The seed investment of 200 000 EUR is provided by Plamen Russev (chairman of Webit.Foundation, investor and serial entrepreneur) and prominent Bulgarian entrepreneurs and angel investors including the founder of Telerik (USD 264 million company exit) Vassil Terziev, The founder of Rosslin Capital, investors and serial entrepreneur Ivo Evgeniev and the founder of Telelink and sucessful entrepreneur Lyubomir Minchev.
Тhe form in which the seed investment will be paid out is a convertible loan. The loan will convert into shares of preferred stock upon the closing of a next equity financing (Series A round of financing) at market terms for such an instrument.
There will be 2 tranches. The first tranche of 50 000 EUR will be transferred within a month after winning Webit’s Founders Games.
The second tranche will be released upon achieving certain milestones negotiated between the investors and the winner.
The investment offer is non-obligatory for the startup winner of Webit's Founders Games and subject to standard due diligence processes on behalf of the investors.
As far as your company is active in the following disciplines:
& Big Data
internet & IoT
WEBIT.FESTIVAL is to provide startups with a free expo table and 600 free expo tickets.
The startups who qualify shall have access to all attendees of the WEBIT.FESTIVAL - the major and most influential tech and digital global event for CE Europe.
The selection is made on 5 major milestones:
- Team capacity - 10 points
- Project Scalability - 10 points
- Business approach - 10 points
- Marketing approach - 10 points
- Uniqueness of the idea - 10 points
WEBIT.FESTIVAL is the only place where startups meet investors, reporters, the CEOs, CMOs and CTOs of the world's largest and most innovative companies along with the biggest global and regional advertisers. Only at WEBIT.FESTIVAL your startup will have access not only to hundreds of investors but also to major potential partners and clients making WEBIT.FESTIVAL the most StartUp friendly digital and tech industry event.
Hundreds of accredited journalists from all over the world will be present during WEBIT.FESTIVAL, searching for the next great startup. At the event you may meet and connect with editors in chief, editors and correspondents from Wall Street Journal, Mashable, The Next Web, Wired, Bloomberg, Guardian, TechCrunch, e27, Wamda, ITP, Forbes, CNN, The New York Times, Business Insider, The Economist and many more.
2425 startups have applied for this edition. Less than 5% are among the selected.
The selected startups are divided in 3 groups:
Pre-Seed (no investment yet)
Pos-Seed (up to 1 mil investment)
ScaleUps (above 1 mil investment)