Frequently Asked Questions
What types of startups are best suited for the Sprout Accelerator?
Sprout is looking for early-stage startups that have novel innovations related to agtech & foodtech, and have global potential. We are well-positioned to help these startups on their journeys to grow globally.
Why should I apply for the Sprout Accelerator?
The better question is, why would you not? The Sprout Accelerator is funded for you by our amazing partners so that you can make the most of this opportunity to advance your startup. Take your chance to get involved and go for it. The ambition to get stuck in and not miss an opportunity is a sign of being a true entrepreneur.
What is the selection process for the Sprout Accelerator?
Register to receive the application form,
Complete and submit your application,
Sprout reviews applications,
Sprout selects a range of companies to pitch
Selection pitches
What happens if my company doesn’t make it into the Accelerator?
The Accelerator team will be in touch to advise the next steps. Also, you can stay in touch with Sprout via our newsletter or social media. You are also welcome to reapply for the Accelerator when the next application period opens. See the dates for our Accelerator intakes here.
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.
I haven't completed the Accelerator but still think I have an investable opportunity for Sprout. Can I apply for Sprout investment?
Although the Accelerator is a great way to improve the investability of your company and get to know the Investment Team, companies do not need to have completed the Accelerator to be considered for investment. Please contact our Investment team for more information.
What kind of companies does Sprout invest in?
Sprout invests in early-stage companies developing transformational technologies for people and our planet.
We invest at the pre-seed stage, meaning that our companies are pre-revenue and have not taken on significant equity investment prior to Sprout. It’s never too early to get in touch however, we are happy to discuss what’s needed to get your company investment ready.
The technologies we seek to invest in are unique, novel, (typically research-based) innovations with strong potential for IP protection. These innovations should be aiming to address large, globally relevant market opportunities. Sprout only invests in NZ-based companies. Contact our Investment team for more information.
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