By Ivaylo Simov

In a nutshell: We are shifting gears. We’ll invest more time and money in fewer companies.

The start of Eleven’s 11th application window marks a new beginning for us. We invested about EUR 12m in 115 companies during the last 3 years. We’ll invest about EUR 15m more in the next couple of years, but mostly in the top performers of our existing portfolio and only about 15 new companies per year.

We are significantly increasing our investment limit from the current EUR 200k to EUR 1m per company, although still, our sweet spot shall remain to be the first investor, starting small (usually up to EUR 50k initially) and participating in follow-on rounds with incremental amounts.

Unlike our (mostly) seasonal approach so far, we are moving towards a rolling application - i.e. we’ll invest in projects on an ad hoc basis, although we’ll focus our sourcing of new projects and selection efforts every couple of months with the nearest deadline being April 30th this year.

Each startup is unique and therefore we are abandoning our standard 3-month program and shifting towards lifelong learning for our startups, focused on bursts on different topics throughout the year and individual approach towards each company that joins us.

Unlike most top accelerators that start slowly and tend to increase the number of investments they make each year, we managed to invest quickly from the start and thus built a vibrant #oneof11 community. Now that we have amassed amazing human capital around us, we are opting to decrease the number of new investments we make, and focus on adding maximum value to our stars.

We deem all of the above good news for the more promising startups in the region. If you feel you are one of them, apply now.