Startup Wise Guys, the Tallinn-based incubator that's playing off the #estonianmafia or #balticmafia hashtag, has welcomed new teams to the incubator this week, and have announced that 10 out of their 15 pervious startups have or are closing follow-on funding, coming to a total of "well over" €1 million raised. More funding appears to be coming from the Estonian Development Fund's investment arm, SmartCap, who has committed €1 million to Wise Guys alumni. SWG was founded in 2012 with help an initial investment from the Estonian Development Fund.
Of their past companies, Dutch video discovery app WappZapp recently raised €650,000 from Sanoma Ventures. They say that from the second batch, one team has raised $100,000, another an undisclosed round and 70% of the companies are already generating revenue. With two more teams in late-stage investment talks, new announcements may be on the way.
Looking to get initiated into the #EstonianMafia? The Tallinn, Estonia accelerator, Startup Wiseguys, has now announced they are accepting applications to their Autumn 2013 batch. For those of you unfamiliar with the program, they run the pretty standard 3 month acceleration with €15,000 seed funding, and seem to run a pretty interesting program. So if you're trying to expand internationally or still figuring out that product-market fit, you can find the application on the Startup Wise Guys website.
The Startup Wise Guys: Part II is now in production. The Tallinn-based accelerator has taken in eight teams and is stepping on the gas pedal for the next three months with the help of 80 mentors and the #Estonianmafia. Their Winter '13 batch includes teams from Russia, Estonia, Poland, Finland, Hungary, and Chile, and begun yesterday by talking to alumni, getting a tour of the city, and a welcoming party at Garage48 HUB.
Below you'll find a list of the accepted teams. Company descriptions have been provided by Startup Wise Guys.
We've managed to get to 16 episodes already! This week on Unfair Advantage we talk to Mike Reiner, one of the people behind the Estonian Startup Wise Guys accelerator program. Startup Wise Guys is an early stage accelerator aimed at interesting companies who want to tap into the potential of Scandinavia as well as Russia from Estonia. The accelerator announced their first batch of companies a while ago and they're coming from all over Europe. We talk to Mike about the program, how many applications they received and where they plan to take. Join us for another exciting episode and if you like it - please tell your friends and rate it in iTunes, we appreciate it!
The list of companies accepted to the first Startup Wise Guys accelerator in Tallinn have been released.
Seven eight teams have been accepted, with three from Estonia, and one from Croatia, Ukraine, Germany, The Netherlands, and the UK. Techcrunch reports that the accelerator received over 200 applications. The program will begin the 23rd of April and will end with a Demoday June 30th in Tallinn and July 6th in London.
Here are the teams (plus one startup accepted at the last minute):
ArcticEvening Tallinn was held yesterday in the great premises of Technopolis Ülemiste. Around 100 people gathered to the event to both network and listen to a top notch presentation by William Wolfram of DealDash on startup metrics. Technopolis Ülemiste had also sponsored some snacks and drinks at the venue, which naturally helped break the ice. Wolfram gave a very packed and high quality presentation on how DealDash sees and works with metrics. What made it all the better was the personal experience he was able to share in also where they went wrong.
(Article edited to correct that Wiseguys does take 8% equity)
Hot and fresh out of an event in Riga is a new Tallinn based accelerator: Startup Wise Guys. The accelerator is built in the modified Y Combinator model with a similar setup to Startup Sauna in Finland. Getting accelerated involves a 13 week program, demo day in Tallinn and London, and €5000 of funding per founder for 8% of equity. To build some hype, Wise Guys is also offering €500 for any startup referral that makes it into the program (this is my get rich quick scheme-- you heard it here first). The application process is open from 9th of February until 11th of March and the program starts on 25th of April.