Seedcamp, a seed fund that is best described as Europe's version of Y Combinator, just announced a partnership with Facebook which will give Seedcamp's teams access to product, technical, and design support as well as early access to beta products and programs on Facebook Platform.
Facebook already offers similar services to Y combinator's startups. Facebook even acquired a Y combinator company in the form of photo company DivvyShot.
Seedcamp provides seed investment of up to $67,000 in exchange for 8 to 10 percent of the startup in question. The fund stages events all over Europe and beyond (In 2011, Seedcamp events are also planned in New York, Singapore, India and South Africa) that culminate in 20 or so companies being selected to participate in the annual Seedcamp week in London. Following an investment, the startups spend three months in London working with mentors to develop their product. Seedcamp raised a new $4 million fund last year.
Since Seedcamp launched in 2007, it has received over 1,500 applications, reflecting the pent-up demand for seed investment in Europe, but invested in only 22 companies. The selected companies have so far come from 12 countries including tech-talent hotspots like Estonia, Romania and Slovenia. Semantic blogging company Zemanta, one of Seedcamp's most successful investments raised $3 million last year and is heading towards profitability.
Tags: seed investment
Companies: Facebook, Seedcamp, Y Combinator, Zemanta
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Source: http://feeds.nytimes.com/click.phdo?i=4a67753db077b910cac7ca5e906b11ae
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