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Startup Port Newsletter - Issue #18

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Make sure to apply for the next round of funding from FasterCapital!  
 

Startup Port Newsletter

December 31 · Issue #15 · View online
Create + Collaborate + Launch

Make sure to apply for the next round of funding from FasterCapital!  

FasterCapital virtual incubation/acceleration program - The easiest way to create traction and raise funds
As one of the Global Regional Partner of Faster Capital, I want to invite your startup to apply for our next virtual acceleration session.
Non-technical entrepreneurs who couldn’t find a technical co-founder to build their startups can join our incubator now. FasterCapital will build your product from A to Z plus invest 50% of the seed funding. FasterCapital will invest between $50,000 to $2 million.

How do you apply for the FC incubation program?
FasterCapital has four rounds of funding per year. Application is available for everyone. As a virtual incubator (and investor) FC is not limited to geographical area. Any entrepreneur can apply by filling the form for the startup. The entrepreneur(s) can contact the closest regional partners for assistance, advise and get to know the FC community. Anyone needing help applying for the next FC session from Chicago or the Midwest US, please feel free to contact me. I would be glad to help out.
At FasterCapital, we need entrepreneurs who can bring dynamic and innovative ideas to our platform. Our entrepreneurs don’t need to know everything. However, we would expect them to have tons of enthusiasm, self-belief and conviction in their start-up idea. As a start-up entrepreneur to join our incubation program, that’s all you have got to bring on the table. We will deal with the rest and will help accelerate your journey. Our entrepreneurs should expect a one-stop solution from FasterCapital.
FasterCapital will co-found and co-fund start-ups that resonate with our “core values of entrepreneurialism, innovation and a commitment to change the world through ground-breaking ideas.” In return for your efforts, our entrepreneurs can expect funding on a co-funding basis to match with their own funding, unrivaled access to mentors, consultants and advisors, introductions to investors and access to complementary business support services. (Please read details below)

Here are the main points about the process:
  1. The entrepreneur has to submit his idea (Business plan including SWOT analysis and financial study) directly on our website here
  2. The project will be reviewed directly by our team.
  3. Our team and regional partner will study the documents supplied and provide a feedback. There are major three teams for validation: business, financial and technical:
  4. The business team will validate the assumption, carefully going through the business plan and financial model.
  5. The Financial team will verify the financial operating model provided or improve on it.
  6. Finally, the technical team will list the skills required for the technical implementation and estimate the time needed to build the alpha, beta and final version of the product.
  7. If the startup fails at any stage (due to missing information or no good validation of the model) then we will contact the entrepreneur and ask for clarification or more info.
  8. The result of the study will be presented back to the entrepreneurs.
  9. Once the startup is accepted it can become “accelerated”. This means that we can feature it on our website and help it in raising capital (on a non-exclusive basis).
  10. If the team wishes to use our unique co-funding and co-founding model then we can move them to incubation program. The founder can show an interest in the incubation program at the submission below. The acceptance in incubation program follow the following steps:
  11. The entrepreneur has already covered the 50% of money needed to be raised (either from private money or through another investor).
  12. The startup will be presented to our special board who are reviewing “incubated startups”. The board consists of nine people. The startup should get at least 6 votes against 3 to be “initially accepted” into incubation program.
  13. Once the startup is in the “initially accepted” stage then we will be reviewing it with the entrepreneurs and discussing the resources needed and planning the development stages. We will be also discussing the roles/responsibilities and distribution of equities. Our plan should be for three years ahead with multiple rounds of funding in mind.
  14. Finally, we have to sign an agreement and start the work.
The time to be accepted in acceleration program is maximum one month from the last day of the submission in each round. If all information are correctly entered then the duration will be maximum two weeks.
The time to be accepted in incubation program is about one month. This can varies a lot depending on the discussions we conduct with the founders and how we change the scope of the startup together.

Submission Guidelines
Note the following rules:
  • You can apply below FREE of charge. You don’t have to pay anything for acceptance in either incubation or acceleration programs. Our review is also for FREE.
  • We only accept startups that are in IT field (software, internet or mobile).
  • Make sure that you submit all of your files correctly. Any submission that is missing fastercapital acceleration submission.docx, Business plan or LOGO will be not be accepted.
  • Make sure you fill the document fastercapital acceleration submission.docx accurately. Information marked in * are obligatory. Any submission not filling the document accurately will not be accepted.
  • If you want to update your submission then you can submit another time. Just mark it please in the subject (i.e. 2nd submission)
  • Read FC main criteria for investment.
 
ENTREPRENEUR’S QUESTIONNAIRE
Prepare the following before filling the form:
  • Download the file “fastercapital_acceleration_submission.docx” and fill it. Please note that all fields marked with * are necessary. You need to attach it later.
  • Prepare photos of 500x500 for all cofounders and team members. All team members and founders should have also a LinkedIn profile.
  • Make sure you have a business plan that includes SWOT analysis.
  • Make sure you have a transparent high resolution logo of your startup: 2000x2000
 
If you want to learn more about:
·         FC submission/application form and questionnaire:
 
Contact us as soon as possible, you still have time for applying to our next round of funding for 2019! 

Hal Tezcan
Regional Partner for the US, Chicago and the Midwest.
Managing Director, Startup Port.
FasterCapital startup application link:  


FasterCapital, US-Chicago regional Partner
332 S Michigan Ave. Suite 1100, Chicago, IL 60604

Disclosure: The sender, and his associates/partners, provides strategic business advisory services only, not legal or financial advice. Accordingly, information provided is not legal or financial advice and should not be acted on as such. Further, the related incubation, acceleration and related funding programs are provided by FasterCapital. The sender is a registered regional partner of FasterCapital and does not provide any funding. FasterCapital is a Dubai, UAE registered entity with an address at 8th floor, Office 807 A, Tower A, Business Central Towers, Dubai Internet City, Dubai, United Arab Emirates. FasterCapital is registered under License No. 5172/2014 under the name W.I.S.E FZ LLE


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332 S Michigan Ave., Suite 1100, Chicago, IL 60604