HackFwd Offers 12 Month Mentorship and Seed Funding Program To European Startups
By Anna Johnson on June 20th, 2010Expanding on the U.S. originated Y Combinator / TechStars approach to providing seed funding and mentoring to technology startups, Germany based HackFwd is a new 12 month program for tech based startup teams in Europe.
Lars Hinrichs founded HackFwd to provide startup teams with up to €191,000 (around USD $231,000) in seed funding plus a range of mentoring and professional services, in return for 27 percent equity in their ventures. Lars Hinrichs is an accomplished entrepreneur, having previously founded the European social network Xing, which he sold in 2009 to German media company, Hubert Burda Media, for $57 million.
Whilst startups participating in HackFwd will give up a rather hefty equity stake in return for being part of the program, the investment, mentoring, services and access to the HackFwd team itself may well be worth it.
