What happens if my company doesn’t make it into the Accelerator?
What are my time commitments when participating in the Sprout Accelerator?
Approximately three hours of online weekly sessions for the first 10 weeks and four full days (including travel if required) for the in-person Underground events. In the last four weeks, approximately 1-2 online hours per fortnight.
Do the companies have to pay for their own travel to the Undergrounds?
Sprout covers domestic flights and accommodation for up to two people per startup.
What if I’m not based in New Zealand?
For your application to be considered, your venture needs to offer a clear benefit to New Zealand. If accepted into the Accelerator, there is an expectation that you will attend at least one Underground event in person. International startups will need to fund their travel to New Zealand.
Will the information in my application be treated as confidential?
While we take steps to protect your information, we ask you to submit only non-confidential information in the application form. Unless there are exceptional circumstances, we don’t sign NDAs as part of the application process.
What type of funding do companies participating in the Sprout Accelerator receive?
You do not receive funding for simply being accepted into the Sprout Accelerator. Sprout will help you assess your capital needs during the Accelerator process and provide recommendations on capital strategy through the process of investment readiness (this could be during, or soon after the accelerator, or after key milestones have been reached).
What are my financial commitments to participate in the Sprout Accelerator?
There is no financial commitment and no investment commitment. Thanks to our Sprout Partners we cover the costs including domestic flights and accommodation for up to two people per startup for the Underground events. Travel costs for international startups and for more than two team members to events will be incurred by your company.
What happens after the Sprout Accelerator?
The ideal situation is you will find some interest in your company after the completion of the Accelerator. Your Mentor and Sprout can assist with this transition. After the Accelerator the goal will be to have your own team of expert advisors and directors who can support you on your growth path.
What opportunities will I have for industry connections during the Sprout Accelerator?
You will have the opportunity to meet and be introduced to a range of experienced and valuable people connected with Sprout. These people include Sprout’s mentors and advisors, specialists in key areas related to startups, corporate partners from some of New Zealand’s leading agriculture organisations, and other successful entrepreneurs among others.
How open will I need to be with sharing information about my startup during the Sprout Accelerator?
To get the most out of the experience, you will need to share information about your startup with the Sprout team, mentors, and the other accelerator participants. However, if there is highly sensitive information, for example, information relating to intellectual property, then it is common for people to avoid sharing critical details that would be detrimental to the future of the startup if shared.