bmp increases the “Startup Gladiator” – €500,000 for seed and early-stage startups
Seed and early-stage startups are often dependent on quick decisions and, above all, sufficient capital to implement their innovative ideas in the first few months of their company’s development. This is precisely where the “Startup Gladiator” program from bmp Ventures comes in, which has recently undergone a significant upgrade: From now on, participating startups will receive funding of up to €500.000 – in just six weeks at standardized conditions.
Growth boost for start-ups in the early stages
Whether for the technical development of a prototype, building a strong team or creating marketing and sales structures – in the early stages, young companies need capital to make rapid progress. The Startup Gladiator program is designed to meet this need and provide startups with a solid financial basis for the first 12 to 18 months.
The capital is provided by the funds of IBG Beteiligungsgesellschaft Sachsen-Anhalt GmbH, a wholly owned subsidiary of the state of Saxony-Anhalt, which have been managed by bmp Ventures since 2015.
The financing model of the Startup Gladiator program
The Startup Gladiator offers a transparent and fast process characterized by standardized conditions. The entire process, from the initial assessment of the startup to the investment, takes a maximum of six weeks. The key financing details are as follows:
- Open participation of 10% of the share capital
- Silent participation of up to €497,500 with conversion option (interest rate 6% p.a. fixed + 5% profit-dependent)
- Vesting of the founders, to ensure a long-term commitment
- No collateral or guarantees required from the founders
- Tag-along and drag-along rights to secure the co-sale rights
For companies seeking follow-up financing, part of the silent partnership is converted into equity. This involves converting €100,000 into equity, resulting in a company valuation of around €1 million.
“A milestone for young companies”
Dr. Jan Alberti, Managing Partner of bmp Ventures, emphasizes the importance of the program for young companies:
The Startup Gladiator was developed to invest quickly and efficiently in seed and early-stage startups. With the support of the IBG funds, we have set up an outstanding venture capital program that offers real added value for many teams. The increase to €500,000 shows our determination to support ambitious founders even more.
Which start-ups can apply?
The program is aimed at technology-oriented startups that meet the following conditions:
- Technology-oriented startup in the early stages
- Company is not older than 5 years
- Current location or plans to locate in Saxony-Anhalt
Interested startups can send their pitch deck and financial planning directly to startup@gladiator.vc.
Conclusion
With the increase in funding from € 350,000 to € 500,000, bmp Ventures’ Startup Gladiator offers a unique opportunity for young companies to realize their ideas and overcome the critical initial phase with sufficient capital. The uncomplicated and fast process as well as the advantageous conditions make the program an attractive option for startups that want to get off the ground in Saxony-Anhalt.
