Top Accelerators by Number of Companies

Eleven is the third most active accelerator by the number of investments in Europe according to our second internal research on the competitive landscape in Europe for 2014.

Seedcamp (est. 2007) and NDRC Launchpad (est. 2010) remain on top of the rankings with the impressive 156 and 150 total investments. Eleven (est. 2012) is in third place followed by NUMA (est. 2011), Gamma Rebels (est. 2012) and Wayra London (est. 2012). If we count multiple locations, Startupbootcamp (187) would surpass last year's winner Wayra (157) and head the list for 2014, but we believe the different cities offer different programs, so that’s why we have listed them separately.

By the end of 2014 Eleven invested in 93 startups, which as Jon Bradford noted at our last Demo Day, means we invest roughly in one startup every 10 days.

Another great achievement for us is that we were ranked in the top 3 principal investors by amount invested in 2014 by the independent European Accelerator Report 2014 by Fundacity.­­

Why investing a lot is important?

Top Cities by Number of Accelerated Startups 2014Many people ask us why the number of investments is important and aren’t exits the ultimate metric to measure an investor’s success. Well, exits are definitely the final goal, but they take between 5-10 years to happen. In the meantime, the way to become a better investor is to constantly invest in new teams and learn from the good and bad investment decisions. By running 3 programs per year we managed to find very fast the right startup-program fit and polish all our processes. Above all, investing in 93 companies by 2014 (107 right now) allowed us to create one of the most vibrant and cohesive startup communities in Europe in practically 3 years. The growth that the Bulgarian startup ecosystem is seeing in the recent years is unprecedented and we are proud to be contributors to it.

Speaking about the Bulgarian startup ecosystem, we are happy that for the second year in a row Sofia continues to rank third by the number of accelerated startups in Europe in 2014, right behind huge hubs such as London and Dublin, and ahead of Paris, Amsterdam and Berlin.

Heatmap of Accelerated Startups by Cities 2014

Heatmap of Accelerated Startups by Cities 2014

Accelerators Standard Investment TermsEuropean Accelerators Standard Investment Terms 2014

European Accelerators Standard Investment Terms

Based on our study the average accelerator deal in Europe is EUR 30,000 for 9%.

It should be also noted that some investors, including Eleven, offer staged deals. Thus Seedcamp’s current deal of EUR 75,000 for 7% is quite comparable with Techstars’ offer of EUR 107,000 for 10% equity. Our average investment is about EUR 80,000 per company.

In addition, several investors including most notably Techstars and Seedcamp have established in-house seed funds and can follow-up their startups in subsequent funding rounds. By design, both Eleven and Launchub can also invest up to EUR 200,000.

We believe more accelerators will follow in the footsteps of the pioneers in the industry and emulate the 500.co model of incremental investments, whereas the line between pre-seed and seed investors will be further blurred. Again, if you look at YC and 500.co, you’ll also notice their ever increasing number of investments each year. One more reason, we think our ranking is pretty relevant.

Research Methods

In order to conduct the research, first of all, we narrowed down the term “accelerator” to organizations, which provide pre-seed investments to startups in return for equity, among all other support that they can provide, usually including structured program and access to mentors.

We managed to identify 69 accelerators based in Europe that match this definition (if we have skipped someone that meets the above criteria, please let us know at teodora[at]11[dot]me). As mentioned for the pan-European accelerators such as Wayra and Startupbootcamp, we have considered each location as a separate accelerator, as each location has a management team and operates in a different setting, not to mention that oftentimes different locations focus on projects in specific verticals.

Once we narrowed our list, we went through the websites of these accelerators and counted the number of startups they have invested. We also noted the standard terms of the initial investments they provide, ie. for Eleven this is EUR 25,000 for 8% equity. If the information wasn’t available on the website, we used data from Crunchbase or AngelList or left it as not available (n/a).

If you look at our findings for 2013, you will see that they seem to be slightly different from the current ones. The reason is that last year we had included some incubator-type of organizations, which either receive equity in exchange for the value of the program but don’t invest, or provide grants and get no equity. We believe this year’s study to be more accurate.

