VENTURESPRING IGNITE TERM'S AND CONDITIONS
Venturespring Ignite goes beyond a traditional accelerator. It isn’t about corporates paying ‘lip service’ to digital transformation or startups being able to leverage a big brand - this is match-making and collaboration that fundamentally changes the economic prospects of both established businesses and the disruptors changing the markets they operate in. We have created a new model in business creation and acceleration which is backed by our corporate partners. This goes beyond ‘classroom-style learning’. The startups that join us have exclusive access to hard-to-reach corporate resources that allow them to scale quickly and the corporates get to fully embrace innovation in a way that future-proofs their business.
Our vision is to inspire leaders to empower growth driven startups to build a better world and to achieve this vision we are dedicated to bridging the gap between startups and corporations to empower technology ventures to grow and prosper faster. Venturespring Ignite is our model for helping to achieve this mission and we are pleased to introduce it to the market place.
How to enter Venturespring Ignite: Entry into Venturespring Ignite means all the terms and conditions (“Terms and Conditions”) set out herein are accepted in full. Simply fill out the form to apply to the Venturespring Ignite programme. Please remember to upload your startup pitch presentation to the Venturespring Ignite form. Remember, all Venturespring Ignite applications are reviewed directly through the Made platform. Keep an eye on your inbox for an email from Made asking you to confirm your account once you have registered via our online form. Once you’ve confirmed your Made account, you must invite all your startup team members to Made. In order to qualify, you must remember to invite your startup team members to Made, startups who do not follow these steps will not be judged.
Venturespring Ignite Startup Benefits:
- Delivery of a structured 6 week acceleration programme designed to help the winning startup scale
- Discretionary investment of between $10,000 - $5million.
- Access to Venturespring mentors and high profile business leaders – entrepreneurs who have both invested into and built a number of businesses for themselves and others.
- Access and intros to carefully curated corporate resources obtained via unique deals and strategic negotiation
- Strategic startup-corporate match making for long term partnership opportunities to help startups monetize
- Access and intros to high profile investors in the form of angels, family offices, venture capitalists, and corporate venture divisions who might want to invest further funds into the startup business
- During the 6 week programme Venturespring will take care of matching up mutually interested corporates, investors and companies and schedule the meetings. We will then work with the startup over a period of 6-12 months to make these exciting partnerships a reality. Some of the resources might be deployed immediately, while others may take some time to embed or curate.
- An invitation for one person to a Summit on Necker Island, where the startup will have the opportunity to meet with the world's most successful business leaders such as Richard Branson. (Please note flights are not included.)
- An opportunity to hear Necker Island Summit speakers discuss key trends and the types of corporate resources available to startups like theirs.
When will Venturespring Ignite run: The programme will launch to press and the public in June 2017. Startups are encouraged to apply from June 2017 until the deadline date - 20th December 2017. Startup finalists will be selected and notified January 2018. Startup demo day runs January 2018. Successful finalists will be awarded with access to the Venturespring Ignite 6-week programme which will run from March 2018. One lucky startup will be awarded with startup investment and a trip to a Necker Island summit will run in Feb 2018.
How many startups are selected: 15 Startups will be selected as finalists but only 1 will be selected from this batch to gain access to the investment and Necker island summit.
How are startups selected: Ahead of the 6-week innovation programme we curate the startups by funnelling them by vertical. At this point after the startup scouting phase of ignite we are left with hundreds of startups which could be chosen. We have a number of enablers / ecosystem partners (made up of high profile venture capitalists, corporate innovation experts and high profile business leaders) who are there to provide opportunities rather than just judge the startups. When the application period closes in December, we will have them cast their eye over entries with us, we will then come to a conclusion as a forum). The expertise in that forum will help us to choose the best startups.
What are the judging criteria: We select entries that have the greatest potential to impact our future. Startups are judged on originality, business model, team, design, potential for growth and engagement. We select the 15 based on this criteria plus the relevance when it comes to partnering those startups up with the corporate partners involved in the programme, we need to be able to help startups through our resources if they are selected.
6 Week Venturespring Ignite programme: Venturespring will supercharge the development of the winning startup through a unique startup corporate match making programme. Within Ignite, a carefully selected group of startups and scaleups (across mobility, lifestyle, media, aerospace, travel, fintech, healthtech, AI, VR, retail) are granted access to this six-week programme where they are strategically matched with the most relevant corporate partners. The programme provides startups the opportunity to access hard to reach resources to help them scale such as access to retail distribution or supply chain networks; free advertising and marketing or access to capital.
- Necker Island summit and startup investment: As part of the Venturespring Ignite programme, one of the fast growth businesses will be invited to Necker Island to attend a summit in February 2018 attended by Fortune 500 leaders, top global VCs and Richard Branson. Venturespring has partnered with Singularity University who will be responsible for the programming and education of this event. We will provide a 3 day summit ticket option for the winner which will include the following: 3 Nights- 7th Feb 2018 - 10 Feb 2018. Features two days of content, one day of island activities, and a charity dinner with Sir Richard. Includes all Singularity University programming and education, all meals, drinks, entertainment, and activities (excluding spa). Flights are not included. Due to limited capacity and cost, the startup will receive only one place on the Necker Island summit, as a result we usually recommend that the CEO of the startup attend so that he or she can impart learnings to the rest of the team. A discretionary investment of between $10,000 - $5million is provided to the winning startup. Venturespring Ignite is open to both seed and early growth stage startups. We have been building our investment fund and will be seeking to make multiple startup investments in subsequent years beyond year one of this programme as we build our fund out further.
- Startup Demo Days: From the judging process we will whittle down the hundreds of startups to only 15. From this 15 we will then pick 5 to present at a demo day / pitch day. Each startup will have 10 mins to present and the judges will have 10 minutes to ask questions. This pitch / demo day will take place over a half day so that we can be sure of which startup to select. The startup founders will present their companies to the audience (which will be made up of our enablers - ie VC investors, corporate innovation leads, high profile business leaders and venturesprings entrepreneurial network) and each group of presentations will be punctuated with a Q&A where judges will be able to ask any questions they deem appropriate. If any of the startups are based abroad as may be the case, then they may present via skype or google hangout.