Estonia-based company, GameFounders, has just opened their wallets and hearts to European Game Startups. GameFounders says that they are the first European accelerator to focus solely on game developers. They're offering an investment of 15,000 euros in exchange for 9-percent of the company.

You don't need to have an already-formed company, as long as your team is willing to incorporate after it joins GameFounders. The accelerator program is open to any form of game, as long as it has already launched, even if the game is in its beta stage. The website does note that "it is more likely at the moment for mobile games to get investments".

The best thing about it? It's not limited to Estonian companies:

For a start, Estonia is probably the easiest place to start a business. You count the time time you need to establish a limited company in minutes, the time you need to open a bank account in hours and the time you need to get all the other paperwork (VAT numbers and such) in days. And when you have spent those few days to get the business up and running, there is an abundance of funds, both local and EU, available for you to boost your business.

Who's behind this magic? Well, Kadri Ugand, Lauri Antalainen, Sven Illing, and Paul Bragiel. Out of those, Bragiel is most likely the most recognizable name, at least to those based in the US, as he founded Lefora and is currently a partner with the San Francisco-based incubators i/o. GameFounders also says that they have a network of more than 60 mentors, from the US and Finland, mostly. The application deadline for the three-month program ends on July 10. You can read more, and apply, at the GameFounders site.