Deadline: 12-Jan-23
Startup Wise Guys is seeking applications for its XR Accelerator Program which is designed to equip startups that help to build the meta world with everything they need — to grow, reach maximum potential, and stay for the long haul.
- What: A 20-22-week hybrid accelerator program that requires your onsite presence for 6-8 weeks.
- When: The program runs from February 13 (2023) to June 30 (2023). Applications open from October 18 to January 12.
- Where: Wise Guys XR will be hybrid so they’ll be online and offline. While onsite, you’ll get to enjoy their busy yet cozy spaces.
12+ Focus Areas. 4 Blueprints. Tailored Approach
While the program comes with a fast-paced intensive setup, you will get to have one-on-ones with their mentors, coaches, and guest industry experts.
- Sales & Traction Building
- Refining your sales strategy
- Finding the right target markets
- Assessing your audience potential
- Creating a futureproof marketing strategy
- Pitch Training
- Learning how to pitch to various investors—from business angels to VCs
- Perfecting your pitch deck and pitch delivery
- Learning how to develop a data-driven pitch and handle the Q&A
- Company Building
- Building a strong dedicated team
- Setting KPIs and goals: various frameworks, tracking, company-wide onboarding
- Customer discovery: how to find the right target market & audience
- Determining your startup’s key strengths and unique value proposition
- Future-Proofing For Success
- Defining a 12-month development roadmap across tech, sales, and overall business strategy
- Ins and out of fundraising: strategy, determining your needs, networking, and investor management
- Unique exposure to SWG’s wide network of VCs, investors, commercial partners, and alumni
Benefits
- Grow your startup and get funding: Get up to €100,000 convertible investment (70K cash + 30K program) + €250,000 as a follow-on opportunity
- Build a sustainable business: Learn about the latest business, marketing, sales, and investment trends within the industry and set your startup for long-term success
- Get support from top mentors: Get access to the top industry experts and practitioners, as well as hands-on support to all things business development
Eligibility Criteria
- Extended Reality has been on the map for a while now. And here at SWG, they do believe it’s the future. So they lend their hand to startups that can get us all one step closer to the metaverse. This is a super intense acceleration program developed for more mature startups. Here’s what you should have in place if you want to be a part of this amazing acceleration journey:
Startups representing these sub-verticals:
- Augmented Reality
- Virtual Reality
- Mixed Reality
- 3D and graphics tools and marketplaces
- Metaverse
- Spatial Compute
- Phygital
- Visualisation and interfaces for Web3
- Machine vision and learning within the XR field of implementation
Startups meeting these selection criteria:
- B2B focus;
- A team of at least two founders;
- A working MVP (minimum viable product);
- Initial traction (can be shown through MRR, paid pilots, one-time payments for product test/usage, etc.);
- Global ambition;
- Free spoken English as the entire program will be run in English.
Are there any Geographical Restriction?
- Overall there are no restrictions except for Russia or Belarus-based companies.
- You have to take into account that the workshops, mentoring sessions, and other program activities will happen according to the CET time zone, so you might have to adapt to this schedule.
- Also, it’s a hybrid program with online and onsite modules, therefore, if there are no Covid related restrictions, some parts of the program will happen onsite at their Malaga office, and you’ll be expected to be there.
- Startup Wise Guys does not and will not invest in Russia and/or Belarus-based companies (or companies that have business activities in Russia and/or Belarus and/or any other company which has management bodies and/or beneficial owners in Russia and/or Belarus). Nevertheless, they do support Russian- or Belarusian- origin startup founders who actively oppose Putin’s aggression and his regime.
Selection Process
- After the submission of the application to the Dealum, the Scouting team evaluates the application for eligibility. It can take up to 2 weeks for them to get back to you after they have received your application.
- If the application fits their criteria they might ask you additional questions and invite you to take part in the pitch day to present the business to SWG General partners and team members.
- Pitch day is an internal event to evaluate the business idea and meet founders face to face, after the pitches SWG team decides how to proceed with the application. Decisions are: move forward with Due Diligence, offer Wise Guys Pre-accelerator program, reject or stay in touch until later.
- Due diligence process includes: the Tech call, Managing Director call, Partner/ expert call, and the Deal call.
- After the startup has successfully gone through the due diligence process they are invited to the Selection Bootcamp.
- TOP 10-12 teams are selected to participate in the acceleration program.
For more information, visit https://startupwiseguys.com/xr/