We are super excited at Pioneers to announce – in cooperation with our partner Speedinvest – a €100,000 seed investment for the Pioneers Challenge winner at Pioneers Festival 2015.
In case you missed it and/or want further details on our Startup Programs at Pioneers Festival 2015, read all about them here!
Let us now look at the nitty-gritty details of the deal:
Firstly, the seed investment is a total of up to EUR 100,000 and will be paid out in the form of a convertible loan. In the context of a seed financing, a loan will convert into shares of preferred stock upon the closing of a next equity financing – say, a Series A round of financing – at market terms for such an instrument.
Secondly, This seed investment will be released in tranches. At first, a tranche of EUR 25k is paid upon winning the Pioneers Challenge. Pioneers and Speedinvest will support the winner in a U.S. and E.U. road show to jointly build business traction. Upon successful completion of said tour, additional money will be released based on milestones.
Last, and hopefully certainly least, the investment offer is non-obligatory for the startup winner of the Pioneers Challenge 2015 and subject to standard due diligence processes on behalf of the investor, i.e. Speedinvest and Pioneers.
To be a bit more precise about the investment sectors – this is certainly not an exhaustive list – let’s look at the following areas in a bit more detail:
Security, Fraud, Identity
Banking from the cloud
Analytics / Big Data
Next Gen Telecoms