Also, you may notice that our data is somewhat different from the one stated in the Fundacity Report. Again, this is because we count as accelerators only organizations providing money for equity, while other researchers have adopted a broader definition of an accelerator.

Having that said, here's the full list of accelerators we have gone through. Enjoy the numbers and draw your own conclusions.

The European Accelerators List


Accelerator

Location Founded

Total startups by end of 2014

Total startups by  end of 2013 Startups in 2014 Standard Terms EURO

Equity (%)

Seedcamp London 2007 156 111 45

€25,000.00

€25,000.00

5,00%

NDRC Launchpad Dublin 2008 150 106 44 €20,000.00 €20,000.00 n/a
Eleven Sofia 2012 93 57 36 €25,000.00 €25,000.00 8,00%
Le Camping / NUMA Paris 2011 72 48 24 €4,500.00 €4,500.00 3,00%
Gamma Rebels Warsaw 2012 68 24 44 €12,000.00 €12,000.00 10,00%
Wayra London London 2012 65 49 16 £50,000.00 €69,875.00 15,00%
H-Farm Venice 2005 62 44 18 €50,000.00 €50,000.00 10,00%
Techstars London London 2010 62 51 11 $120,000.00 €107,148.00 6,00%
Launchub Sofia 2012 53 35 18 €30,000.00 €30,000.00 10,00%
Startupbootcamp Amsterdam Amsterdam 2012 50 29 21 €15,000.00 €15,000.00 8,00%
Oxygen Accelerator Birmingham 2011 46 24 22 €21,000.00 €21,000.00 8,00%
Axel Springer Plug&Play Berlin 2013 45 15 30 €25,000.00 €25,000.00 5,00%
Plug and Play Tech Center Valencia 2012 45 27 18 €10,000.00 €10,000.00 7,00%
Happy Farm Kyiv 2013 44 n/a n/a $15,000.00 €13,393.50 n/a
Rockstart Amsterdam 2011 39 20 19 €15,000.00 €15,000.00 8,00%
Startupbootcamp Copenhagen Copenhagen 2010 39 30 9 €15,000.00 €15,000.00 8,00%
Bethnal Green Ventures London 2010 39 26 13 £15,000.00 €20,962.50 6,00%
StartupYard Prague 2011 36 30 6 €30,000.00 €30,000.00 10,00%
Orange Fab Paris 2012 34 12 22 $ 20,000.00 €17,858.00 n/a
Ignite 100 Newcastle 2011 34 28 6 £17,000.00 €23,757.50 8,00%
Luiss Enlabs- Startup Factory Rome 2013 33 n/a n/a €30,000.00 €30,000.00 10,00%
Startup Wise Guys Tallinn 2012 33 24 9 €30,000.00 €30,000.00 8,00%
SeedRocket Barcelona 2008 32 27 5 n/a n/a n/a
Startupbootcamp Berlin Berlin 2012 32 21 11 €15,000.00 €15,000.00 8,00%
TopSeedsLab Madrid 2013 31 20 n/a €50,000.00 €50,000.00 15,00%
Startup Reykjavik Reykjavik 2012 30 20 10 $ 16,000.00 €14,286.40 6,00%
Gamefounders Tallinn 2012 28 21 7 €15,000.00 €15,000.00 9,00%
Wayra Madrid Madrid 2011 25 25 0 €50,000.00 €50,000.00 15,00%
ProSiebenSat.1 Munich 2013 25 12 13 €25,000.00 €25,000.00 5,00%
Open Fund Athens 2009 24 8 16 €50,000.00 €50,000.00 10,00%
Propeller Venture Accelerator Dublin 2010 24 19 5 €30,000.00 €30,000.00 7,50%
Buildit Tartu 2013 22 7 15 €25,000.00 €25,000.00 12,00%
Emerge Education London 2013 21 6 15 £15,000.00 €20,962.50 8,00%
Wayra Barcelona Barcelona 2012 21 9 12 €50,000.00 €50,000.00 15,00%
Wayra Dublin Dublin 2012 20 20 0 €50,000.00 €50,000.00 15,00%
Startupbootcamp Eindhoven Eindhoven 2013 20 9 11 €15,000.00 €15,000.00 8,00%
Collider Accelerator London 2013 18 9 9 £50,000.00 €69,875.00 11,00%
