Industrio Hardware Accelerator - Class spring 2014
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Industrio is a hardware startup accelerator in Italy that supports exceptional teams in developing innovative physical products, primarily in mechatronics, electronics, and smart systems. The program offers selected startups a seed fund, access to a state-of-the-art facility, and guidance from a network of over 30 mentors for a 6-month acceleration period. Applications for the spring 2014 program are open, and the startup must be based in Trentino if accepted.
Industrio Hardware Accelerator - Class spring 2014
- 1. Hardware Startups Accelerator We bring you from prototype to product Applications for Spring-2014 Acceleration Program are open! http://www.f6s.com/hardwareacceleratoritaly-spring2014
- 2. WHAT WE ARE UP TO Industrio is a Hardware Startups Accelerator. We invest in talent teams to create successful products that address emerging issues and global opportunities. We are looking for exceptional teams that want to change the world through a physical product (not purely software) particularly in the sector of mechatronics, electronics, connected devices, smart systems. Selected startups receive a seed fund (15% startup stake), access to an advanced facility for hardware development in Italy and leverage a worldwide network of mentors and business partners.
- 3. OUR OFFER 24 €15k €35k WEEKS Acceleration program From March to September 2014 in Italy CASH per team PROTOTYPING SERVICES & MATERIAL from great industry partners
- 4. WHAT WE ARE LOOKING FOR TEAM You need to have a consistent technology background and your team has minimum 2+ co-founders. DISRUPTIVE TECHNOLOGY We are looking at disruptive technology applications. From the idea to the prototype, we want to see a breakthrough potential in what you want to build MARKET OPPORTUNITY Your startup have to address an international, big and growing market. Doesn’t matter if your product is for B2B or B2C: we want to see big numbers in what you are proposing.
- 6. OUR OFFER CAPITAL 15.000€ Cash for the team 35.000€ Prototyping budget to develop your hardware 15% Stake in the startup + MENTORS 30+ Mentors & Partners + TOOLS INDUSTRIO WORKSHOP 24/7 access to our labs
- 7. HARDWARE LAUNCHPAD We offer to startups the best, most advanced and convenient technology platform in Italy to prototype and validate you first products faster, better and cheaper with local and international partners. ANALYTICAL INSTRUMENTS METALIZATION PROBE STATION MEMS FACILITY OCSILLOSCOPE METALCOATING SCREEN PRINTERS DIGITAL MULTIMETER CNC MACHINES LYTHOGRAPHY CUTTING TOOLS STEREOLITHOGRAPHY IR CAMERA 3D LASER SINTER 3D PRINT FDM
- 8. FROM PROTOTYPE TO PRODUCT TECHNICAL PARTNERS INVESTOR PARTNERS INDUSTRY PARTNERS
- 9. TRENTINO We live and operate in one of the most brilliant, rural and innovative community in Italy and Central Europe. Here Industrio is building its facility and attract every year the best mind and talents worldwide working in hardware technology. Here things born strong, and we want create great hardware startups.
- 10. THE TIMELINE SPRING BACTH 2014 Deadline 1st December 13 – 31st January ‘14 Open Call Startups Screening Program Middle February ’14 Bootcamp (4 days in Trento) 1st March ‘14 Program begins 30th August 14 End of The Program Demo Day September 14 Demo Day 15
- 11. Hardware Startups Accelerator We bring you from prototype to product Applications for Spring-2014 Acceleration Program are open! http://www.f6s.com/hardwareacceleratoritaly-spring2014
- 12. FAQ/ACCELERATION PROGRAM SPRING-2014 Application /1 Q: Who’s eligible to join Industrio? A: Candidates must be 18 years or older, and have an idea, a prototype or existing early stage startup that is innovative and has the potential to scale. The industrial sectors Industrio focuses on are: mechanics, mechatronics, electronics, microelectronics and smart systems in all market applications from agro-food, to mobility, health and energy. Q: Can I apply if I’m not from Italy? A: Sure! Teams from all over the world apply. We can help you with getting settled into Trento as well. Q: Can you get us visas? A: No, however we can help you with this. We will deal with it on case by case basis. Q. Can I apply as an individual or do I have to have a team? A. It is recommended that a team of two or more apply though we will accept individuals. Startups are generally a ‘team sport’ and in some cases there may be more than one person interested in commercializing the technology. We strongly recommend that you try and team up with others that are interested and form a team that will become a startup founding team upon successful acceptance into the program. Q: If I have a team of cofounders, should we submit one online application or more? A: Only one application per team is needed but please include personal and contact information for all team members. Q: Should we open the company in Trentino before applying? A: No, you are not required to have a company in Trentino or in Italy for applying. If you are admitted to the program, then you have to open the company in Italy. 1 2
