KBC unveils €100M Start it Fund, targeting Belgium’s most promising startups from idea to IPO

KBC Group is investing €100 million through Start it @KBC to strengthen the Belgian startup ecosystem.

This investment also launches a new fund (the Start it Fund) aimed at early-stage financing for top-tier startups from the accelerator program, addressing a long-standing demand from founders. 

Thanks to this fund, these startups can count on capital and guidance to accelerate their growth. The very best will also have the opportunity to receive additional follow-up financing at a later stage. In this way, KBC Securities and Start it @KBC together offer a unique trajectory: from the first ideas to a potential IPO.

“Start it @KBC originated eleven years ago within KBC itself - from the same entrepreneurial DNA that lies at the core of our organisation,” says Johan Thijs, CEO of KBC Group.

“What began as a small initiative has grown into Belgium’s largest startup ecosystem. Entrepreneurship is in our genes: KBC was co-founded by entrepreneurs and stimulates innovation both outside and within the organisation.

Today, we are among the most innovative and digital-driven banks in the world, and our close collaboration with Start it @KBC fuels that ambition every single day. With the new fund, we can now truly support founders from idea to IPO: we support them not only with knowledge and a network but also with capital tailored to their growth ambitions.

Together, we are building an ecosystem where innovation, entrepreneurship, and international ambition take centre stage."

"Every year, around 1,000 startups apply to join us, a number that continues to rise. This allows us to be increasingly selective, and quality continues to grow. For eleven years, we’ve been building an ecosystem with founders, for founders. We already had coaching, community, and a European ecosystem - only one thing was missing: investing ourselves at the early stage. We are now filling that gap, at the request of founders, and in a way that centres them,” says Lode Uytterschaut, founder and CEO of Start it @KBC.

The “no equity” philosophy at the start of the Start it @KBC program remains unchanged, but the opportunity to invest is now added through a new early-stage fund managed by Start it itself: the Start it Fund.

While other accelerators offer small amounts at fixed terms at the start, the Start it Fund offers only the top 1 per cent of all applications at the end of their program a larger sum, depending on the needs and stage of the start-up. Start-ups are entirely free to accept the funding.

On average, the fund invests €300,000 at early stage, although the amount may be higher in some cases.

The very best of the selected startups also have the chance to receive further follow-up financing of up to €5 million through KBC Securities.

According to Tim Derycke, Head of Investment Services & KBC Focus Fund at KBC Securities:

“With KBC Securities, we offer not only follow-up financing but also access to the venture capital experience and technological expertise of our investment team.

In addition, KBC Securities provides added value for the further growth of companies: from M&A advice and financing solutions to guidance during an IPO.

With this integrated approach, we offer founders a unique ecosystem of support and financing – an offering unmatched in Belgium.”

Of the 1,923 startups Start it @KBC has supported since 2014, 227 have raised more than €1 million, and 122 have raised more than €2 million. Together, they have raised over €1.1 billion and created more than 12,000 jobs, making the ecosystem one of the largest employers in Belgium. 

Start it @KBC startups also perform very well in terms of survival rate: after five years, about 73 per cent still exist, compared to an international benchmark of 51 per cent for startups that raise venture capital. Among the biggest success stories are well-known names such as Aikido Security, Bolt, Loop Earplugs, Conveo, Keyrock, Segments.ai, Crazy Games, and Wondr/Planet B.