With the latest news in January, we have a valuable addition coming from the west to the east – EarlyBird, the known venture capital from Berlin directed $130 million to support startups from Central and Eastern Europe. This will be done through the opening of Startupbootcamp Istanbul.
This already formal accelerator will be working on a 3 month program in which it mentors, funds, houses and showcases early startups. The applications are officially open until the end of March, and teams can apply no matter where are they from.
If chosen, startups start their program in June and for only 8% of their equity they are funded by €15,000, 4 months office space and a mentorship program valued at over €250k.
Startupbootcamp Istanbul will also work on a more coworking concept model, by spanning over two floors, open office space and a coffee shop at the lobby.
With this very important investment in startups Turkey will become one of the key areas in the SEEMEA region.
While being widely accepted in the US and at the west, ecommerce had a slow start in Southern and Eastern Europe. With the financial crisis ravaging countries like Spain, Greece and Italy everything was on hold, well almost everything. Surprisingly ecommerce is the only thing that had a constant growth in this region during the past few years.
With a yearly growth rate of 23% from 2009, ecommerce in Southern Europe is steadily growing. A report from Ecommerce Europe reveals that the market value in 2012 was about 33.5 bln Euros and it grew over 18% in the past year alone.
Even with the financial crisis countries who take the lead in ecommerce are Spain, Portugal, Italy, Greece, Turkey, Croatia, Cyprus and Malta.
Southern Europe ecommerce market is a great opportunity for retailers. Even considering the fact that the average South European shopper spends less than a European shopper (€833 compared to €1,402 in 2012), the possibilities of this growing market are yet to be seen.
Welcome to SEEMEA! In case you don’t know SEEMEA stands for Southern and Eastern Europe Middle East and Africa. We will cover topics from technology business from this region.
You will find out latest news, reviews of popular sites and products, read interviews with well-known companies as well from rising-star companies, see current job openings and upcoming events in the SEEMEA region, read in-depth analysis and many more.