The applications for the upcoming rolling cohort will open up in a few weeks. To be notified, you can either follow us on Twitter (@spark10india) or Facebook (spark10accelerator), or you can get on our mailing list by sending us a mail on firstname.lastname@example.org.
POINTS TO REMEMBER
There is no cut-off date or time for application. We are accepting applications all year long.
The earlier in the month you apply, the better your chances of being evaluated and joining the program sooner.
We decide who to fund and induct into the program.
The amount of investment (from INR 10 lacs to INR 20 lacs) will be decided by us based on the potential and need of the company.
The equity percentage will be decided based on the stage and capabilities of the company founders and potential of the business.
If we invest in and induct you, you and all core team members will work out of our premises (or space designated by us) for a week every month throughout the program.
For any advice that you may need during the rest of the month, you can schedule meetings with any of us or our mentors.
You will get the investment amount agreed upon within days of signing the documents. The documents, if everything is in order will be provided within the first week of your program.
All mentor sessions and workshops that are scheduled are mandatory. We will schedule it to coincide with your visit to our premises.
You (the core team) will participate in a mandatory review meeting every week.
During the program, if you are ready to start having conversations with investors, we will schedule investor meets or mixers. These are mandatory if they are scheduled.
We will start working on your pitch – create and improve and advise you on dealing with investors soon after your program starts.
We will decide if you are ready to meet the investors we have onboard.
You are free to start or continue your fund-raising activities outside the Spark10 circle if you wish.
You will have access to us as long as you need it. Our relationship doesn’t end with the program.
People invest in people primarily. We do the same. We look for founding team members that:
Have worked together with each other in the past or have known each other for a while
Complement each other’s skills, attributes, and experiences
Have a head on their shoulders and not somewhere else
Are willing to learn and adapt based on feedback and advice given
Have the ability to make decisions fast
Have some experience in the functions that they are handling/managing
Have some knowledge or experience of the industry their startup operates in
Are aware of the risks involved in entrepreneurship
We can’t help you with your product idea. And so, we need the product (collectively used for product, service or idea) should be in a prototype phase, in MVP stage or in or ready to go to the market.
There has to be some evidence of the existence of a market for your product. You should have done some kind/level of market validation to prove it.
We prefer founding teams of two to four founders. We rarely invest in single founder startups, but we’ve made exceptions along the way for a few.