program
Frequently Asked Questions.
Got a question about our program, application process or something else? Check here first to see if your question has already been answered.
Otherwise, contact us and one of the team will be happy to answer your question.
INVESTMENT
Will I receive investment?
Select startups may receive up to US$250,000 investment. When you receive investment, you also become one of Accelerating Asia’s portfolio companies and part of a wider network. Eligible startups will receive an initial US$100k investment from Accelerating Asia’s early-stage venture capital fund once you clear conditions precedent and a further potential US$150k in investment after the program. You can read more about our investment terms here.
Where does my investment come from?
Accelerating Asia operates on an accelerator/venture capital model. That means your investment from us is made through our early-stage venture capital fund.
How is the investment structured?
Accelerating Asia invests in startups through a SAFE note. Read all about SAFE notes here.
What is a SAFE Note?
SAFE stands for Simple Agreement for Future Equity. A SAFE is similar to a warrant, it's an option to buy equity later at the terms defined in the agreement. SAFEs were pioneered by Ycombinator in 2013 as an alternative to convertible debt, which was widely used at the time. At Accelerating Asia we only use SAFEs for startup investment and almost all of the non-institutional investment raised by our founders use SAFEs as well. Check our Craig’s blog for a full explainer on SAFE notes.
When will I receive the investment? When will I know if I am receiving investment?
Accelerating Asia will offer you investment prior to the start of the accelerator program, so you will know early if you are receiving investment from us. After that, there’s the paperwork and you need to go through due diligence and meet conditions precedent. As with VC investments, you will only receive the investment once all of the paperwork and due diligence is complete and approved.
Do you invest in all the companies that go through your accelerator?
No...Accelerating Asia’s venture fund is separate to the accelerator program. As part of our commitment to build the local ecosystem and grow startups, if we come across a great startup and founder that aren’t quite ready for investment from our VC fund, we will offer them a spot to join the accelerator as part of our Rising Stars track. It’s part of how we pay it forward.
If I don’t receive investment, do I pay the program fee?
For our Rising Stars track, you do not have to pay the cash fee of US$35k. Startups who make it through to rising stars are only charged the 3% equity.
COVID19 & THE APPLICATION PROCESS
How does Covid19 impact application and selection?
Our application and selection process will remain the same. We will still review each application, conduct interviews online with the Accelerating Asia team and have Selection Days. If travel is still restricted, we will run virtual selection days so you will still have the chance to connect with our mentor, investor and partner network.
Will the program go ahead?
Yes, Accelerating Asia will continue to deliver opportunities for Founders and support you as you grow your business, raise investment and keep developing your products. We have the ability to deliver the program virtually with startups still receiving mentor sessions, Entrepreneur in Residence 1-1s, virtual office hours with the region’s leading VCs plus more. So rest assured, you will still benefit from the program.
Will I be expected to go to Singapore?
We understand that it might not be possible for you to travel to Singapore if the current restrictions continue. Therefore, we won’t expect you to come to Singapore but rather participate remotely.
What if I can’t meet my Co-Founder to film the video?
We ask you for a short video as part of the application process, this is just so we can get an idea about who the founding team is. Luckily, now there are plenty of options to film the video with your Co-Founder if you can’t be in the same place. Hint: Zoom has a recording function for multiple speakers.
SELECTION
How advanced does my startup have to be to qualify for Accelerating Asia? What is the selection criteria?
Accelerating Asia’s program is designed for pre-series A startups, that’s the stage we find gets the most out of our particular program. As long as you are working on your startup full-time and have at least a working MVP you can apply to the program. With regards to getting accepted into the program it depends on the application pool and other variables like your team, traction with users, previous investment, fit within the cohort, etc. Read more here.
What’s the application process?
After you submit your application, we will long list a selection of startups to submit further information to us, then you participate in 2-3 rounds of interviews. Startups will then be invited to Virtual Selection Week where representatives from our investor, mentor and founder network will meet with you and help us choose the top 10 startups to join the portfolio and cohort. All startups who get to Virtual Selection Week meet with Accelerating Asia’s top mentors, advisors, angel investors and Venture Capitalists in our network so it’s going to be an incredibly rewarding experience - you really can’t lose :)
What verticals does Accelerating Asia focus on?
We do not focus on any particular verticals, but are simply looking for the best startups and founders that are solving big problems. Historically, the management team has experience mentoring a wide variety of startup business models, and our mentor and investor networks cover most types of business models and products. So far, we’ve invested in 10+ verticals including edtech, SaaS, logistics, travel tech, agtech and fintech across B2B, B2G and B2B2C. You can see some of our portfolio companies here.
I’ve applied and haven’t heard back! When will I get an answer?
We receive lots of applications for each cohort and we review each one individually. We try to respond to everyone with a yes or no, but it could take up to a few weeks after applications close in December 2021 to get a response. We get back to you after the application deadline of June 30, in case you want to make any last minute changes or updates to your application.
