London’s 01 Ventures is appealing for early-stage B2B startups to join its first accelerator programme.
The companies must be pre-Series A, having received less than £1m in funding, and typically under three years old.
01 Ventures will help these startups to rapidly develop their products and businesses so they can raise their first large investment round, all without taking any equity or fees.
But the new investor and accelerator requests that startups enable it to join their next funding round, on a non-exclusive basis.
“When designing the programme, we drew on our experience and understanding of startups in this position, and decided this was the fairest deal for everyone; the founders, their existing investors and us,” said Eeswaran Navaratnam, managing partner and founder.
“We wanted to bring together the best support, advice, and funding available to Europe’s top startups. We see a gap in the London ecosystem both in terms of funding and support in this space.”
The team is bringing together 20 “high-caliber” mentors to support the companies, already including James Durrant, who currently works in Africa on UKTI-backed Mamba Mentors, former UBS group CTO Correy Voo and serial entrepreneur Andrew Brush.
Applications to join the first six-month cohort in September 2015 close on 15 July, with 01 aiming to raise a fund to invest in these businesses by the end of the period.
The accelerator will be based at a yet-to-be-named coworking space in Kings Cross.