The startups selected receive funding of EUR300,000 for 10% equity.
The participants in this program also get a tailored business plan and access to company know-how and the community built around the brand.
The application process consists of an application form (a pitch deck is needed), a meeting with Eleven’s investment team and eventually a meeting with the selection committee provided the startup successfully passes the preliminary screening.
Eleven Ventures wants to be the earliest partner for the aspiring entrepreneurs. Eleven Alpha is geared towards committed founders at a pre-seed stage who are currently working on their idea, product and company. This could mean having just a bold idea and a rough prototype or a few paying customers. Eleven has four priority verticals: Fintech, Healthcare, Future of Work and Future of Food, but the entrepreneurs focused on other fields may also apply.
In Romania, Eleven Ventures has invested in Frisbo, Flaminjoy (ex ProductLead) and SuperOkay.