Wayra Prague Prague 2013 17 8 9 €50,000.00 €50,000.00 15,00%
Startupbootcamp Dublin Dublin 2012 17 17 0 €15,000.00 €15,000.00 8,00%
Dotforge Accelerator Sheffield 2012 13 6 7 n/a n/a n/a
Farminers Moscow 2011 13 13 0 $150,000.00 €133,935.00 40,00%
B-Ventures Parma 2013 12 6 6 €30,000.00 €30,000.00 10,00%
GrowthUp Kyiv 2010 11 n/a n/a $25,000.00 €22,322.50 5%+
Innovation Nest Krakow 2010 11 n/a n/a $25,000.00 €22,322.50 5,00%
Eastlabs Kyiv 2011 11 9 2 $20,000.00 €17,858.00 15,00%
Barclays Accelerator London 2014 11 0 11 $120,000.00 €107,148.00 6,00%
hub:raum Berlin Berlin 2012 10 9 1 €50,000.00 €50,000.00 10,00%
Startupbootcamp London London 2014 10 0 10 €15,000.00 €15,000.00 8,00%
Startupbootcamp Madrid Madrid 2012 10 10 0 €15,000.00 €15,000.00 8,00%
Wannabiz Odessa 2012 9 7 2 $50,000.00 €44,645.00 15,00%
Wayra Munich Munich 2014 9 0 9 €50,000.00 €50,000.00 15,00%
Startup Highway Vilnius 2011 9 7 2 €25,000.00 €25,000.00 7,50%
Startupbootcamp Istanbul Istanbul 2014 9 0 9 €15,000.00 €15,000.00 8,00%
Industrio Rovereto 2013 8 n/a n/a €25,000.00 €25,000.00 15,00%
Huge Thing Poznan 2012 7 7 0 30.000 PLN €7,176.00 10,00%
hub:raum Krakow Krakow 2012 7 n/a n/a €50,000.00 €50,000.00 10,00%
Open Education Challenge Barcelona 2014 7 n/a n/a €20,000.00 €20,000.00 6,00%
EcoMachines Incubator London 2013 6 2 4 £100,000.00 €139,750.00 n/a
Searchcamp Middlesbrough 2013 5 5 0 £15,000.00 €20,962.50 10,00%
StartLabs Belgrade 2013 4 0 4 $50,000.00 €44,645.00 15,00%
ICatapult Budapest 2012 4 0 4 €70,000.00 €70,000.00 11,00%
Black Forest Accelerator Lahr 2013 4 n/a n/a €12,500.00 €12,500.00 7,00%
BetaFoundry Oxford 2011 3 3 0 £5,000.00 €6,987.50 10,00%
Metavallon Athens 2012 3 0 3 €25,000.00 €25,000.00 8,00%
Mas Angel Fund Berlin 2011 2 n/a n/a €100,000.00 €100,000.00 n/a
BetaFACTORY Oslo 2011 2 n/a n/a 100,000 NOK €11,350.00 n/a
Digital Catalyst Fund Bucharest 2013 1 n/a n/a $ 20,000.00 €17,858.00 12,50%
Plug and Play Russia Moscow 2012 n/a n/a n/a $25,000.00 €22,322.50 10,00%
GTI Labs Moscow 2012 n/a n/a n/a $40,000.00 €35,716.00 5,00%

Exchange rates (Period Average: 11.06.15 - 10.07.15)
GBP / EUR: 1.3975
USD / EUR: 0.8929
NOK / EUR: 0.1135
PLN / EUR: 0.2392
Source: Oanda; http://www.oanda.com/currency/historical-rates/


 

*Disclaimer: The data herein has been assembled as a research on the competitive landscape in Europe for Eleven’s own use and broadly represents the market as of the end of 2013 and 2014. We have mostly relied on publicly available information from the respective accelerators websites. We have not confirmed or verified in any way the correctness of these numbers. If you would like to have certain information updated or removed, please write to teodora [at] 11 [dot] me. The author and Eleven do not assume and hereby disclaim any liability to any party for any loss, damage, or disruption caused by errors or omissions, whether such errors or omissions result from negligence, accident, or any other cause.