First cheques

What accelerators and pre-seed programmes publish as their standard offer. Unlike a funding round, these are prices rather than negotiations, which is the only reason they can honestly sit in one column.

Cheque sizes are totals, including any follow-on the programme commits to up front. Amounts stay in the currency the programme quotes and are never converted, so the column ranks within a currency rather than across. Terms change between batches; each row links to the source page.

Sort

Published programme terms

Fixed offers. What you get is what everyone in the batch gets.

  1. EIC Accelerator

    Grants below €2.5 million for innovation activities to be completed within 24 months, plus investments from €0.5 to €10 million from the EIC Fund. Companies apply for grant-only, equity-only, or blended finance combining both. Open to SMEs and small mid-caps of up to 500 employees from EU Member States and countries associated to Horizon Europe.

    Belgium · Proposals evaluated every two months from 2026, down from every six · terms

    €12.5M

    Direct equity or quasi-equity from the EIC Fund, taken as a minority stake

  2. South Park Commons

    $400K upfront for 7% on a standard SAFE, plus $600K guaranteed in your next external funding round. Fellows also get up to $1M in credits from partner companies.

    United States · Two fellowships a year: spring and fall · terms

    $1M

    7% for the first $400k

  3. Neo

    $750K on an uncapped SAFE. Neo takes no equity until the next priced round, where it has participation rights of up to 5%: 5% at a $15M valuation, 0.75% at $100M. Includes $450K+ in compute credits and a profit share in Neo's fund. A parallel student track gives $40K per person plus $100K+ in compute credits.

    United States · 12-15 startups and 5-8 student teams per residency · terms

    $750k

    None upfront: participation rights up to 5% at the next round

  4. HAX

    First investment is $250,000 ($150k in cash and $100k in in-kind engineering and lab support, paid out at thirty-day intervals) on a post-money SAFE with no valuation cap that specifies HAX's target ownership outright. Total initial pre-seed funding runs up to $550,000, with follow-on to an aggregate of up to $4M per company through Series C/D.

    United States · Six-month residency; HAX works with startups for 6 to 18 months · terms

    $550k

    Not disclosed

  5. SOSV SF & NY

    SOSV starts with a pre-seed cheque of up to $550,000 and must be able to get above a 10% ownership position for it. Founders are expected to commit to the 4-6 months the programs require; most of SOSV's capital then goes to follow-on rounds, but only in companies it backed at pre-seed.

    United States · 4-6 month programs · terms

    up to $550k

    Above 10%

  6. betaworks

    Up to $500k investment, guaranteed: betaworks and its syndicate partners each investing up to $250k per team. Twelve weeks in-residence culminating in Demo Day. No participation fee; founders cover travel and housing. betaworks does not publish an equity percentage.

    United States · Two camps a year (March to May, and August to November) with 8-12 companies each · terms

    up to $500k

    Not disclosed

  7. Boost VC

    Boost VC leads pre-seed rounds with $500k checks and invests in 70+ startups a year. It does not publish a standard equity percentage; the widely cited 15% figure dates from a 2019 restructuring of the program.

    United States · 70+ startups a year · terms

    $500k

    Not disclosed

  8. EWOR

    Traction Mode: €500,000 invested immediately after acceptance, no tuition fee, for founders with a product in market up to €2M ARR. Ideation Mode: up to €300,000 to turn a concept into a fundable company, with a 3% tuition fee in equity that applies only if EWOR invests. Fellows also receive €300k in credits from 16+ partners.

    Germany · No fixed batches: modular, rolling admission · terms

    €500k

    3% tuition fee in equity in Ideation Mode, none in Traction Mode

  9. Hexa

    Hexa Sprint: €500k through two instruments: a €20k convertible note (BSA Air or SAFE) for 4% of the company, plus a €480k convertible note capped at €8M, totalling about 10% if the Series A prices above €8M. Six months. Hexa Start is a twelve-month track where Hexa provides the idea, finds a co-founder and covers all costs until independence; Hexa Scale invests €5-20M for a majority stake in companies at $1-10M ARR.

    France · About 12 founders (two per project) selected a year from roughly 1,000 applicants · terms

    €500k

    About 10% on the Sprint track

  10. Y Combinator

    $125,000 converts into a fixed 7% on a post-money safe; $375,000 is invested on an uncapped safe with an MFN provision. YC also takes a pro rata right and charges no fees.

    United States · Four batches a year: winter, spring, summer and fall · terms

    $500k

    7% + uncapped MFN safe

  11. Entrepreneurs First

    $125,000 on a post-money SAFE for 8% of the company, plus an optional further $125,000 on an uncapped MFN SAFE from EF and Transpose Platform if the team relocates to San Francisco and incorporates as a Delaware C-corp. A £6,000 Talent Investment is paid on signing the offer.

