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.
How advanced does my startup have to be to qualify for The Asia Accelerator?
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.
What’s the application process?
After you submit your application, we will short-list the top 50 applications for interviews in person (should you be in Singapore) or via video. Then, the top 25 startups are invited to a 2-day “bootcamp” at our office where representatives from our investor, mentor and founder network will meet with you and help us choose the top 10 or so startups to join the cohort. The finale of bootcamp is a pitch to our judging committee who will make the final decision. Whether or not you join the cohort all startups who get to bootcamp has said it was an incredibly rewarding experience so you really can’t lose :)
What verticals does The Asia Accelerator 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.
Do you really give the investment dollars upfront?
Yes, as soon as all the paperwork is completed, we transfer the full amount upfront to you. Depending on how much back and forth is required with legal is how long it should take. For more startups, you can expect it to take a couple of weeks.
How much equity do you take in the startups?
The amount of equity we take depends on your next qualified financing round. We invest through a type of convertible note called a SAFE note. The SAFE note gives us the option to take equity at a later date to a discount of the valuation of that round. For more information on SAFE notes see here.
Wait, what’s the deal again?
We invest $100k SGD into your company in exchange for $125k SGD in equity through a SAFE note. We charge a $25k SGD fee for participation in The Asia Accelerator program.
LIVING IN SINGAPORE
How do we deal with Visas for staying in Singapore?
The Asia Accelerator is an official accelerator partner of Enterprise SG which means that we can support visa applications for founders in our program in applying for the Entrepass.
Do all founders have to be in Singapore for the entire 4 month period?
No, while it’s encouraged and startups who have more founder participation get more out of the program, the minimum requirements for participation are:
At least one founder must be at all required events (which typically means you will need at least one founder to be in Singapore during the week). All founders must join the 1-week International Trip and attend demo day and demo day prep (several days leading up to demo day).
Is it expensive to live in Singapore?
Yes and no. Depending on the lifestyle you want to have. If you eat locally, use public transport and don’t go drinking every night, you can get by in Singapore for a reasonable cost. We can help suggest options to make your time in Singapore as comfortable as possible.
How long is the trip to the US?
It’s a week of ‘programmed’ activities and we encourage founders to stay on for at least an additional week to follow up on meetings and connections that they would have made during their first week
Who covers the cost of the trip?
We cover most food and drink as well as events and transport for the first week of the program. We also cover all of the workshops and activities that we will do as a group during that time. You are responsible for your flights, accomodation and any other expenses that come up during that time and if you decide to extend your trip.