Czech seed accelerator for technology companies StartupYard, invites all startups to apply for their program starting March next year. The program includes three months of accelerator program and three months of common office space at TechSquare in Prague. Participants will have an opportunity to work with over 90 mentors for 10 percent equity if the company needs financing up to $10.000!
8 Additional Funding & 1 Acqusition
Rafaj Nicholas, one of the managers at StartupYard told Netocratic:
There are only 250 new startups in the Czech Republic every year. Geeks prefer to work at multinational companies. This is why we support all heroes who begin their own venture.
It is for this reason that StartupYard was created back in August of 2011. In September the same year, they admitted first 7 teams in the program and in that time have been able to help a total of 17 companies, of which 5 are located in Central and Eastern Europe. One company was purchased while 8 succeeded to obtain additional funding.
Two generations successfully went through program and the third generation will consist of 7-10 teams. To enter the program, teams are required to give 5 percent equity to StartupYard, and if they need financing, 10 percent equity is needed for the amount of 10 thousand U.S. dollars.
Nikola states that the Czech Republic has a population of 10.5 million which is known for excellent technology talents, but very few manage to become global entrepreneurs. Therefore, StartupYard is trying to present to global market all the opportunities this part of the Europe has to offer. A large number of mentors who play an important role in the early stage are playing another one besides mentoring. As most of them want to give back to the startup community, they are ready to become angel investors, friends and customers of startups involved in this program.
Also, it is important to note that the StartupYard is a proud member of Global Accelerator Network, a network that is a global champion in the early stages of financing. It gathers 50 of the most respected seed accelerators from around the world. As they say:
The goal is simple: support the top accelerators that grow top companies.
Interested startups can apply for the program through StartupYard’s website no later than tomorrow, January 11th. We note once again that all interested regional startups can apply for this program and are encouraged to do so – good luck!