MVP Accelerator 2020 Application
This full-time 12-week program is designed for early stage-hardware startups that have identified a market need, have a functional prototype and would benefit from access to advanced prototyping equipment and know-how to develop an MVP and secure industry/customer trials.
By completing this program, participants will be best prepared to undertake industry trials and start collecting accurate data on the benefits and scope of use of their products. This program is designed to address the gaps present within existing industry-specific accelerator programs that are not able to adequately assist startups throughout their product development stages.
The program provides the ideal platform to make the transition from an early-stage project to a full-scale business opportunity. Participating startups that arrive with a product with potential, limited market testing, some expertise and a lot of energy, will leave with a validated MVP and a more targeted and clear market strategy as well as high quality material to assist with pitching the product for industry trials.
Startups accepted into the MVP Accelerator Program focusing on clean energy technologies (energy efficiency technologies, low emission technologies and renewable energy technologies) and agtech may be offered seed capital investment of up to $50,000 from Artesian Venture Capital firm, in return for equity.
Startups developing hardware technologies in other sectors may also have opportunities for investment in return for equity.
We are looking for:
For this cohort, we are prioritising scalable innovative startups developing solutions (with a hardware component) in the clean energy, agtech, medtech and water innovation spaces. While we are prioritising the aforementioned categories, applications are open to ALL HARDWARE STARTUPS that have an initial working prototype.
Applications are open to anyone, who is working towards products in the following fields:
- energy efficiency technologies
- low emission technologies
- renewable energy technologies
- technology to accelerate agri-food R&D
- on farm efficiency
- food processing technology
- new food products
- water innovation
- hardware products
Why are we different from other Accelerator Programs?
- We have 6 dedicated staff members that actively help startups progress in the areas of mechatronics, design and commercialisation as well as the usual mentor workshops
- You have access to state of the art prototyping equipment at one location
- We have a partnership with Artesian Venture Capital and other investors specifically for Hardware startups
- We offer access to our wide range of national and international manufacturing networks
What are some of the practical things that you can get out of the program?
- prototyping & reverse engineering assistance
- investor pitch deck content review and re-design
- user interface design & website design
- concept sketching & CAD
- renders or animation of the product
- industry and investor introductions
- PCB design
- assistance sourcing parts
- connections to manufacturers
- trial proposal document design
- grant application review & feedback
- customer brochure review & design
- business card design
- branding guide & logo redesign
Arc’s Relationship with the Startup:
1. Safe Note/Equity:
As part of the program, accepted startups get to tap into a range of resources which value has been subsidised by Arc’s corporate/government partners. The Program is valued at over $30,000 and is already subsidised by the Australian Government and Industry Partners. It will be provided in exchange for 3% equity or safe note (value equivalent to $30,000).
For the Startups which will be obtaining funding throughout the program, we will be matching the terms of investment (safe note or equity).
In addition to the safe note/equity, startups accepted into the program will need to cover the cost of overheads ($5,000 for funded startups and $1,500 for unfunded startups). During your team’s milestone meeting we will be discussing invoicing and payment plan options best suited to you.
Each team will be responsible to the individual cost of their consumables used throughout prototype development (e.g. 3D printing filament, acrylic, etc.).
1 June - Applications Open
1 July - Applications Close
20 July - MVP Accelerator starts
8 October - MVP Accelerator ends