US, and already in the process of moving its most promising startups on the other side of the Atlantic.

Update: in the previous paragraph, we incorrectly stated that LAUNCHub has invested in 5 companies; it is, in fact 25 companies.

LAUNCHub is looking for young startups with interesting projets. The companies who make it to the short list will be invited to Sofia for a 4-day Long Weekend Event, which includes mentoring, pitching and networking. For those who qualify further, the real adventure begins. They will receive €30.000 worth investment in exchange of a 8-10% equity and enter the Acceleration Program which provides mentoring and guidance, skills and expertise development, networking and most importantly the so-called “wild card” to follow-on investment up to €200k per team, the focus being however on the startups that have managed to gain some traction in terms of sales, users or product development.

The Program lasts 6 to 9 months on average, with an intensive period of 2 months when the team will have to be locally present. Considering that the average cost of living is lower in Sofia than in Paris, the adventurous, open-minded teams willing to get out of their comfort zone will certainly find this offer more than interesting.

For applications and more information, click here.

4 Responses

  1. Avatar
    David P.

    “Since 2012 LAUNChub has invested 2 million euros in 5 companies”
    Are you sure of the number of companies? It seems a bit low for a seed and accelerator fund

    • Avatar
      Stephane Gantchev (Launchub)

      David P. , Indeed there was a typo, we at Launchub have invested in 25 companies (26th even just added), not 5, this was corrected in the article.

  2. Avatar
    Haki S.

    Am I reading this straight?

    “LAUNChub is also actively building a bridge between Europe and the US and already in the process of moving its most promising startups on the other side of the Atlantic.”

    How in hell can the UE even tolerate that? It is nothing more than a deliberate economical raid on our assets, hacked out of European soil under the guise of some helpful bait!
    That is downright scandalous!!
    Are we Europeans now reduced to be nothing more but the easy whores of the USA and be raped off of our best talents?
    How can we NOT boycott such a seedcamp that reeks off of ultraliberal internationalism?
    Promoting it is a grave mistake.

  3. Avatar
    Stephane Gantchev (Launchub)

    @Haki S, you are overreacting, we are indeed building a bridge to the Valley, but similar bridges are done with UK and French VCs for follow-on investments. Moving a company to the US if their primary market is there is not a mistake. If those entrepreneurs are successful, when coming back to EU they bring know-how, network and boost our ecosystem, they are usually our angel investors in new EU startups.

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