Eleven Alpha is for outstanding entrepreneurs in the early days of their endeavors. You will get personalized one-on-one support through our company-building expertise and a community of peers will always have your back.
We know what is important - growing and scaling your company. That's why we designed a simple and fast process allowing you to move forward from day one.
Applications are now closed.
Stay tuned for the new edition.
Are you a Builder?
Eleven Alpha is geared towards commited founders at a pre-seed stage who are currently working on their idea, product and company.
In some cases, this means coming to us with just a bold idea like the founders of Dronamics. In other cases with a rough prototype and a few paying customers like our first unicorn Payhawk.
From Alpha to Beta
Together we will develop your tailored Product-Market fit roadmap.
01. Discover
- Get to know your customers better and talk to them.
- Understand their pains, needs and jobs to be done.
- Set the foundations of building your company.
02. Design
- Define the value you bring to your customers.
- Learn to build a product your clients want.
- Design your business model and learn how to modify it.
- Test and validate your hypothesis.
- Establish a brand and comm. which resonate with your clients.
03. Deliver
- Build your go-to-market strategy.
- Start selling.
- Establish the fundamentals for growth.
- Prepare the ins and outs of your fundraising strategy.
Frequently Asked Questions
1. What are the terms?
Eleven will invest a fixed amount of €300,000 for 10% stake in the participating companies at the start of the program. We call this the “Unicorn deal” as we invested on similar terms as a first institutional investor in Payhawk.
The term sheet is publicly available here.
2. What is the timeline of Eleven Alpha?
- March 7 – Application closes;
- by April 1 – We will reach out to all applicants;
- April 19 – Final investment decision;
- May 2024 to October 2024 – Core program activities.
We are reviewing applications on a rolling basis not waiting until March 7. The sooner you submit your application, the sooner you’ll hear from us.
3. What is the difference between my application for Eleven Alpha and your standard investment track?
Unlike our standard investment track with Alpha you have a structured program which you go through and a fixed investment deal of €300,000 for 10% equity.
4. Is the program offline or online?
The program is a mix of on-site and online sessions. On-site sessions will be held in Sofia, Bulgaria, online ones via Zoom.
5. Are there any geographic or industry limitations for the application?
We are generally investing in Central and Eastern Europe, but we are open to companies from all over Europe.
Industry-wise our strength is in Fintech, Healthcare, Future of Work, Sustainable Food, although Alpha is open to startups in all domains.
6. What happens after the program ends?
The program is just the beginning of your journey with Eleven. After the end of the 3 months we continue working with your team and supporting your growth as we do with every other #Oneof11 company. We have significant follow-on investment capacity (up to several million EUR per project) and we shall continue to invest in the best companies that graduate from Eleven Alpha.
7. Can other investors join the round?
Yes, actually most of our deals at a similar stage usually involve angel investors as well. However you should note that our deal is fixed, so in essence the post-money valuation is also fixed. If you choose to invite other investors, this means that your pre-money valuation will go slightly down.
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