The Midas Accelerator has become an alumnus of 500 Global BAM (Class 2023) 🎉
Paralect Accelerator has become a separate company: The Midas Accelerator 🎉
Next batch: May 8th, 2023
We help non-technical founders
in 3 months
The Midas Accelerator is a part of Paralect, the world’s first ecosystem for non-technical founders and a team of 200+ creators who hustle and have fun alongside outstanding entrepreneurs.
Several times per year we select up to 12 startups to participate in a 1-month equity-free bootcamp. The top 3-4 startups are then promoted to the 3-month accelerator and get $100k investment.
the biggest portfolio exit
Every startup gets services worth $100,000. It’s not money in the bank, but we’ll help you raise that too.
We take 5% of equity via SAFE ($2M Post-Money Valuation Cap and No Discount) with a Pro-Rata side letter.
The accelerator program is customized for each founder and their needs. We select only 4 startups per batch to maximize their potential.
1-on-1 mentorship hours
Gain insights from experienced mentors through weekly classes and AMA sessions. It’s like an MBA on steroids — but better.
We accept startups that investors deem "too early". We warmly welcome solo-founders, indie hackers, and pre-seed startups with no traction.
$100K+ in software perks
Discounts and free accounts for helpful tools like Clerky, Pulley, Notion, Github, and Intercom. And much more.
Personal tech team
You get a full-time team of 8 people to develop a product, design a go-to-market strategy, and support future fundraising.
Our relationship doesn’t end on launch day. We keep in touch with our founders and help them navigate the startup roadmap.
Bootcamp and accelerator timeline
What are your requirements?
Scalable and capital-efficient business
6-month roadmap and long-term vision
Would you like to join us as a mentor?
Midas not only made us a beautiful and functional MVP, but they also went above and beyond in every way possible to ensure our success!
Midas helped us go from 0 to 1. We’ve been able to gain 300+ users and 50+ partners during the three months of 2021, despite the full lockdown.
Being chosen for the Accelerator program gave me credibility in front of my future investors and got me a product that impresses at first sight.
The Midas pushed Menaflow to focus on the single thing that mattered: building something people love and finding product-market fit.
How many startups do you select?
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.
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.
Let’s build your startup and have fun together
We are pleased to announce that submissions to the new batch will be open Mar, 1st – Apr, 23rd!