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Every startup has its own unique journey. However, there are a few common struggles that all founders go through. The most significant being…the pursuit of product-market fit. It is a hot topic for entrepreneurs and investors alike, it is widely spoken about, numerous guides, articles, and resources on the topic online. But the truth is, there is no universal strategy and very few truly understand or have nailed this complex concept.
The earliest stage of the company is where we add the most value to the founders. When things are unclear, when you have doubts, when very few will commit to your vision, when all you’ve got is a scrappy alpha version of your product. This is why we built the second edition of our Eleven Alpha program with one specific goal – to move you closer to attaining product-market fit. Of course, keeping in mind (and reminding you, too) that it is an ongoing moving target, not a one-time event.
If you missed our first edition, Alpha is an investment from Eleven combined with a three-month program geared towards outstanding entrepreneurs in the early days of their endeavors. The program serves as your entry to the world of Eleven. Together we work on your personalized product-market fit roadmap. You get access to our company-building expertise, wide network, and community of peers.
Today we launch Eleven Alpha
Alpha is simple, yet rich. There are three important aspects to have in mind:
1. We promise two months from application to closing – we know how frustrating and lengthy fundraising can be. Eleven Alpha has a simple, fast and founder-friendly process from application to getting the money in your bank account. This means that you can focus on what is important to you – actually building your company.
2. Your tailored product-market fit roadmap – in Alpha we have crafted three months, where together we will be building your game plan for the next stage. You will get personalized support from our platform team, and access to all company-building knowhow and resources of Eleven. Based on your needs, we will lead you through a variety of PMF elements and processes like getting to know your customers better, understanding their pains, needs and jobs to be done. You will be refining your value proposition, building your product with the customer in mind, crafting the business model, and establishing the fundamentals for growth.
3. The “unicorn” deal – as part of Alpha, we make a €300K investment in your company for 10% equity. The conditions are fixed and similar to our initial investment in Payhawk (our first unicorn). The term sheet is public – check it out.
Let’s do this!
Building a startup is a long ride filled with uncertainties and challenges. But with the right guidance, support, and a strong foundation, you can navigate through the early stages of your entrepreneurial journey and set your startup up for long-term growth. We are excited to build the future together and we want to be your earliest partner in crime.
Learn more and apply to Eleven Alpha.
Applications close on March 7.