    United Kingdom · FORM runs 12 weeks in London; funded teams then spend 12 weeks in San Francisco on LAUNCH · terms

    $250k

    8% on a post-money SAFE, plus an uncapped MFN SAFE

  12. Founders, Inc.

    First cheques of $100-250k, plus access to the 42,000 sq ft Fort Mason campus and the resident founder community. Applicants can expect a response in about a month. Founders, Inc. does not publish an equity percentage.

    United States · Rolling applications · terms

    $100k-$250k

    Not disclosed

  13. Thiel Fellowship

    $250,000, spread out over two years. "We do not take equity in your company." Anyone aged 22 or younger, and without a university degree, is eligible to apply. Fellows also get support from the Thiel Foundation's network of founders, investors and scientists.

    United States · Rolling: applications accepted year round · terms

    $250k

    None

  14. Techstars

    $220,000 day-one investment: a $20,000 post-money convertible equity agreement for a fixed 5% of common stock, plus a $200,000 uncapped MFN safe that converts on a priced round of at least $1M. Asia-Pacific programs use a $100,000 safe, for $120,000 total. No program fee.

    United States · Three-month mentorship-driven programs run year-round worldwide · terms

    $220k

    5% common + uncapped MFN safe

  15. Antler

    UK terms: £125,000 for 8.5% equity plus £85,000 via a convertible note, less a £40,000 service fee. Antler then commits up to £330k into a follow-on round of £1.5M or more (£165k below that), and Antler Elevate can invest up to £25M from Series A onward.

    Singapore · Eight-week in-person residency, followed by a 10-12 week build-and-raise phase · terms

    £210k

    8.5% plus a convertible note

  16. Berkeley SkyDeck

    Between 20 and 25 selected cohort teams receive a $210K investment from the Berkeley SkyDeck Fund across a six-month acceleration process. SkyDeck does not publish the equity stake. A separate Pad-13 track of 60-80 teams gets resources without the cheque; the fund may then invest up to 10% of any institutional round they raise, at the same terms as other investors.

    United States · Two batches a year: roughly 20 startups every six months · terms

    $210k

    Not disclosed

  17. HSG START Accelerator

    Every participating startup receives a scholarship of CHF 10,000 paid in tranches across the programme plus CHF 5k in benefits, equity-free. The accelerator additionally invests up to CHF 200,000 into selected startups. There are no programme fees.

    Switzerland · Three-month batches; Batch 3 runs September to December 2026 · terms

    CHF 200k

    Not disclosed

  18. 500 Global

    Companies accepted into the Flagship Accelerator are offered a $150,000 investment for a 6% stake, subject to terms and diligence. Applying does not guarantee an investment.

    United States · Rolling batches: Batch 36 most recent · terms

    $150k

    6%

  19. Entrepreneurs Roundtable Accelerator

    $150,000 on a post-money SAFE in return for 6% of each company, plus free office space, free hosting credits with several major cloud providers, and benefits through legal, finance and accounting partners. Companies also have the potential for follow-on funding.

    United States · Two four-month programs a year: winter and summer · terms

    $150k

    6%

  20. LAUNCH

    $125K in funding across a 14-week program with 7-12 startups per cohort and 11 investor sessions. LAUNCH does not publish a target ownership percentage: its own FAQ poses the question but gives no figure.

    United States · 7-12 startups per cohort; Cohort 37 begins September 2026 · terms

    $125k

    Not disclosed

  21. Forum Ventures

    $100k USD in pre-seed funding to each company joining the program, for 7.5% equity on a standard post-money SAFE, written on day 1. Open to pre-seed companies that have raised less than $500k and have (or are about to have) an MVP in market.

    United States · Seasonal cohorts: winter and spring · terms

    $100k

    7.5%

  22. gener8tor

    $100K into each high-growth startup across a 12-week investment-for-equity accelerator, with 100+ introductions to mentors and investors. gener8tor does not publish the equity percentage on its program pages.

    United States · 12-week programs run year-round across dozens of locations · terms

    $100k

    Not disclosed

  23. Startup Wise Guys

    A convertible investment of up to €100,000 with a €35,000 programme cost, so roughly €65,000 reaches the company, plus an additional €250,000 as a follow-on opportunity. Equity is not fixed in advance (it depends on maturity, revenue, market and team) and the money usually arrives in two tranches.

    Estonia · Five-month flagship programme, 80% online and 20% in person · terms

    €100k

    Negotiated, usually via a convertible note

  24. Bethnal Green Ventures

    £60,000 investment in return for 7% equity, then six weeks of intensive learning and six weeks of bespoke coaching. Ten to fifteen of the most promising portfolio companies a year are offered follow-on investment from pre-seed to Series A.

