Tender SK50 with fresh capital for start-ups announced

Day 29. July 2014

The Slovene Enterprise Fund has collaborated with the Ministry of Economic Development and Technology and the Initiative Start:up Slovenia to publish the tender SK50 for obtaining a 50 thousand € convertible loan. Together with the tender SK200 for the 200 € equity investment that will be published at the end of July this year, 2.4 million Euros will be available for the launch and global breakthrough of Slovenian start-up companies. Besides the fresh capital, two new Slovenian start-up accelerators have been set-up, namely the Start:up Geek House (SGH) and Go:Global Slovenia (GG). Both have an intense educational, mentoring and promotional programme comparable to those of the best global accelerators.

The Slovene Enterprise Fund and the Initiative Start:up Slovenia have noted a lack of capital in the seed phase and consequently massive departures of start-up companies to abroad. Fast global growth of innovative companies is very demanding when it comes to capital and thus the new soon-available resources will fill a gap in financing, especially in the seed where the companies are not yet mature enough for neither venture capital funds nor credit loans.

The best start-up mentors

All investment recipients will participate in an intense educational, mentoring and promotional programme that we will carry out in collaboration with the best providers from Slovenia and abroad (CEED Slovenia, Hekovnik, 30Lean etc.), private investors and mentors. The best Slovenian start-up entrepreneurs will participate in both programmes as mentors, such as Miha Mikek, Andraž Tori, Andraž Logar, Davorin Gabrovec, Aleš Špetič, Gregor Rebolj, Jugoslav Petkovič and others.

Quickly confirming the idea on the market

The tender SK50, within which the companies will contend for a convertible loan in the amount of 50 thousand €, is meant for start-up companies in the pure seed phase or the phase of the business idea development. The accompanying programme will focus on developing companies by following the so-called lean methodologies, which will lead them to confirming the value of the innovative idea on the market. The entire content of the programme will take place within the Start:up Geek House start-up accelerator. 

Fast global growth and professional organisation of the company

The second tender, SK200, which will be announced at the end of July this year, is intended for companies that have already proven their market value hypothesis or already have customers for their innovative product, but at the same time need additional capital for fast global growth. An equity investment of 200 thousand € will be at their disposal and the fund will carry it out directly as an investor under the condition that a private investor also enters the company. Those companies will also participate in an intense educational and mentoring programme of the start-up accelerator Go:Global Slovenia. The latter will focus on helping entrepreneurs professionally organise their company and expand to markets abroad. As part of the programme, we will also help companies get a potential new round of investments from national and international venture capital funds. 

Up to 324 thousand € of capital for one company

Together with the already-existing product P2, with which the Slovene Enterprise Fund is giving start-up grants in the amount of up to 74 thousand euros for the first three years of a start-up’s business, each Slovenian innovative start-up company will have up to 324 thousand € of seed capital at its disposal.
Izvedba: Mojdenar IT d.o.o.