In 2023 we will select up to 12 startups for our pre-accelerator equity-free bootcamp and 3-4 startups for our accelerator program.
Do you find startups from any specific domains?
We accept startups from various industries; however, if you're building a company in SaaS, FinTech, MarTech, HealthTech, Creative Economy, or Web 3.0, your chances of success are greater.
What do you take in exchange for your contribution?
At bootcamp we don’t take anything. At accelerator we invest services worth $100,000 with a $2,000,000 Post-Money Valuation Cap via SAFE that equals 5% equity before the dilution.
What are the dates for Batch 2023?
Application period: Mar, 1st – Apr, 23rd. Pre-accelerator bootcamp: May, 8th – Jun, 19th. Accelerator: Jul, 3rd – Oct, 1st.
What is Bootcamp?
Bootcamp is a one-month, equity-free pre-accelerator program that founders must complete before entering an accelerator. You'll create your product daily in the open to validate your concept, speak to initial customers, and refine your positioning. The top 3 startups will be chosen for the three-month accelerator and granted a $100k investment.
Should I apply on Midas or Bootcamp website?
You can apply on both websites by filling in the same application form. The Midas team will then coordinate you with the next steps.
Does your program have an educational part?
Yes, we are planning to include lectures in our Batch #3. We will cover topics such as leadership, hiring, product management, and fundraising.
Do you provide mentorship hours?
Yes, we organize AMA (Ask Me Anything) sessions with our in-house experts. Additionally, we are willing to look outside our building to find mentors that meet your specific needs.
Do you conduct a demo day in the end?
No, however, we are planning to organize the first demo day in the near future.
Do we need to relocate to participate?
No. We are running all batches remotely. The team that builds your product will have the space and equipment they need here in our office.
Should my company be incorporated?
No, however, it will be a huge benefit. We suggest all our founders establish a Delaware C-Corp beforehand. This allows us to enter into a SAFE as transparently and quickly as possible, so we can start work as soon as possible. Moreover, this is the gold standard for high-growth startups. It provides limited liability, ease of use, ease of setup, the ability to issue stock options, and tax benefits upon sale for many qualified small businesses.
What are our main requirements during the program?
We expect bi-weekly reports with the following information: - What did you do during the last week? - What are you planning to do during the upcoming week? - Are there any blockers or help needed? - Are there any changes in the long-term vision and strategy? We also expect an extended report (a quick overview of the team, traction, vision, fundraising, etc.) once a month at the end of the program.
Do you support founders after the program?
Our support doesn't end after the 3-month program. We keep in touch with our founders via Slack and arrange catch-up calls if necessary.
What network does the Midas Accelerator offer?
We provide access to a database of experts with strong backgrounds in entrepreneurship, sales, marketing, and fundraising, as well as access to Paralect partners and various VC players.