Frequently asked
questions

World Startup Factory Impact Accelerator 2017


World Startup Factory is dedicated to help founders build successful ventures with positive impact by investing, exploring and learning together.

Why should I get excited about World Startup Factory?

We will assist you in building a great company around your team, help you make tough decisions when needed and even have a shoulder for you to lean on during tough times. Our personal touch and hands on approach is something we take pride in.

World Startup Factory is all about creating shared value, we are about helping startups grow into thriving businesses. Some of the ways you could benefit by participating are one-on-one sessions with experts, personalised mentorship, extensive network access, peer-to-peer learning, rent-free flexspaces, investment and deal making readiness/support. We have your back!

Is World Startup Factory really different from other Startup Accelerators?

Yes, and we can’t wait to tell you more. Our core added value is getting the right people on board. We believe nowadays’ markets, technologies and challenges ask for strategic collaboration on every aspect of a venture. There are 3 main things that underline the uniqueness of our approach:


1) Active involvement of all our stakeholders: For example, our partners help us finalize the focus areas of each vertical, take part in the selection process, and most of our startups are able to validate their products and services with our partners.


2) Tailored acceleration for your startup: We’ve designed a 80:20 program, where 80% of the program can be personalized according to your priorities. Together with your journey mentors, we will advise you on how to get the best out of the process. The aspects of the program are created to speed up the realization of your plan. The growth of your company and the acceleration are not two different things!


3) Unique mentoring set up: Each startup will be matched with a journey mentor, who will advise you on everything you and your team are doing. Everyone wants a piece of the action when they see a great business. This only leads to confusion. We stand by the saying, “Too many cooks spoil the dish.” So we keep it simple by matching you with a helpful and dedicated mentor.

Who is the World Startup Factory Impact Accelerator for?

See if you agree with our philosophy. At World Startup Factory, we align our efforts to enable networked ecosystems in order to deal with the bigger problems and contribute towards the United Nation’s Sustainable Development Goals. Our bets are on the jockeys with utmost dedication to come up with scalable and innovative business models to address the needs of our communities. Ideally our potential startup partners would have something tangible to show for – at least a working prototype. Below are our 5 easy to understand screening criteria. Do you qualify? We encourage you to apply by clicking here!  

  • You have an impact-driven mindset
    … to solve an undeniably important problem
  • You have a dependable team
    … of at least 2, committed to making the startup a success
  • You have a compelling business case
    …addressing a pressing market need
  • You are at a stage
    …where you at least have a prototype or a Minimum Viable Product
  • Your proposition is scalable
    …to other sectors/applications, cities, countries or regions.
What does the Acceleration program look like?

World Startup Factory sets up a lively environment where startups can gain industry-specific insights, connect to both local and international hubs, validate their ideas with potential customers and strengthen their business cases day by day.

Here’s a bird’s-eye view of the 6 month program, which is divided into 2 parts of 3 months each. The first half consists of 3 phases: Check, Plan & Act. While the second half consists of a single phase, Growth. The program is like a series of ‘design sprints’. It helps speed up overall development while prioritizing time and resources through 4 phases.

  • Check – ‘Getting a common understanding on the status quo and priorities’
  • Plan – ‘Strategizing priorities and defining compelling user cases’
  • Act – ‘Establishing a rich breeding ground and pursuing user cases’
  • Grow – ‘Ready for Sustainable Growth’

Based on the maturity of a startup team, it can pursue each phase chronologically, rush through a phase, skip a phase, take longer to address a specific phase and revisit a phase after a sprint. It’s that agile and demand driven.

Can you tell me more about your selection process?

Of course! We have 3 simple yet through selection rounds. We trust this will give us the best chance to connect and get to know you, while allowing you to judge for yourself if we are the right fit for you. Just by taking part in the selection process, you’ll have a lot of actionable insights even before the start of the official partnership. See below for a step by step guide:

Selection round 1

Step 1: Check if you qualify the screening criteria.

Step 2: If you tick all the criteria boxes or expect to tick them in the next few weeks, apply via F6S at the earliest possibility.

Selection round 2

Step 1: Receive initial feedback. Complete a more elaborate information form and make a 1-minute video about your product, technology or platform.

Step 2: Get invited to the next World Startup Factory Acquaintance Days.

Final selection round

Step 1: Bring your A game to World Startup Factory Acquaintance Days.

Step 2: Help us run a smooth due diligence process.