- 13. Application /2 Q: I already have funding. Can I still apply? A: Yes. In your application, please specify the nature of your previous funding. Q: Will you sign a non-disclosure agreement (NDA)? A: No. We look at hundreds of business plans each year, we do not sign NDAs. However, we will work with you to find the balance between understanding your company’s unique advantage without requiring you to divulge proprietary information. In your application, please avoid disclosing any technical information that you consider to be your "secret sauce”, but be as clear as possible about your competitive advantage. Q: Do we have to start a company in Trento for you to invest in us? A: Yes, we will help you to do that. Q: Do we need to send in a business plan? A: No! We want to know who you are. Just fill out the online application here http://www.f6s.com/industrio - that s all we need! Q: What is the application process for Industrio? A: After submitting your online application, here is how the process will take place: 1. Validation: Industrio will evaluate all the applications received according to a process that considers the innovation potential, the technology and the applicable industry, the market opportunity. Teams passing this first selection will be invited to a bootcamp that will take place in Trento in February; 2. Selection: startups taking part to the bootcamp will present their product, work with mentors and get to know Industrio better. After the bootcamp Industrio will choose the final startups that will participate to the Program and receive the seed fund; 3. Acceleration: selected startups will start working on their project inside Industrio, will receive a seed fund and will have complete access to an international network of mentors, entrepreneurs and investors. Let’s rock! 1 3
- 14. Application /3 Q: Once I submit my application to Industrio, will I hear from Industrio? A: Yes. ALL candidates that apply to Industrio will receive an email or telephone call from Industrio within 2 weeks following the application deadline. Q: If our team is not selected, will we receive feedback about my idea? A: Yes. Our team is small however we do the best to give individualized feedback. Q: If our team is not selected, can we apply again? A: Absolutely. Sometimes a rejection is due to the startup being a little too early and without enough traction for our program. Whatever the case, we encourage startups to learn why they were not accepted so they can work on those things and potentially apply again later. Q: What are the standard Industrio terms? A: Our standard terms are that startups accepted into Industrio receive initial seed funding of up to €50K (with 15k€ in cash for team and 35k€ to use for product dev.); 6 months of intense mentoring and expertise from our extensive network; a dynamic workspace; potential introductions to outside investors and more. Startups receive all of this in exchange for a max 15% startup stake. After the 6 months acceleration program, it is possible to receive additional mentoring, support and resources (including office space) from Industrio. That offer is available at Industrio s sole discretion, and will be determined based on a team s progress during the previous program. 1 4
- 15. Program /1 Q: What if I need more money to launch my company? A: A key component of Industrio is also the Demo Day. On Demo Day, you present your product and company to VCs, angel investors, private investors and other public and private funding sources. During Industrio, you will work with a Mentor who can help you create and refine your pitch. Q: Will I get additional funding at Demo Day? A: If you need it, we sure hope so but that will depend on how good your idea is, how much progress you have made, how impressive you are, and whether there is a fit with a particular investor or group. We will help you get ready (to the extent you want our help). We give you a stipend, help you create the right legal and accounting structures, provide you ongoing guidance and help you create and refine your presentation. Demo Day will be attended by a large variety of early stage investors and other funding sources. The rest is up to you. Q: What do you provide? A: Everything you need to get to the next level, and more opportunities than you will ever believe. While you’ll spend most of your time developing your product and business, we will also provide you with a pretty packed schedule of guest speaker presentations, one-on-one office hours and feedback sessions with mentors and other teams. You can count on being surrounded by smart people, having office space, access to meeting rooms, Internet and a network of facilities and tools to prototype and accelerate your product. Q: What is a typical day like at Industrio? A: Every day is different, but you ll spend the majority of your time developing your startup, building your Minimum Viable Product, interviewing customers, researching competitors testing the viability of your concept, prototyping your product with our industry partners, developing your brand and nailing your pitch. You ll receive real-time mentoring, training, expertise, technology prototyping support and other great perks from our extensive network and family of companies. You ll also can attend great startup events, and you ll become a part of an incredible family of companies. 1 5
