Seedcamp is going to Berlin now (sorry, Paris!)
Seedcamp, the European accelerator, just announced that it will add Berlin as a major location for its activities: “London and Berlin have manifested themselves as the leading local startup ecosystems in Europe. Berlin is thriving as the creative capital of a new startup generation with great ambitions.”
“This is why we will hold Seedcamp events in London and Berlin. This is where we will invest in new companies, bring together our community of mentors, and hold demo days for active investors looking to invest in Seedcamp teams. ”
Seedcamp Berlin’s HQ looks like it might end up at the Factory (we’ll check):
UPDATE Asked whether the Factory would shelter Seedcamp Berlin, Jenny Jung of The Factory told us that “we’re good friends with Seedcamp, and we provide office space to friends when they need it”.
Seedcamp is a huge accelerator program: since launching in 2007, it says it funded 88 companies across 33 countries who have since gone on to raise $90M in funding. At this very moment, Seedcamp London 2013 is going on (you can check the participating startups here).
Apart from Berlin as a main hub, Seedcamp will also organise Seed Minicamps in 20 to 30 cities, among others: Tel Aviv, Dublin, Sofia, Krakow, Copenhagen, Amsterdam, Zurich, Vienna, Barcelona, Moscow, and Ljubljana.
The list of Seedcamp destinations also includes Amman, Jordan - the first Seedcamp hub in the Middle East after Tel Aviv, Israel. The Middle East is expected to heat up considerably as a hotspot, with web giants like Twitter already moving in.
I wonder if Seedcamp will add Paris to the list of main hubs later - Google also invested in Berlin’s Factory first and followed up with an investment in Paris. A ranking by Startup Genome ranked Paris higher as a startup hub than Berlin, after all. And interestingly, Seedcamp 2013 only has 1 Berlin startup versus 2 from Paris.
(Yes, I know: variance).
New investment options
Until now, founders received € 50 000 of seed funding in return for 8 to 10 % of equity in the Seedcamp teams. From now on, teams can choose one of three options.
- € 50k for 8 to 10 % (“we believe this amount helps founders reach momentum fastest”)
- € 25k for 5 % (“for companies that already have some funding”)
- € 0 for 3 %, but teams can fully participate in the accelerator, it’s “for companies that are generating cash or have external funding”. These teams also get a € 5000 stipend for travel costs.
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