    United Kingdom · Two cohorts a year (Spring and Autumn) of roughly 12 ventures each · terms

    £60k

    7%

  25. Alchemist Accelerator

    An optional small cash investment on founder-friendly terms, in the form most appropriate for the company, often a SAFE. Alchemist offsets the program's required tuition fee with additional investment capital; average investment proceeds to the company are $30,000 net of the tuition offset. The program takes a single-digit grant of common equity or its equivalent, with flexible terms.

    United States · Rolling application deadlines; six-month Flagship classes · terms

    ~$30k net

    Single-digit grant of common equity, typically ~5%

  26. Z Fellows

    A $10,000 investment at a $1B valuation cap, converting to equity at the next priced funding round. Participation is optional; fellows can join without accepting the investment.

    United States · Multiple cohorts a year, rolling applications with no deadline; roughly ten builders per cohort · terms

    $10k

    Converts at a $1B valuation cap

  27. Google for Startups

    Equity-free support for the duration of the program. Cohorts of 10-15 startups get product credits and Google Cloud credits subject to eligibility review, free Cloud TPU access for machine learning research participants, and a mix of remote and in-person one-to-one sessions, group learning and sprint projects. Google does not publish a cash grant figure on its accelerator page.

    United States · Regional cohorts of 10-15 startups · terms

    No standard offer

    None

  28. HF0

    HF0 publishes no investment terms. Its own site states only that it backs ten teams at a time, with batches starting 13 September and 4 January and Demo Days on 4 December and 1 December. Third-party accelerator trackers report up to $1M on an uncapped SAFE for roughly 5%, with housing and meals covered, unconfirmed by HF0.

    United States · Two batches a year, ten teams each · terms

    No standard offer

    Not disclosed

  29. ODF

    Non-dilutive; ODF states plainly: "We don't take any equity." There is no investment. Participants get an in-person onboarding week in San Francisco, lifetime access to a 3,000+ member platform and $800k+ in perks from partners including Mercury, AWS and Stripe Atlas.

    United States · 80-100 participants per cohort; ODF28 kicks off in Q3 2026 · terms

    No standard offer

    None

  30. Plug and Play

    Plug and Play's accelerator programs are built around corporate access (mentorship, networking and pilot opportunities) rather than a standard cash-for-equity offer, and it publishes no program terms. Investment is a separate, optional track through its in-house VC team, which makes 200+ investments a year.

    United States · Industry-themed programs run continuously across dozens of cities · terms

    No standard offer

    Not disclosed

Typical first cheque

Funds without a batch programme, at the size they say they write first. Negotiated, not published.

  1. Elaia

    First cheque starting at €300k, up to €15 million per company across the life of the investment, from pre-seed to Series B. DTS3 specifically invests €1M to €13M in pre-seed and seed B2B startups across Europe.

    France · terms

    €15M

    Not disclosed

  2. K Fund

    €100k to €10M per deal across the platform, from first cheque through growth

    Spain · terms

    €10M

    Not disclosed

  3. Point Nine

    $1-10 million per company, invested from a small equal partnership of four investment partners

    Germany · terms

    $10M

    Not disclosed

  4. United Ventures

    €1 million to €8 million per investment, into 15 to 18 early-stage European technology companies per fund

    Italy · terms

    €8M

    Not disclosed

  5. Speedinvest

    Early: €250K-€5M from inception to seed. Growth: €5M-€30M from Series B to pre-IPO. Each of eight specialist teams backs just four to six new companies a year and leads 85% of initial rounds.

    Austria · terms

    €5M

    Not disclosed

  6. byFounders

    Initial tickets of €500,000 to €4 million at pre-seed and seed, targeting around 35 companies per fund at 15-18% ownership, with follow-on capacity

    Denmark · terms

    €4M

    15-18% at time of investment

  7. Afore Capital

    Afore is a $500M fund investing $500k-$2M+ with high conviction in pre-traction, pre-everything companies. Its Founders-in-Residence program backs people with an idea before it is venture-ready; Afore publishes no separate FIR terms.

    United States · Rolling · terms

    $500k-$2M+

    Not disclosed

  8. Founderful

    Roughly $1M at pre-seed and up to $2M at seed, eight to ten deals a year, preferring to lead, with 50% of the fund reserved for follow-on investments

    Switzerland · terms

    $2M

    Not disclosed

  9. Frst

    Average first cheque of $2m with significant variance, into companies that may have no team, no product and no incorporation. Most decisions are made in two meetings and 48 hours.

