A better way to start - introducing our new €100K deal
From now on, every startup joining imec.istart receives €100K in funding through a single Convertible Loan Agreement (CLA). We’ve replaced the old mix of equity and loans with one clean, simpler structure.
This replaces the previous 6% equity model. There’s no upfront equity - just a more founder-first approach that gives you flexibility where it matters most early on.
What you get
You get €100K in cash, combined with the in-kind support imec.istart is known for: deep network access, hands-on expertise, a bunch of templates & academy resources, founder-focused events and a dedicated team that's on call. Everything sits in the same agreement, so you don’t have to juggle multiple contracts or figure out what’s included where.
It’s designed to give you both capital and support from day one, without adding friction at a moment where speed matters more than anything else.
How the deal works (without the legal headache)
The investment is structured as a Convertible Loan Agreement (CLA). In simple terms, you get the money now, and the conversion into equity happens later - usually when you raise your next round.
So instead of debating your valuation before you’ve really had the chance to prove anything, you can focus on building traction first. The pricing discussion happens when there’s something real to base it on.
What this means for your equity
The economics are intentionally simple. For non-deeptech startups, the valuation cap is €2.5 million, which typically lands around 4% equity at conversion. For deeptech startups, the cap is €5 million, usually closer to 2%.
If your next round happens at a lower valuation, the conversion follows that. This means that the percentage will be a bit higher.
Because we come in early, the deal includes a standard 20% discount. That’s simply how early-stage risk gets priced, and it keeps things consistent with how future investors will look at the round.
What comes with it (beyond the money)
This is not just about the money. The in-kind value - coaching, strategic support, and access to the imec.istart ecosystem - is fully part of the deal. It’s not an add-on or something you negotiate separately. It’s built in, because it’s a big part of what helps startups move forward.
We stay involved, but we don’t sit in your seat. Through a board observer role, we follow your progress closely without getting in the way of day-to-day decisions. We expect regular updates and transparency, but the company remains yours to build.
Built for speed, not for dragging things out
Once you’re selected, the process moves quickly. You’ll typically have two weeks to sign if your company is already set up, or four weeks if you still need to incorporate. If there are conditions to sort out - IP agreements, team setup, cap table clean-up - we align on what’s realistic.
In some cases, we use a conditional CLA, so you can move forward while those final pieces fall into place.
Why we can offer this (and why it matters)
Over the past decade, imec.istart has supported more than 370 startups, helping them raise over €1.2 billion in follow-up funding.
A big reason we can offer this kind of deal is the structure of our fund. imec.istart operates as an evergreen fund, meaning that when startups succeed, part of the exit proceeds flows back into the fund and is reinvested into the next generation. In a very real way, every successful founder helps fund the next.
This long-term model allows us to invest in a way that aligns with how startups actually grow. Our initial €100K investment is structured through a simple CLA, with no upfront equity and conversion at the next round. As companies progress, we can continue to invest alongside lead investors - following the terms of the round - for up to €300K in total funding.
As Belgium’s only evergreen accelerator fund, this allows us to improve our terms over time instead of tightening them. It also allows us to operate in close alignment with the broader venture ecosystem, complementing other investors while bringing founder-friendly structure at the earliest stage.
The fund is supported by the Flemish Government and a strong group of partners, including ING, BNP Paribas Fortis, Telenet, Cronos Group, Vlaamse Energie Holding, EFIN, Verhaert and Nuhma.
Safe to say we’re in it for the long run. We believe this model, in combination with the wider venture landscape, is a strong foundation for the future of early-stage investing in Europe.
What this means for you as a founder
In practice, this setup gives you room to breathe early on. You keep your cap table clean, avoid early dilution, and stay focused on building, and not fundraising, from day one.
It also allows us to move much faster after selection, often in days rather than weeks or months, so you can start gaining traction right away. By removing the immediate pressure to raise capital, you get a stronger starting position and more confidence as you work towards your next round.
At the same time, the simpler structure - one agreement, no upfront equity - makes it easier to align with other early-stage investors. That means smoother co-investments and a better fit with how the market operates.
For many teams, €100K - if used well - is enough to reach first customers, validate the core of the product, and raise the next round from a much stronger position.
In short
With this renewed deal, imec.istart gives you the capital to start, the structure to scale, and the backing to go further. One clear deal, aligned from day one and built to help you move faster, grow smarter, and build something real, with a structure designed to give you runway, not complexity.
🚀 Ready to apply?
Imec.istart Belgium runs multiple open calls throughout the year, giving you the flexibility to apply when the timing is right. If you’re building a technology startup, we’d love to hear from you.
