Startup Wise Guys partner up with UK fund
In order to support your startups in the best way possible, it seems you have got to be a teamplayer. So, Estonian accelerator Startup Wise Guys decided to partner with UK-based fund Notion Capital to be able to provide a helpful environment for their fall 2014 batch. Notion Captial will support the selected startups with a minimum of 50.000 euros.
Tallin-based accelerators’ upcoming programme will be all about services with a B2B approach. Since Notion Capital also focuses on this branch the cooperation makes sense on more than one level. “Due to a similar investment focus and culture both parties started exploring synergies. […] Notion Capital and SWG’s BusinessTech share a focus on startups leveraging Cloud Computing and Software-as-a-Service for the enterprise. Our relative positioning in the startup’s lifecycle, make this a perfect match for guiding the most promising early-stage startups to growing, funded businesses,” Calum Cameron, responsible for partners and mentors at Startup Wise Guys, explained to inventures.eu.
While the cooperation is based on mutual interests, they also work together regarding financial and other support for their startups. The Estonian accelerator gets its teams started with a capital of up to 15.000 euros in return for eight per cent equity. Notion Capital, on the other hand, will provide at least 50.000 euros for the teams of the selected batch and will give them access to the coworking space and networks in London.
London connection beneficial for startups
“The BusinessTech programme accelerates the most promising [startups] through validation, build, and customer acquisition to preparedness for launch and growth. Notion Capital provides selected teams the platform – runway, expert advice and access,” Cameron explained.
Startup Wise Guys has emerged in 2012 and selected 24 teams in three accelerating rounds so far. Regarding their upcoming batch they decided for a B2B focus. Through the partnership various possibilities to develop further shall be offered to the startups. “The close involvement of Notion Capital during the program and also the follow up network in London will be extremely beneficial for the startup founders,” Cameron feels certain. SWG’s accelerating program is a three plus one month activity that focuses on mentoring and workshops with a pool of over 100 experts. The optional follow-up month in Tallinn will focus on transition to target markets and getting in contact with investors.