    France · terms

    $2m

    Not disclosed

  10. Pear VC

    PearX invests between $250K and $2M depending on your stage and capital needs. Pear does not publish an equity percentage. Companies also receive over $1M in cloud credits and access to Pear Studio in San Francisco.

    United States · Two 12-week cohorts a year: winter (January-April) and summer (July-October), 20-25 teams each · terms

    $250k-$2M

    Not disclosed

  11. Soma Capital

    Soma Fellows offers up to $2M uncapped for your startup, with faster $10M+ follow-on funding for strong traction. A second track places fellows into engineering roles across the Soma network. Perks include a 24/7 concierge, office space in SF or NY and customer introductions.

    United States · Rolling · terms

    up to $2M

    None fixed: uncapped SAFE

  12. Concept Ventures

    Up to $1.5M in a company's first round, averaging around $1M per deal, leading or co-leading the majority of them

    United Kingdom · terms

    $1.5M

    Not disclosed

  13. Ada Ventures

    £250k to £1m in a company's first funding round, backing 10 to 12 companies a year and leading over 70% of them, with follow-on at seed

    United Kingdom · terms

    £1m

    Not disclosed

  14. Andreessen Horowitz

    a16z speedrun invests $500K for 10% upfront in a SAFE and another $500K in your next round within 18 months, plus a pro rata right, cloud, AI and software credits worth more than $8M, and no board seat.

    United States · Two 12-week cohorts a year · terms

    $1M

    10% for the first $500k

  15. Seedcamp

    Roughly $1M as a first cheque into 100-120 startups from the $220M Fund VII, with $3M-$5M follow-on cheques at Series B and beyond from the $100M Select fund

    United Kingdom · terms

    $1M

    Not disclosed

  16. APX

    Up to €500,000 into a start-up before its Series A round, starting with an early investment of €50,000, followed by open-ended venture development rather than a fixed-term programme

    Germany · terms

    €500k

    Not disclosed

  17. Better Tomorrow Ventures

    The Mint cuts $500,000 checks in exchange for 10% equity in six to ten fintech startups per cohort, on a SAFE. Applications and introductions are taken on a rolling basis.

    United States · Rolling applications; six to ten startups per cohort · terms

    $500k

    10%

  18. HEARTFELT_

    Initial investments range from €100-400k, made solo or alongside other early backers, with follow-on investments as the company raises its next round

    Germany · terms

    €400k

    Not disclosed

  19. SFC Capital

    SFC will invest up to £250k from its SEIS Fund and up to a further £100k from its British Business Bank fund, which is managed directly by SFC and is not SEIS or EIS. Typical investment size is £100,000 to £300,000; the exact amount is set by the Investment Committee.

    United Kingdom · 15-20 companies per SEIS fund; on average 20 companies per SEIS or EIS fund · terms

    £350k

    Not disclosed

  20. Conviction

    $250K investment on an uncapped, no-discount MFN SAFE, or at the same price as a round closed within the last 60 days. Includes $350K in AWS credits, $350K in Azure credits and $500K+ of other compute, inference and hosting credits, plus early access to Mistral models.

    United States · Rolling admissions; 10-12 companies per cohort · terms

    $250k

    None fixed: uncapped, no-discount MFN SAFE

  21. Project Europe

    Invests from idea stage onward in technical founders aged 25 or under building from Europe; no prior funding or education necessary. Rolling cohorts with immediate onboarding rather than fixed application deadlines.

    Rolling; invests in roughly 10-20 founders per year, per Sifted · terms

    €200,000

    6.66%

  22. Kima Ventures

    $150k one-off tickets, roughly 100 new deals per year, with no restriction on stage, deal size or sector

    France · terms

    $150k

    Not disclosed

  23. Greylock

    Edge is a bespoke three-month company-building program with no standardised funding terms. Greylock does not require Edge companies to take its capital: funding ranges from a priced seed round to an uncapped SAFE note to no capital at all, plus $500K+ in credits with AWS, Google, Microsoft and more. There is no standard programming and no mandatory meetings.

    United States · Rolling: a very select handful of founders at a time · terms

    No standard offer

    None required: founder's choice

  24. Sequoia Capital

    Arc is Sequoia's bi-annual open call for pre-seed and seed stage founders. Sequoia's own FAQ answers "Does Sequoia have dedicated terms for early-stage companies?" with: "No. Every new pre-seed or seed stage partnership with Sequoia is unique. As such any terms are company specific." Every early-stage company Sequoia partners with is invited to the Arc Intensive, a four-day company-building program run in cohorts of roughly ten.

    United States · Bi-annual open call · terms

    No standard offer

    Company specific: Sequoia publishes no standard early-stage terms