The end of 2015 market also the end of the financing for start-ups in Bulgaria under the JEREMIE initiative. Local accelerator and seed funds Eleven and Launchub were picked to manage the funds from JEREMIE's Entrepreneurship Acceleration and Seed Financing Instrument. A total of EUR 21.0 mln was allocated to the two funds, which had to invest them in Bulgarian start-ups in the 2012-2015 period.