Frequently Asked Questions: Deeptech Accelerator
Q1: What is IoT Tribe?
IoT Tribe is a global equity-free tech accelerator headquartered in the UK, and with hubs in Spain and Singapore. We are committed to help tech startups develop and disrupt their target markets through our programme curriculum and by connecting them with the global tech ecosystem..
Q2: Tell me more about the Deeptech Accelerator.
The Deeptech Accelerator programme is a 12-weeks programme that selects global startups with deep technologies looking to expand into and across Asia, using Singapore as a springboard into the region.
This programme prioritises growth-stage startups which are developing their Proof of Value – onboarding them for knowledge sharing and mentoring by an extensive group of mentors and experts deeply entrenched in the global tech ecosystem. We also provide exposure to our network of corporate and public partners within the region, creating opportunities for market expansion and business development.
We support startups in developing their Proof of Value, and expose them to the IoT Tribe networks in Singapore, and across Asia & Europe, in order to prepare them for market expansion. The programme consists of three phases:
Phase #01: Capacity Building (Weeks 1 to 8) – Held virtually, selected startups will go through a series of capacity building workshops and activities to refine their business strategy, product solutions, as well as their market expansion strategy for the Asian market.
Phase #02: Soft Landing in Singapore (Weeks 9 to 12): Startup representatives will participate in-person in Singapore, with the IoT Tribe Singapore team onsite to facilitate business development activities such as 1-1 meetings with prospective clients.
Phase #03: Anchoring Your Impact (Post-Programme for 6 Months): Following completion of the 12-weeks programme, graduated startups continue on as alumni of our Tribe and will receive follow-on support from the IoT Tribe team as needed. Alumni startups are also invited to stay active within our networks and remain participative through our events.
Q3: Who should apply for the Deeptech Accelerator?
We welcome applications from all startups around the world that are working on deep technologies, but those with a technology readiness level (TRL) of 7 to 9 and have already proven their product-market fit in their existing market will have a higher priority during the selection process. The applicants will also be assessed on their eagerness to expand into the Singapore and Asian markets.
Q4: How will applicants be assessed during the evaluation process?
Startups will be evaluated holistically based on their team, tech, product, and business model..
We believe that behind every great product lies a great team. We understand, and greatly appreciate the work of a great team coming together to create and innovate solutions for real world problems. As such, we value a strong and cohesive team equipped with the necessary skills to grow their business alongside us..
Q5: What can I gain from this programme?
Scaling a tech startup is not easy.
If selected, we will help you hone your value proposition to achieve market differentiation by identifying and addressing key pain points of your target customers.
You bring the tech and an initial validation of the market gap your startup is addressing, and we will help you:
Validate your value to your customers and identify the right market. We will curate introductions to potential clients with you so you can prove value and find the best route to scale. Brilliant tech needs coupling with a strong positioning to take off successfully.
Power up your credibility by providing you and your team with professional reinforcement and industry know-hows that you will need to convince clients, investors, and stakeholders you come across that you are worth listening to.
Increase your investability by critically evaluating your startup’s unique value proposition, helping you build out a solid financial case, and enhacning your credibility in front of investors and VCs.
Q6: What will a typical programme week be like?
During the capacity building phase, participating startups should expect to undergo workshops, coaching sessions, mentoring sessions, and catch-ups with the IoT Tribe team. We try to limit the total (virtual) contact time to a maximum of 5 hours per week. There will also be networking and thought leadership events organised for all of our startups, which we highly recommend to participate in when available.
In the soft-landing phase, more focus will be placed on business development and fundraising activities. Beyond weekly workshops and clinic sessions, time will be allotted for the conduct of 1-1 business meetings with potential clients and partners.
Q7: Will the programme be held virtually or in-person?
We are currently living in unprecedented times amid the ongoing pandemic, but we plan to conduct the programme in a hybrid manner, subject to safety advisories and travel restrictions.
Tentatively, the first phase will be entirely virtual while the soft-landing phase is likely to be done in-person, in Singapore..
Q8: How many team members should participate in the programme?
We recommend a maximum of 3 participants from each startup, of which at least one should be a co-founder or core member of the management team..
Q9: What will IoT Tribe provide during the soft landing in Singapore?
A co-working space (up to 3 seats) will be provided for your team for the entirety of their stay in Singapore. Any other expenses that might be incurred will have to be borne by the startups..
Q10: Do I have to be in Singapore for the entire duration of the soft landing?
Yes! We will require all programme participants to relocate to Singapore for the entire duration of the soft landing (4 weeks). You will benefit from the numerous learning opportunities, networking sessions, 1-1 meetings and coaching offered during this time..
Q11: Can IoT Tribe help with visa applications or immigration issues?
Upon acceptance, IoT Tribe can provide an endorsement letter for your EntrePass application. The EntrePass visa approval typically takes up to 8 weeks on average, and you are encouraged to apply as early as possible. Do note that official approval will still be contingent on the local immigration authorities.
Q12: How much will it cost to join the Deeptech Accelerator programme?
Application and participation in the Deeptech Accelerator programme is fee-free. However, representatives from the selected startups will have to bear the costs associated with the 4 weeks of soft landing in Singapore (which includes your travel and accommodation costs, among others)..
Q13: Have other questions?
Please send in your enquiries to us email@example.com, and we will do our best to respond within 1 to 3 working days.