Amplifi Paperclip Accelerator



FAQ

Amplifi - Paperclip accelerator programs run twice (or thrice) a year for 12 weeks. Our first program in India started on 21 March 2016. The first cohort has graduated and are in their fund-raise meetings post Demo Day. The next cohorts including Hong Kong (for which applications are now open) start early September 2016. However, we may choose to postpone any location at our discretion.
No. We make no direct investment. However we prepare you rigorously and get you to pitch to our affiliated angel investors and seed/VC partners on demo day at the end of the program to raise (typically) your first round of external funding.
While this program is primarily for startups that are looking to accelerate their go-to-market and success by raising an angel or seed round or in some cases seeking help to raise a pre-series A or series A round, we are open to startups that do not require funding and who just want to access our knowledge, mentors and ecosystem for a Tuition Fee of US$5,000 per startup for the 3 months program.
We work with all kinds of B2B SaaS startups. A big focus of our program is helping to accelerate the go-to-market process from idea to product, so our selected companies need to have already formed a limited company, have a full time founding team and ideally would have started work on the prototype. We only accept pre POC or pre revenue startups that are looking to build global SaaS products/ventures from India and Hong Kong. The core focus for each startup should be “Enterprise SaaS for Asia, SMB SaaS for US”.
Very, very rarely. In general, it takes a minimum of two co-founders to take advantage of all the resources we offer while still building your business and achieving key milestones throughout the program. Every week we will run masterclasses and workshops while also arranging meetings with our corporate network. While one founder attends these, the other founder focuses on the build. Which is why we need a minimum of 2 founders.
Your chances of being accepted are much higher if you have a technical co-founder on your team.
For Hong Kong, it is midnight of August 31, 2016. We will review every application that we receive, but we strongly encourage you to submit your application as early as possible to give us more time to read and reflect on your materials.
Once you submit your application, you can no longer edit your answers.
We'll invite the top 15-20 teams that seem most promising to pitch us in person at the pitch event @ Cyberport. If you’re not based currently in Hong Kong, you will be required to travel to the pitch location for the event. This will be tentatively end of August or early September 2016 and the teams will have to bear all the travel and related expenses. For visas pertaining to your country of origin, please read http://www.immd.gov.hk/eng/
Each selected team will be updated within a week of the the pitch day or even on the spot. The selected teams have to sign the Agreement with Amplifi-Paperclip. The teams are expected to move into the accelerator venue by 15th September 2016.
Yes, the selected startups will be provided with free seats (up to 2 per startup) at Smart-Space 3C, Level 8, Core F, Cyberport 3 @ https://www.cyberport.hk/en. The reasoning is that you will be need to be on-location to take advantage of the specialised programming & resources for these programs and also to interact with other startups in the cohort. Please note that only the seating is free and other facilities availed have to be paid for.
For idea or pre-prototype startups in the portfolio, we take 1.5 % advisory sweat equity upfront. For startups that have are product-ready with or without POC, we don't take any advisory sweat equity.
All startups in the portfolio (irrespective of stage) that raise funding from our investors on demo day pay us typically between 2% - 4 % of funds committed. We also have an option to invest up to 50% of the fees due back into the startup for equity on the same terms as the angel/seed or pre Series investors.
In return we provide access to the ecosystem (mentors,customers,investors), hands on guidance & advice (business strategy, business pitch, sales, marketing, go to market strategy, preparing a solid pitch deck and how to pitch), arrange workshops, masterclasses, and organise events & other activities and bring together relevant investors for Demo Day.
The reality is not every startup will be able to raise money on demo day. We will help the startup in finding out the reasons for the same and continue to connect you to investors even after demo day. You can also get to pitch on the next Demo Day. However, you will gain invaluable knowledge and branding from the program, and you would have connections to some of the smartest people in the business.
Each startup is assigned a lead mentor who can get up to a maximum of 2 % as mentor equity. Startups can choose to appoint other sub-mentors and offer them between .25 to .50 % equity and some mentors can be issue based (hourly $100 ; paid post funding). We will help with the agreements between startups and mentors.
Yes. Especially if you are looking to pivot and / or take advantage of our ecosystem to grow faster. You may then want to consider the Tuition Fee (See Above).
No, you will have to wait for the next cohort applications to be opened..
Please don't take it personally. We encourage you to consider re-applying in the future. In the meantime, keep us updated on all your progress. If you got to the final interview stage and weren't selected, we'll give you honest feedback on why you didn't receive an offer at this time.