Step 3: Get psyched about the invitation to join the World Startup Factory Impact Accelerator!  

Arrange your visa, flight and housing if necessary. Become ONE OF US!

When and where can I apply?

You can apply anytime between 30 May and 24 September 2017. However, it’s important to note that the applications are on a rollout basis: the sooner you apply – the sooner you can get to know the result and even start with us. You can apply here by answering 10 simple questions. It will redirect you to our application form on F6S. Once we have our 25 startups (5 per vertical), we’ll stop looking. Why accelerate tomorrow, when you can today?

Do you have some advice on the selection process?

Yup. Read our blog on tips to go all way in the World Startup Factory selection processWe wish you good luck and hope to receive your application soon.

Is it possible to visit you?

Absolutely! You can drop a line to aditya@worldstartupfatory.com and visit us every Wednesday, 11:00 – 12:30 during our open hours called “Startup Coffee”. You are also welcome at our open events (check the schedule here).

What are the World Startup Factory Acquaintance days?

The startup teams that make it to the final round will be be invited to World Startup Factory Acquaintance Days (please check the dates below). These days are designed for you, World Startup Factory team and some of our important stakeholders you’ll work with later during the program to get to know each other better. In essence this is a carousel, where you’ll be talking to various people and get first hand 360° feedback on several topics.

  • Founders of World Startup factory: Getting to know the team and the story
  • Industry leaders: The business opportunity and potential
  • Journey mentor: The fit with the program
  • Investment mentor: Investor readiness and possibilities

 

 

All of them will be prepared with the elaborate information form you will have filled-in and the 1 minute video you’ll make as part of selection round 2. So expect these conversation to be detail-oriented. Following the carousel and a short break, you have a fireside talk planned with the World Startup Factory team where you can get all your remarks about the program answered. By participating in these sessions, we hope you’ll receive quite some actionable insights that you can work on even before the acceleration program begins.

World Startup Factory Acquaintance Days: 24 August and 21 September.

When can I start the Acceleration program with you?

Fast track program (rollout basis between 1 July and 24 September): Apply early and start early with the Fast track. This is done on a rollout basis, which means once a startup goes through the selection process where both us and the startup see the fit, we start with the acceleration asap.

Batch Acceleration program (14 November): Several startups, we believe, get the most of the acceleration program when working in tandem with fellow startup teams. They can benefit more from peer-learning and possibly even create synergies with other entrepreneurs.

For both categories, we’re open for applications between 30 May and 24 September. It only becomes clear during the selection which is appropriate for your team. 

Do you have a Fast track program?

Yes, we do. Please see the question “When can I start the Acceleration program with you?” and “Do you invest in the participating companies?” for more information.

But what if I don’t get to the next round? Is it the end?

No, don’t be disheartened yet. Some of you might get feedback, which if worked on, there’s still a possibility of joining the program. Please note that if we see no fit for you with the accelerator, you’ll receive an explanation for the decision.

Do you invest in the participating companies?

Yes. In most cases we invest 15k euro in return for 8% of the company’s equity. Some rare cases, like where the companies has a couple of paying customers and/or has investors on-board, we are willing to negotiate within reason. It’s always a single digit equity stake we take.

We’ve already taken some funding. Can we still apply?

Yes, that is not an obstacle for us. We have done this in the past and don’t see a reason why not again in the future.

I am an international founder. What support can I get with moving to the Netherlands?

Quite a few of our startups are international. We have partners who’ll advise you on taxes, subsidies, patents, banking and even help set up your Dutch entity among other things during the acceleration period. Earlier this year we also attained the status of Startup Visa facilitator, which will allow us to assist international teams with getting their residence documents. Our entrepreneurs have always independently arranged the housing and travel by themselves, with some suggestions from our side.

Can you help me with getting a startup visa?

Yes, in fact we have a legal status of startup Visa Facilitator, which means that we can assist international teams with getting their residence permit.

I am really interested in the acceleration program but I don’t tick all the 5 boxes with the criteria. What do I do?

Please write to aditya@worldstartupfactory.com with subject “<name of the startup> | Screening criteria qualification”. Let’s see if we can work things out.

When is the Startup Coffee?

Our doors are open for Startup Coffee every Wednesday, 11:00-12:30. Please notify Aditya with aditya@worldstartupfactory.com in case you would like to join.

Do you have more questions? Ask Aditya aditya@worldstartupfactory.com

ana@worldstartupfactory.com

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