SmartCap and SWG accelerator agreed a 1M EUR deal for alumni
October 08, 2012The Tallinn based tech accelerator Startup Wise Guys opened its new batch with a deal with a venture investor SmartCap that commits 1 MEUR to be invested into Startup Wise Guys alumni companies with local presence.
Wise Guys Lead Investor Herty Tammo said, “Our application round for the next batch is now open and we are excited to announce this deal before starting our second program. Seed investments are critical for the growth of tech startups after the accelerator program and SmartCap’s support helps a lot.”
Heidi Kakko, CEO of SmartCap confirms that it’s crucial to invest in best startups after the program to accelerate their growth and attract additional investment. Kakko confirmed, “We invest smart money with the network and management support that helps Estonian-based startups to target international market. We believe in teams with a solid goal and unique competitive advantage”.
Startup Wise Guys started its first round this spring with 240 applications, they share a large mentor support network via Accelerator partners such as Springboard London and Ignite100, having about 80 mentors actively involved. Fifteen angel investors together with the Estonian Development Fund finance the program and support the chosen teams from all over the world. In short, Startup Wise Guys provides seed funding and an intense mentorship program to early stage technology startups. The intensive program ends with an investor day in Tallinn and London.
Startup Wise Guys claim, “We want to offer something special. Next to a high quality mentor network and hard work we aim to create a unique experience for the teams. With the next batch we definitely want to walk over the hot ashes and make our teams swim in ice water after hot sauna. With the trips to Silicon Valley we are creating follow ups for our teams and help them with an access to new markets.”
Stan, Startup Wise Guys Alumnus, adds, “When I Googled Estonia, I imagined people sitting with their laptops in the forest to come up with businesses like Skype, Fortumo, TransferWise, ZeroTurnAround or Pipedrive. Wireless was supposed to be everywhere and Tallinn seemed like a cute town. I never imagined such vast startup culture and drive to succeed. That`s what Dave McClure called the #EstonianMafia. Where 6-year old kids start to learn coding on iPad. It was an amazing experience.”
Startups benefit from mentors with broad experience and wide background. Countless sessions to reshape your business model, focus on revenue and traction, marketing and sales, how to approach investors and pitch your business
anywhere. Startup Wise Guys application round is now open! Apply here.
Startup Wise Guys is an international startup accelerator located in Tallinn. It’s focused mainly on technology startups. Twice a year Startup Wise Guys accepts up to 10 teams to participate in a 12-week intensive development program.
AS SmartCap is a venture capital fund management company that acts as an investment arm of the Estonian Development Fund. SmartCap invests together with private co-investors in Estonian innovative seed and startup stage companies.
For further information please contact:
Startup Wise Guys
M: +372 5343 5427
M: +372 5624 9959