We understand that it’s a big decision and you may have many questions to ask. This is where we try to provide all the answers for the frequently asked questions. If you still have other specific questions, do reach out at firstname.lastname@example.org
1. How do I apply for the accelerator programme ?
You can apply for the accelerator programme via www.eduspaze.com/apply
2. What do you need for the pitch deck?
We would like to see the following in your pitch deck:
- Business Model
- Market Size
- Competitor Analysis
- Traction & Growth
- Financial Projections
- The Ask
3. How long is the programme and what is it about?
The accelerator programme is 100 days.
Cohort 2 will start on the Jan 2021 and end in May 2021.
4. What is the programme about?
We have designed the programme to be inclusive and to accommodate teams from overseas. Teams that are accepted into the programme will spend about three and a half months focusing on the following larger topics:
1. Education (as a business)
2. Evidence and Impact
3. Business Development + Overseas Market Access
4. Funding and Investment
5. Pitching and Demo Day
We see that the ED is as important as the TECH.
5. Do we need to be physically present in Singapore for the duration of the programme and how much time will it take from us?
We usually advise the companies to have a presence during the programme. The most ideal case would be to have the founders attend the programme, but if that is not possible, at least one of the founders or one member of the management team should be present for the workshops and events. Founding team / management must participate in at least 75% of the programme.
Given the COVID19 environment, we are adjusting the programme to be fully virtual for Cohort 2. You do not need to be in Singapore, it can be done fully virtual. Founders / management team must still participate at least 75% of the programme.
The programme will take approximately 8 – 10 hours per week from each teams’ calendar. In case one wishes to use more time, for example with mentors, then it is up to each individual team to do so.
6. What stage should our company or product be, in order to get accepted to the programme?
We are looking at seed stage companies. The product must be ready and with some traction and sales revenue.
7. Can companies outside Singapore apply
Yes. This is a global programme, we accept applications from all countries. Ideally companies with strong interest in Southeast Asia and the Asia Pacific region, where our focus and overseas network partners are.
8. Can you help us incorporate in Singapore
Yes. We are familiar with the incorporation process and will guide you along.
Singapore has also consistently been ranked in the top by World Bank for ease of doing business, it’s relatively easy to incorporate here. We are also supported by Enterprise Singapore and will be able to bring in relevant support when necessary.
9. Does EduSpaze invest into the companies that are accepted into the programme?
Yes, we will invest in the companies that are successfully accepted into the accelerator programme. Investment amount ranges from S$50k to S$500k.
10. What are the investment terms like?
We are mindful to have founder friendly terms, and to be inclusive for companies of various stages and maturity. We will invest up to S$500k through a convertible note, with a cap based on your current valuation. This is to reduce the need for multiple rounds of share issuance within a short period of time. We will convert at the next round after Demo Day, with the next round of investors, that we will help to bring in during the programme and on Demo Day.
11. Do you charge for the programme?
Yes we do, but we think that it is expensive to giving away the usual 3% – 6% as part of a programme fee and so we do not take equity for participation in the programme. Our investment is done at your valuation like any other priced round.
We charge a programme fee to offset the cost of running the programme for the things provided below in #12. This amount will only be invoiced after the initial capital injection and there should not be any out-of-pocket cost for the programme.
12. What is provided for during the programme?
During the accelerator programme, we will provide the following:
- Training Workshops
- Overseas market access as part of the programme (Virtual engagements)
Airfare, accommodation for overseas trip / programme (2 pax)(Cohort 2 will be virtual)
- Networking Events + Connections to schools and partners
- 1-to-1 clinics
13. Can you help with Visa applications?
We are an accredited mentor partner to Enterprise Singapore and MOM, and we will be able to help you with the application of an EntrePass.