Baltic, Financial Services, Innovations, Investments, Technology, USA
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Friday, 26.04.2024, 11:55
StartersHub early-stage VC will provide CEE startups with access to global expansion and quick funding
Unlike other funds or grants StartersHub provides
companies with a mentoring process that includes business optimization and
vital managerial guidance for startups. Geography of future investments
includes all countries in CEE, with the most focus on Baltic area, Poland,
Hungary, Romania, Ukraine, Russia and Greece.
Arda Aşkin, managing director at StartersHub,
explained: “Despite the fact that a record EUR 0.7 bn was invested in CEE
startups in 2018, there is still a predetermined gap between pre-seed and seed
funding that yet detain a potential the market has. We address this issue by
offering a beneficial investment model - it implies quick tranche investment
along with the mentoring. It lasts for 2-3 months and includes business
optimization, legal & financial assistance and networking support. This
kind of full and consistent mentoring is highly needed and is really missing
now in the whole CEE startup ecosystem.”
StartersHub was founded in 2015 and for the first 4 years it
has partnered with Startupbootcamp in Istanbul and San Francisco - one of the
leading accelerators in the world. Today StartersHub portfolio counts over
60 startups from all over the globe with a total valuation of more than USD 250
mln. Among successful startups who have grown with StartersHub are Turkish
collaboration app for designers and developers Zeplin, mindfulness app
Meditopia from Berlin and cloud-computing startup Sixa. Zeplin and Sixa are
both graduates from Y Combinator.
To insculp great tech startups, StartersHub emphasizes its
focus on a mentoring phase. It includes safe USD 25K to USD 50K investment and allows
startups to optimize business processes, polish both their product during 2-3
months period. In this process, StartersHub helps startup spot the gaps to
clear the path for future growth. After successfully accomplished stage,
startups might receive further investment in the amount of up to USD 250K.
StartersHub is also an Amazon Credit partner, meaning that every company the
fund invests in can receive USD 100k AWS services credit.
“CEE region is booming with over one million developers. The
market proliferates with tech solutions where fintech enterprise software and
SaaS are the leading categories. In this era of expansion opportunities we are
planning to increase our scope around CEE to promote business growth for
uprising innovative startups of the region. Globally engaged mentor network
together with StartersHub team in San Francisco allows to boost financial
growth and promotes global expansion for CEE startups.” - added Arda Aşkin,
Managing Director of StartersHub.
StartersHub is a vertically agnostic fund - it aims at
fueling tech startups that will have a real impact on the chosen market and
disrupt the industry where they operate. StartersHub also assists companies to
scale globally and land at international markets with main focus on the USA.
During the last 3 months StartersHub has invested in Latvian startup Asya.ai - an app for mindful conversation powered by Ethical AI and Romanian online video editing tool Flixier. By the end of this year micro VC aims to finalize 3 more investments coming from Eastern Europe and local accelerators to mutually discover potential entrepreneurs in the region in 2020.
StartersHub is a US&Turkey
based early-stage micro VC focusing on investing in Eastern Europe and Turkey.
StartersHub mission is to assist promising projects with scalable solution that
will have a real impact on the chosen market and disrupt the industry where
they operate. In its turn, StartersHub offers startups financial, legal and
tailor-made mentoring assistance that will help them scale globally and land in
the USA.