Where can I apply for the program?
Here. We fund companies once a year.
What kind of companies do we accept into CVAP?
Importantly, we are not just focused on early stage (ideation) companies but startups that already have traction and looking for additional support accessing market validation and product/market fit.
CVAP is always looking for companies with a vision to create a disruptive model in the industry it is serving as well as companies that are involved in enhancing the value proposition for its customers.The company’s business model must adapt to scale and must have a valid exit strategy.
Our focus is software based companies who are working in the B2B or B2C space with pre-revenue or revenue.
How many companies you are planning on accepting in the Fall 2015 cohort?
With first cohort of 6 companies under our belt, we believe we have learned a lot from that experience. Our goals are extremely ambitious for our next cohort and planning on bring from 10-12 companies for our second cohort. It will be a lot of fun!
How important it is for us to submit a video of your team and product demo as requested in your application?
Extremely important! Please understand that our accelerator invests in teams, and we shouldn’t have to turn to Google to understand your team balance. Further, your video helps us see if you can articulate your idea well in person.
What goes on during the 3-months at Collide Village?
Getting selected in the Collide Village Accelerator Program is not easy. But once selected, this is where the hard works begins. You will be kept busy in a flipped classroom model where you will be assigned books and articles to read, watch videos, conduct lots of face-to-face weekly customer interviews, run experiments to validate your hypothesis, mentor sessions, conduct weekly empirical debates with the teams on a specific topic, present your findings on the topics you were assigned to work on weekly basis, pitch practice and other so called important areas to have a business model that is scalable and repeatable. You can also review our blog posts to get some idea on some of the activities.
Do you follow the Lean Startup Methodology?
Yes. We are a huge advocate of the principles of Lean-Startup and use lots of methodologies and tools during the course of the program. However, we have realised that not everything being taught in the lean-startup works during the 3-month program so we have tailored our program with some key important modifications.
What are the timelines of the second cohort program?
The program will start on September 8, 2015 and will end on December 9, 2015.
We’ve already been working on our startup for a while. Is Collide Village appropriate for us?
We can help any startup at any stage that is looking to get that market validation and/or product/market fit for their business and to raise next round from the investors. In the past we have had companies with product and revenues when they joined and they have benefits tremendously.
We have already raised some money for our venture. Can we still apply?
Yes for sure! The model fits in quite well for startups who has raised but need help in defining and achieving the product/market fit. Most startups do not understand what it takes to achieve that product/market fit.
What if I don’t have a technical developer as a co-founder in team. Can I still apply and will you fund us?
This is a big problem we have seen in Dallas where teams do not have access to the developers and they ended up doing one of the three:
- hires an off-shore company which ended up in nightmares for the teams and couldn’t deliver the MVP on time;
- hires an on-shore software development company which is extremely expensive;
- try to bring a developer as a co-founder which is (a) hard resource to find and (b) puts a big risk on if they don’t produce;
All these are our learnings from being in this ecosystem for the last three years and running an accelerator cohort. This leads to one big problem which is that startups in the program couldn’t keep up with the material as MVP needs to be revised with the agile development process if they lack development capabilities.
Having said that we have implemented a new program where we can help startups who do not have a technical (software) developer to achieve the MVP developed during the program. More details on this will be posted soon!
What if my co-founder cannot attend the program?
Sorry. We will not accept and fund the startup that cannot be a physically present in our program for 3 months in Dallas, TX. We expect at least 2 (two) co-founders to attend the program.
Do I have to be in the Dallas area when the 3-month program ends?
We strongly believe in growing the entrepreneurial community. We also believe that our collaboration doesn’t end simply because 3 months have passed. Once you are part of this amazing team of mentors, advisors, investors, and partners, it will be beneficial for you to stay in the area but it is not a requirement.
How are your Pitch Days or Demo Days planned?
In most cases, pitch days are a great marketing medium for the accelerator programs. Unfortunately, they offer little impact for the companies wanting to raise money. We have a non-traditional approach to the concept of pitch days where our core investor groups including angel investors, venture capitalists, and family offices are invited exlusively for the event. This is an invite-only event. This is most effective and returns the highest value to the companies. During the Pitch Day, the general public is not being invited to the event.
Do you guarantee that our company will get funded after the program ends?
Absolutely no! What else you were expecting…lol. No accelerator will give any sort of promise or guarantee on this. But we strongly believe that being a part of Collide Village ecosystem gives you a huge advantage through relationships with our mentors, advisors, investors and partners.
What do you do for fun in your program?
Although this is a very serious program and expecting people who are part of this to be 100% committed with their startup, we do have occasional happy hour sessions. But if you are looking for programs who are hosting burrito cooking contest, we are NOT it 😉
Where can I ask more questions?
If you aren’t finding the answer you need, please do not hesitate to contact us via email (firstname.lastname@example.org).