By participating in our accelerator you will take big steps with your start-up. You will be intensively coached by our passionate mentors and advisors, get in touch with the right investors and learn essential skills during our workshops. All with one goal: explosive growth!
Below are some of the conditions for your funding that you should keep in mind:
Costs and investments
The cost of our accelerator program is €35,000, excluding VAT. Our partner Belfius will cover the entire cost* by investing this amount in your start-up! So this whole process costs nothing to your start-up.
Shares and investment right
In exchange for covering program costs, Belfius will receive 3% shares in your start-up. In addition, Belfius will receive a one-off 10% investment right in your next capital round. Our mentor group will also receive 10% investment rights.
The investment right means that Belfius and the mentoring group can co-invest in your next capital round up to the percentages mentioned. This is on the same terms as for other investors; there are therefore no discounts or preferential terms. The investment right is only valid for the next capital round during or after the program. After this the right expires.
€50,000 funding for your start-up
If you are selected to participate in our accelerator you will be eligible for a Bullet loan of 50K from Belfius. Naturally, Belfius will do a financial check-up before approving this Bullet Loan. Often a question of formalities when you know that 95% of the start-ups that apply for the loan actually obtain it.
The Bullet Loan has a very advantageous interest rate of only 1.1% and you only have to repay the capital after 3 years. You do not have to provide a personal guarantee for this. Only a PMV guarantee is required. The cost of a PMV guarantee is €1,125 and you pay it with your Bullet Loan.
There is a possibility of converting the loan into capital at the end of the term or at the next capital round. This is only possible if both parties, Belfius and the start-up, agree.
Of course, at Birdhouse we don’t leave you to your own devices. During this decision process we will help you where necessary and you can always count on advice from our experts.
Want to know more about the terms and conditions and our accelerator?
*Only the VAT of €7,350 you pay yourself, but you simply reclaim it later. Don’t have this amount in your account? No worries, you can use the Bullet Loan for that.