Tallinn based tech accelerator Startup Wise Guys announced that they have struck a deal with a venture investor SmartCap. SmartCap is an Estonian based venture capital fund management company and they have commited to invest 1 MEUR into Startup Wise Guys alumni companies with local presence.
Startup Wise Guys is an international startup accelerator located in Tallinn. It’s focused mainly on technology startups. Twice a year Startup Wise Guys accepts up to 10 teams to participate in a 12-week intensive development program. SmartCap invests along with independent co-investors on a 50-50% basis and often takes a role of the lead investor in this context.
Wise Guys lead investor Herty Tammo commented: “Our application round for the next batch is now open and we are excited to announce this deal before starting our second program. Seed investments are critical for the growth of tech startups after the accelerator program and SmartCap’s support helps a lot. Every accelerator claims to be the best, but the question is what are you looking for – money, networking or something extra?”
Startup Wise Guys started their first round this spring with 240 applications, they have about 80 mentors who are actively involved and share a large mentor support network via Accelerator partners such as Springboard London and Ignite100. 15 angel investors together with the Estonian Development Fund finance the program and support the chosen teams from all over the world. In short, Startup Wise Guys provides seed funding and an intense mentorship program to early stage technology startups. They finish with an investor day in Tallinn and London.
Elise Sass from the Wise Guys says: “We want to offer something special. Next to a high quality mentor network and hard work we aim to create a unique experience for the teams. With the next batch we definitely want to walk over the hot ashes and make our teams swim in ice water after hot sauna. With the trips to Silicon Valley we are creating follow ups for our teams and help them with an access to new markets.”
Martin, from Wise Guys Alumni, thinks: “When I Googled Estonia I imagined people sitting with their laptops in the forest to come up with businesses like Skype, Fortumo, TransferWise, ZeroTurnAround or Pipedrive. Wireless was supposed to be everywhere and Tallinn seemed like a cute town. I never imagined such vast startup culture and drive to succeed. That`s what Dave McClure called the #EstonianMafia. Where 6-year old kids start to learn coding on iPad. It was an amazing experience.”
Startups benefit from mentors with broad experience and wide background. Countless sessions to reshape your businessmodel, focus on revenue and traction, marketing/sales, how to approach investors and pitching your business anywhere without thinking.