EGI Booster, one of the very few e-commerce startup accelerators on the global tech scene, is inviting startups to participate in its first session, which will start in May 2017. Applications are open until April 30.
Startups from anywhere in the world are eligible, but EGI Booster has a strong interest in startups from Eastern Europe,which usually demonstrate a high level of technical expertise.
Who is eligible?
This vertical acceleration program targets exclusively SaaS e-commerce solutions. Any startup, regardless of its geographic location, is eligible as long as it meets the following requirements:
- Company inception since 2014
- Total staff below 15 employees
- Founders dedicate 100% of their time to the company
- Customer base composed of retailers, pure players, brands, e-tourism from at least three different market segments
- Customer turnover exceeding €5 million
How does it work?
Three batches of startups will be carefully selected, each one lasting six months. The first three months are dedicated to the startup scanning process; then the startups enter the acceleration program as such.
In total, nine fast-growing startups will be accelerated during a period of 18 month.
During this program, 60 experts specialized in growth/sales hacking, international sales, SaaS technology as well as fundraising, will share their know-how with startups.
The participating startups will also receive:
- Up to €20,000 in funding in order to invest in product/service development
- €20,000 in services such as lead generation, sales development, PRs, pre-arranged 1 to 1 meetings
- €170,000 of benefits in the form of technical services provided by Amazon WebServices, Microsoft BizSpark, IBM Global Entrepreneur, Kompyte Sendgrid.
After the program, startups will benefit from support to raise funding and expand internationally. EGI has an extended network of partners and experts across the world, including the USA, Latin America, Japan, China, UK, Germany, France, Italy, Poland and Nordic countries.
The accelerator will hold a 7 to 12 % stake in each accelerated company
Call to investors
Investors interested in SaaS e-commerce startups may contribute funding (min. €50,000) to the program. The accelerator aims to raise up to €450,000, accounting for 70% of the total funding made available to startups. For more information please contact editor[at]ewdn.com.
