Estonia's Startup Wise Guys announce €1M alumni investment
Good news for the graduates of Startup Wise Guys.
The accelerator, based in Tallinn, Estonia, has just signed a deal with VC firm SmartCap to invest €1 million in graduates who maintain a local presence.
SmartCap will invest 50% and act as the primary investor. The remainder will come from other private and unnamed investors.
The announcement comes as Startup Wise Guys is preparing for its second cohort.
The accelerator is looking for ten startups for the 12-week program which begins in January 2013. Each of the startups will get up to €15,000 in exchange for 8% equity. The program ends with a Demo Day in Tallinn and London.
Applications for the second cohort are due November 4th.
For more on Startup Wise Guys, or to apply, go to: startupwiseguys.com