Twilio And 500 Startups Launch A Micro-Fund For European Startups

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“Cloud communications” company Twilio and startup accelerator 500 Startups today launched Twilio Fund Europe 2013, a new micro-fund for companies from Europe and surrounding countries being built on the Twilio platform. In addition, the existing US-based 2012 Twilio Fund finalists were announced, closing out last year’s fund.

The new Twilio Fund Europe, announced today on stage at London Web Summit 2013 by CEO Jeff Lawson, will provide seed funding to startups throughout Europe making use of Twilio’s cloud communication web service APIs. As with the original US-based fund it will be managed by 500 Startups founding partner Dave McClure. The Twilio Fund in the US was created with 500 Startups in September 2010.

McClure said “there is incredible innovation happening in Europe” but that “entrepreneurs in those countries often have limited access to venture capital” hence the need for the new fund.

In addition to the upfront investment successful applicant companies will also receive free Twilio credits, an all expenses paid trip to San Francisco to attend Twilio’s own annual conference, TwilioCon, and Twilio’s PR and marketing machine.

Twilio Fund’s 2012 finalists, announced Wednesday include Babelverse, Call Loop, Healthsouk, Sessions, and Wedgies. Previous recipients include TalkDesk, Mobonics, FastCall, Magnolia Prime, OrderMapper, Turnstar.