88mph managing director (MD) Kresten Buch told HumanIPO in this investment round the fund had invested in startups which had made slightly more progress than those usually chosen by 88mph, with 50 per cent having paying clients and all but one having launched a product prior to joining the programme.
“It is still early days and many things need to be proven for the businesses to grow, but we are excited founders want us to invest in them even if they are up and running, and in many cases we feel we and our network can add more value to them in this phase compared to if they just show up with an idea they dreamed up the day before,” he said.
Justin Melville, founder of Ekaya, said: “We didn’t really understand what an accelerator was until we started at 88mph. 88mph has been like a lightning rod for us, the people, energy and momentum from the programme has been incredible, literally game-changing.”
Read the rest of the article here