Deadline: 15-Dec-22
Applications are now open for the International Accelerator (IA) Program to focus solely on foreign-born entrepreneurs seeking customer access to U.S. markets and funding.
Its program is customized for each startup and includes free housing and office space, access to seed capital and VC funding, customer acquisition, quality mentors, strategic workshops and service providers.
Founders are invited to reside and office with them in Austin, Texas – the fastest-growing tech hub in the United States.
Incentives
- Fiscal Incentives: Funding, up to $500K per team
- Special Incentives
- Free Housing & Office Space
- Free Legal & Immigration/Relocation Support
- Free Incorporation in Delaware & Texas
- Support and guidance from their strong network of mentors and industry leaders
Eligibility Criteria
- Startups must have at least an MVP with some early market validation or traction
- A unique product addressing a specific, unfulfilled need in a large and growing U.S. market
- Startups must address solving a significant pain point in the market
- A confident and coachable management team with a high level of business and technical knowledge of the product and its market
- A business model with an accelerated monetization strategy
- A founding team with at least one foreign-born employee committed to moving to Austin, TX
- They focus on helping foreign-born entrepreneurs, one of which must have 15% equity, who want to launch an innovative startup in the U.S. They must be English-speaking and have plans to send at least one cofounder to Austin, Texas where their accelerator is located.
Procedure Post Submission
- Staff selects from shortlist of applicants
- Startups sign IA termsheet
- IA team conducts thorough due diligence
- Mentors and other advisors help review
- IA’s Investment Committee makes final decision
- Signed formal agreement and stock purchase agreement in order
- IA helps incorporate startup in Delaware or Texas
- Startup and IA negotiate the timeline for the move to the U.S. and start the launch plans
- The program takes place over two 6-month phases. Phase 1 includes relocation and Visa assistance, company incorporation, and developing and executing a U.S.- centric investment and growth strategy. IA Mentors assist portfolio companies in strategic planning, networking, and customer acquisition. Phase 2 focuses on scaling and growth. At this stage, IA will identify potential investors for your startup. Investment is usually done through a SAFE instrument.
For more information, visit https://www.startupindia.gov.in/content/sih/en/ams-application/accelerator-program.html?applicationId=60c7c4b2e4b027c65da20489