LAUNCHub from Sofia Seeks to Invest €30,000 Per Team in a Dozen Startups - Netokracija CEE

LAUNCHub from Sofia Seeks to Invest €30,000 Per Team in a Dozen Startups

LAUNCHub, the 9 million Euro seed and acceleration fund from Bulgaria, has opened applications for the LAUNCHub accelerator for Spring 2013. in which startups get 30,000 Euros. This will be their second batch of startups that came predominantly from Bulgaria, while Cinematic and Habbits were in fact - Croatian. Netocratic talked to both Managing partner Lyuben Belov and one of their startup founders, Stevica Kuharski, CEO of Habbits.

LAUNCHub

LAUNCHub, the 9 million Euro seed and acceleration fund from Bulgaria, has opened applications for the LAUNCHub accelerator for Spring 2013. in which startups get €30,000. This will be their second batch of startups that came predominantly from Bulgaria, while Cinematic and Habbits were in fact – Croatian. Netocratic talked to both Managing partner Lyuben Belov and one of their startup founders, Stevica Kuharski, CEO of Habbits.

Launching with LAUNCHub

LAUNCHub itself is focused on investing in the “digital domain” with a strong emphasis on digital media, the consumer internet and ecommerce. They would love to in fact invest in startups that would disrupt the banking, entertainment and education space. The LAUNCHub guys say they can help startups because they are enteprenerus themselves. They believe they can help with access to advisers and capital through both their network and partners. LAUNCHub has partnered with well known seed investment fund and accelerator Seedcamp as well as the Cisco Entepreneur Institute which is based in Bulgaria. Belov described the types of teams they want to apply:

We are very much looking to see a coherent teams with a set of complimentary skills, dedicated to the project and capable to execute. Passionate. Flexible and receptive to feedback but at the same time with strong vision and focus. We are expecting to see traction- either in the composition of the team, product development or customer acquisition.

LAUNCHub can provide a seed investment up to €200,000 with Belov adding:

We as fund are focused on our SEED component and the startup is more likely to get additional financing once the product is launched and gets more traction.

Habbits’ Stevica Kuharski in Sofia.

For their part, Habbits’ Stevica Kuharski believes an early stage company that already has some revenue but cannot support fast growth should apply for an investment. Kuharski describes what he has found with his investor, LAUNCHub:

Altho boostrapping might seem appropriate for, investment from the right investor is not just about the money. It’s about the experience of the management team, connections and potential clients that might be connected with investor.Great management team (Lyuben and Todor), great portfolio managers (Rumen and Stanislav) and excellent network around them.

Kuharski says that the experience of just participating in LAUNCHub’s 4-day Long Weekend in Sofia opened his eyes. I asked him to give some suggestions to startups applying not just to LAUNCHub but also any startup accelerator or contest:

Don’t wait for the last two days. Those 20-30 questions need to be answered with facts helping the jury to see all your qualities within first few seconds. Imagine 300+ applications. And imagine all those things everybody is writing. You wanted to write that as well, right? Well, don’t. Be honest and write astonishing application. Let the jury see that you are really the best team in the batch. And read your application 20 times before you will send it. Don’t have tpyos. Like me. 🙂 The most important thing in your project is your team, so make sure you will stress that out. Show the jury that you are experienced and that your project is your life!

You can find out more about LAUNCHub on their official website. Teams can expect mentoring and €30,000 for 8-10 percent equity. The application deadline is January 6th and you can apply on LAUNCHub’s website.

Comments

  1. Ilija Stjepic

    Ilija Stjepic

    28. 12. 2013. in 12:11 pm Reply

    I hired Stevica to code our Fojo app, all he has done in nine months was lying and stealing open source filters and presenting them as his work.

    https://itunes.apple.com/app/fojo/id687718945

    After I ended cooperation he gave me source code without telling me that it is not his work and charged it (even renamed all folders to look like his work). When we figured out what he has done and told him that we could get sued for his theft then he lied to the developer whose code he has stolen to get the permission to use the open source filters I have paid to him.
    He is really brilliant!

    Ilija Stjepic,
    founder of http://www.fojo.me

Leave a Reply

Your email address will not be published.

Popular

Startups

John Biggs at TechCrunch Balkans in Sofia: There is a Way Out of This Media Black Hole!

The first TechCrunch Balkans meetup in Sofia begun with a loud whistle from Dilyan Dimitrov, founder of the Bulgarian accelerator Eleven, the host of this event. It was startup time! That is right, TechCrunch Balkans, organized by Netocratic, is being held throughout this week – we will have lectures, panels and the most important thing – pitches in front of John Biggs!

Startups

Combine Technical And Marketing Knowledge Within Your Startup Team

You've probably heard about Bellabeat, FlyKly, or Layer? Well, three years ago they didn't exist! Now they are at the top of their industries, but how did they do it? Was it enough only to have the right idea or did they also need to have knowledge to conduct business in today’s competitive environment? Specifically, what kind of knowledge do startups need to succeed and not repeat the many mistakes of the 90% of startups that fail?

Startups

Slovenian ‘Booze’ Startup Flaviar Raises 400.000 $ from Speedinvest!

Slovene-British startup Flaviar announced today that it raised a seed round of 400k $ from American fund Speedinvest. This one year old company ships monthly tasting packs of 5 sample spirits (whisky, rum, gin, vodka, etc.) to their members, each month with a different theme.

What you missed

Startups

Blockchain from the Bloc(k): Listen to the 1st podcast dedicated to Balkan blockchain scene (by æternity and Netokracija)

We are delighted to present you Blockchain from the Bloc(k), the first podcast about Balkan's blockchain scene by Netokracija and æternity Ventures, asset management company investing in Blockchain startups.

Tech

We found out what’s happening in the Rimac Automobili office in Osijek

Rimac Automobili’s expansion is in full swing. After the opening of a development office in Split, a similar one has opened in Slavonia, or in Osijek’s Esseker center to be exact. To see the story behind the new office and the things being developed inside it, I’ve decided to simply – visit. My host was […]

Enterprise

6 Important Areas Often Overlooked by Product Leaders

Attending Product Management Festival 2017 (PMF 2017) in Zurich, Switzerland, and meeting amazing product professionals inspired me to go deeper into six important areas that are often neglected or entirely overlooked by product leaders.

Enterprise

The Latest Mind Innovations in Product Management

Announcing the 2-day conference showcasing top notch topics in product management.

Startups

US Outbrain acquires Slovenian Zemanta

At their 10th anniversary, the Slovenian high-tech company Zemanta d.o.o. announced that it was entirely acquired by Outbrain from the US, the world’s largest premium content discovery platform. The sum that Outbrain paid for Zemanta’s technology, products and team remains a business secret, and Zemanta’s co-founders Andraž Tori and Boštjan Špetič will join Outbrain. After becoming part of Outbrain Zemanta’s platform will continue to operate as a standalone product.

Tech

‘Fintech’ companies currently ought to buckle down and do what they do best – write code

Novathon #withPBZ is getting closer. This 24 hour-long brainstorming, coding and design event will attract designers, developers, students and others interested in creating a banking app, and the winning team will go home with as much as €10,000. Besides the mentors, the teams will be motivated by the financial expert Chris Skinner, to whom we had the opportunity to talk about the state of the financial technology industry.