- 16. Program /2 Q: Who are the mentors? A: We have handpicked our mentors based on their expertise in specific fields. We want to ensure that you get the best advice throughout the program that will ultimately help you succeed and we are extremely confident that our mentors will do just that. Take a look at our Mentors page on industrio.co Q: How much access will we get to the mentors? A: The mentors will be coming in and out of the space at periodic times. We'll be working on setting up office hours so everyone can get some one on one time. There will also be opportunities to ping people via email or our forum. Q: What is the role of the other partnering organizations? A: As a Industrio firm, you will have access to an extremely wide support system; the available services and tools are listed in the catalogue. Q: Where do teams live while they re there? A: We will certainly provide guidance to help you find a place to stay, but you re mostly on your own with this one. The good news is you can absolutely count on affordable living in Trentino. Q: Do the team need to be there for entire time? A: Yes. We understand there may be last minute unusual circumstances that change things, but you are expected to spend the 6 months in Trento. Q: If I am accepted into Industrio, do I need to headquarter my business in Trentino? A: Yes. If you are accepted into Industrio, the startup that we help you to launch must be headquartered anywhere in Trentino (we suggest in Trento or Rovereto), and the business must pay all applicable regional taxes. 1 6
- 17. After Program Q: What stage should do you expect my company to be in at the end of the six months? A: The program will focus heavily on the concept of a Minimum Viable Product (MVP), prototype and the final product. By the end of the program we expect you to have boiled your business or product down to its core components, build them, launch them and begin to integrate feedback from potential and actual customers. Revenue should be a real possibility if not reality. Q: Are there any obligations after the program? A: No. Though we do hope you continue to be an active member of the Industrio alumni group. Even after the program, the resources of the Industrio are still at your fingertips – including helping you find investors and mentors. You don’t have to stay in Trento (although we would love you to). Ultimately, we are building a strong community that you are part of for years to come and hope you are looking for the same thing. Q: What happens if our company fails? A: We recognize that not all startup companies succeed. While we want to give you every chance for success, sometimes market and customer feedback says otherwise. In that case, it’s better that you had the opportunity to find out earlier, and more cost-effectively, than you might have otherwise. Whatever happens, we believe that your experience at Industrio will be extremely valuable for your next venture. Q: Are we required to stay in Trentino after the program? A: Absolutely not. We advise you to live where you can best realize your business and goals. 1 7
- 18. General Q: Who’s behind this? A: Meet our team, and see our growing list of amazing partners (www.industrio.co). Q: How is Industrio different from Angel Investors and VC firms? A: Most other funding sources have been moving upstream, looking for companies that have at least a beta/prototype, a business plan, and some structured idea where they are going. We are looking to become involved earlier then that. We are looking for great ideas and great people and will help develop great companies around them. Q: Can any of the information about Industrio change? A: Yes. The information provided on our website and on all other Industrio materials is likely to change. The information provided represents plans at this point in time. Q: Why is Industrio based in Trentino? A: To be small means great things. Trentino is the ideal destination for international business with the high quality of life and authentic experiences, research and innovation activities. Trentino is a leader in sustainable building and renewable energy, the cooperative movement and international solidarity with the rich industry heritage. Q: Help! I was not able to find my answer here! A: Feel free to email us info@industrio.co to get your question answered. Due to the volume of emails we receive please be patient with us. 1 8
- 19. Tips for your Application • We are looking for hardware startups, so if your product is purely digital we are not interested. • Eliminate marketing words. It is best accomplished by being specific and thorough. • Explain the idea clearly. Not everyone is an expert in your space so you need to be able to distill the essence of the idea. Your idea may be great but if we cannot understand it, we cannot fund it. Using analogies may help. i.e. we are going to be Facebook for the enterprise space. • Complete your application (including the video). If you do not take the time to finish your application we will not take the time to read it. • Demonstrate thought. We rifle through hundreds of these twice a year. If your application seems half-assed or lacks the components to be a well thought out business idea it will not be successful. • Demonstrate scalability. Industrio starts with a 6 months sprint that is meant to get you VC investor ready. This means your business has to be at a point where it can move and move fast in a market with a lot of upside. • Focus on the team. We get a lot of questions about the stage at which people should apply to Industrio. The best answer is “it depends on the team”. If you have a killer team we are more likely to look at an earlier stage than someone with a good team. • Be confident. At this stage, you are your company. If you don’t look like you believe in what you are doing then neither will we. • Be honest. We will do our homework and will dig up anything that does not pass the sniff test. Making yourself appear bigger or smaller than you appear is frowned upon. • Try to get on our radar. We take special care to look at companies that come through our warm referral networks. Reach out to one of our partners or to us specifically to ask questions or talk about the program. You might even consider visiting the office. If we remember/have some insight into who you are and how you operate we can be more confident in our judgment of your application. 1 9