To be a serious startup accelerator these days, it seems you’ve got to have some sort of partnership to capital. Tallinn’s Startup Wise Guys, playing a central accelerator in the Estonian Mafia startup scene, has now partnered with Notion Capital, a UK based fund, to provide some follow-on funding to the accelerator’s best teams and to help them get set up in the UK market.
Startup Wise Guys is taking at B2B approach for the next group of startups, branding their Fall ’14 batch on BusinessTech. Their partnership with Notion Capital makes sense, as the firm focuses on B2B SaaS technology companies, typically in the Series A stage.
“Not only does Notion Capital focus on B2B companies, but this will help transition our startups into new markets. It’s important for startups to receive as much support as possible after an accelerator and this agreement with Notion Capital goes beyond the money,” say Mike Reiner and Herty Tammo, co-founders of SWG in a statement.
Looking more closely at the numbers, Startup Wise Guys provides €5,000 per founder as they join the accelerator in return for 8% equity. At the end of the 3+1 month long program, Notion will provide “at least €50,000 for the best teams” and pledge to plug these teams into the Notion house co-working space in London. Startup Wise Guys will also match Notion Capital’s funding with an additional €50k and SWG aims to invest several €50k follow on tickets for selected teams.
For you business tech companies out there, you’ve got to hustle to apply – their extended deadline closes tomorrow, June 3.
Startup Wiseguys has funded 24 companies since they opened doors in 2012 and its interesting to see that they’re taking more of a tight approach with the focus on B2B companies this fall. With Gamefounders also located in Tallinn, the city is now home to single-purpose accelerators, rather than the general purpose hardware-to-social-media accelerators you see around the region.