PROGRAM
What’s included in the accelerator?
We provide support across a range of core areas that we know are a focus for startups. This includes providing general and specialist mentorship from our wide network of external mentors, access to the Accelerating Asia Founder Community so you have peer support, branding & PR opportunities, fundraising support, a co-working space in the heart of Singapore, access to regional networks and insights on growth and scaling.
In our last cohort, startups had sessions with the region’s leading investment firms including Golden Gate Ventures, Monk’s Hill, Cocoon Capital and Sequoia. We also run dedicated sessions with Entrepreneurs in Residence so you can deep dive into focus areas. And of course, our masterclasses which cover capital raising, pitch coaching, sales and growth.
Is there a program cost?
Yes. These program fees help to cover basic costs of running the Program, paying outside speakers and should be viewed like tuition. We charge a program fee of US$35k cash and 3% equity, this is separate to the investment you receive from our early stage venture capital fund but you can choose to deduct the cash program fee from the investment. You can choose to pay the program fee from your investment so you aren’t out of pocket.
Can we deduct the program fee from the investment amount?
Yes, and most of our startups choose to do this so you aren’t out of pocket. So once you receive the initial investment from Accelerating Asia, you pay the program fee.
When is the program fee due?
The program fee is only payable once investment from the VC fund is made into the startup. Eligible startups accepted into the program will be invested in by the fund and the minimum investment amount is US$100k.
What do I get for my program fee?
A dedicated support team during and post accelerator program, from a team of Founders with exits, fundraising professionals and marketing specialists. As an Accelerating Asia startup, your program fee unlocks the our powerful network and connections to leading angels, VCs and partners plus perks from AWS, Hubspot, Stripe and more.
Accelerating Asia also has partners that invest alongside us and 100% of startups raise outside capital within the 100-day accelerator from that network.
If I don’t receive investment, do I pay the program fee?
For our Rising Stars track, you do not have to pay the cash fee of US$35k. Startups who make it through to rising stars are only charged the 3% equity.
Why do you charge a program fee?
We are independent so program fees help us deliver the best program to you from Demo Days to pitch coaching workshops and PR activities. It also allows us to focus on our founders and ensure our goals are aligned from day 1 and focus on you.
Actually, most accelerators charge a program fee, the cash amount is usually a bit higher. But we know that for some early stage startups this can be a lot of cash, that’s why we structure it the way we do so you can still benefit from the program.
Why join an accelerator program?
A lot of startup founders wonder why they should spend time on an accelerator program and we get it, you’re busy trying to create a unicorn. But we find that startups in our program benefit greatly from participation in an accelerator. Some of the reasons our Founders join include - access to investors, a quick path to fundraising, the ability to better manage their business and grow exponentially. Find out why our startups join us.
How is Accelerating Asia different?
There’s a few things that make us different. First up, the stage we focus on is a bit more advanced than other accelerators in the region as we work with startups that have existing traction and an MVP. We are a founder friendly program so we focus on aligning our goals from day 1. We are also run by a team of experienced startup founders so we know what it’s like to be a startup founder and what you need. One other thing - we’re not just an accelerator, but also a venture capital fund so we have close links with investors around the region.
How long is the program?
Our accelerator is 100 days, we know that Founders need to remain focused on building your startup, so while it can seem tough to participate in a program and run your business, our program is designed to be high-impact, for Founders by Founders and you’ll still spend about 90% of your time working on your startup. We focus on condensing the majority of activities, masterclasses and office hours into blocks so that you can spend the majority of your time focusing on running your startup.
Do we need to move our entire team to Singapore?
No, your teams can remain in your HQ city, there’s no requirement that you have to move your team to Singapore.
How accessible is the program?
Our program is designed to be flexible and catered to each individual's needs. Our online programming is designed to be accessible for everyone regardless of location, abilities and family commitments you might have.
If you have certain needs for accessibility in the office, this is something we can also work with you on as we have done with our past accelerator cohorts. For example in Cohort 1 we worked with the Deaftawk team to make sure they could access everything.
Kids are welcome in the Accelerating Asia office and we often have our founders bring their kids to different events.
Do I have to be a Singapore company?
We work with startups from across the region and so far our cohorts have included startups from 10 countries. While you don’t need to be a Singapore company when you apply, to receive your investment from Accelerating Asia, depending on your startup’s country of origin, you may need to open an Singapore entity and be incorporated in Singapore - this is relatively easy to do and we can point you in the right direction on how to do this during week 1 of the accelerator.
What questions do you ask in the application form?
Startups prepare a lot of information for our applications and the ones that really stand out and make it through are those who have taken their time to submit a well thought out application with all the documents. We ask things about your vision, your current traction, why you’d like to be part of the Accelerating Asia program. It’s all designed to give us an idea about who you are and why you want to work with us. A preview of application is available here.