Vlad Andriescu
With 900,000 euros in total funding available for the program, IMPETUS will invest €300,000 in three startups, each receiving 300,000 euros for a 10% equity stake.
SeedBlink is joining the Karman Line to enhance the value offered to participating startups. The program’s winners will get a 30% discount in fees for fundraising campaigns of up to €100,000 on the investment platform. The finalists will also benefit from reduced fees when onboarding Nimity – SeedBlink’s solution for equity management, while SeedBlink will also provide them with targeted training on financing readiness with a focus on cap table, ESOP, and clean documents management.
In 2022, SeedBlink cooperated with Microsoft for Startups and Agricover in organizing Nextcelerator, a program for Agritech startups from the CEE region. The program provided the 10 finalists with training, business planning, mentoring, and learning, and an introduction to the ins and outs of agriculture.
The Karman Line program is designed to add value beyond equity funding, involving several stages including online sessions and a live event in Sofia in March 2024. The program aims to cover topics relevant to early-stage financing and strategies of global companies, tailored to the specific needs of startups in the focus sectors.
Eligibility for the program extends to companies with validated business ideas and realized sales, based in Bulgaria, Romania, or Greece, or with founders from these regions. Additionally, applicants should be registered for less than 7 years and have a clear strategy for expansion into European and/or U.S. markets.
"The program Karman Line by IMPETUS is inspired by the boundary 100 km above sea level with the same name, where Earth meets space. We are looking for startups and innovators who, as astronauts crossing that line, are on the precipice of groundbreaking change and have the ambition to transform the industry and the world as we know it. Karman Line supports innovation in the movement of people, goods, and services. Our mission at IMPETUS Capital is to help them overcome limitations and realize all their potential, becoming market leaders," says Viktor Manev, co-founder and managing partner of IMPETUS Capital.
Impetus has a proven track record in finding and investing in successful companies such as the Frankfurt Stock Exchange double-listed Shelly Group (formerly Allterco, ticker SLYG), a home-automation producer of smart home IoT solutions, Discordia, the largest transport and logistics company in Bulgaria, Transmetrics, an innovator in AI and big data analytics for logistics planning, trusted by DHL, DB Schenker, Kuehne+Nagel and other industry leaders, and the US-based Storied Data, a platform for unified interactive documents, data publishing, and intelligent information distribution. This experience in scaling startups positions the fund as a significant influencer in shaping the future of the next disruptive innovators, willing to transform the mobility, commerce and space sectors.
“I am genuinely excited to partner with IMPETUS Capital for the Karman Line startup competition. IMPETUS has established itself as a trustworthy and respected collaborator, aligning perfectly with our ethos at SeedBlink. The name and story behind Karman Line resonate with us deeply, reflecting a shared passion for innovation and progress. This partnership presents an exciting opportunity to foster new talents and ideas in the tech arena, much like our previous successful engagement with the How to Web Spotlight competition. Can’t wait to engage with the startups and founders that this competition will unveil." Angel Hadjiev, Country Manager for Bulgaria & Greece, SeedBlink.”
Applications for the Karman Line program is open until January 15, 2024, inviting startups to seize this unique opportunity for growth and development in three of the most dynamic and interconnected sectors.
On January 22, 2024, IMPETUS Capital will request select applicants to create a short video and answer additional questions. In February, the jury will engage in intensive online sessions with these finalists. The process culminates in March at a pitch event in Sofia, Bulgaria, where the three winners will be chosen.
