IoT Tribe SG: Deeptech Accelerator FAQ

FAQ

Q1 About 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 globally grow through our intensive accelerator curriculum and by connecting startups with the global tech ecosystem..

Q2 About IoT Tribe’s Deeptech Accelerator Programme

The IoT Tribe Deeptech Accelerator Programme is a 12-weeks programme that targets global deeptech startups that are looking at expanding in Asia, using Singapore as a springboard into the region. We will 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.

Capacity Building (Week 1 – Week 8):  This segment will be held virtually, and will focus on building the business strategy, product & technology of the startups, and honing the market expansion strategy into Asia.

Singapore Soft Landing (Week 9 – Week 12): This segment will be held in-person in Singapore, and will focus on business development and fundraising activities.

Q3 What kind of companies are you looking to recruit onto the accelerator programme?

We are looking for deeptech startups with technology readiness levels (TRL) of 7-9, have already proven their product market fit in their primary market, and are eager to expand into Singapore or the Asian market..

Q4 How do you choose who to accept into the programme?

Startups are 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 How much does the programme cost?

The IoT Tribe Deeptech Accelerator Programme is free-of-charge to startups accepted onto the programme. However, founders would have to bear the costs associated with the 4 weeks of soft landing in Singapore (which includes your travel, accommodation and other living expenses)..

Q6 What will I gain from your acceleration programme

Scaling a tech business takes tech, talent, and time. If you are accepted into our programme, we will help you hone your value proposition in a way that differentiates you in a crowded market, and speaks to the pain points of customers. You bring the tech and an initial validation of the market need you are 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. Sometimes your tech is brilliant but your positioning may be off.

  • Power up your credibility. You will be working in an environment in which our team and your peers provide personal reinforcement and the positive vibes that you need to convince clients, investors, and virtually everyone you come across that you are worth listening to. Being a founder is hard.

  • Increase your investability. We do this by critically looking at what you have to offer, helping you build out a solid financial case, and increasing your credibility in front of our investor ecosystem.

We can also help you enhance your tech. If you have hardware, the cost of your BOM can probably be optimised further. Depending on the programme, we may also be able to help you access new data sets or other IP to help you stand out from the crowd.

Q7 What support can I count on?

In addition to the core team, you will have access to a business coach, a diverse pool of mentors, and an in-house data scientist. Our mentors have impressive track records in their fields. They come from a variety of sectors and companies..

Q8 Will the programme be held virtually or in-person?

The programme would be held both virtually and in-person, subjected to travel restrictions. The first 8 weeks of the programme would focus on Capacity Building and will be conducted virtually while the remaining 4 weeks would mainly be face-to-face sessions held in Singapore..

Q9 What will a typical week be like?

During the virtual capacity building segment, there will be 1-2x half-day workshops, coaching sessions, mentoring sessions, and catch ups with the Tribe. There will also be networking events held monthly or bimonthly. To facilitate the participation of European startups, sessions will be organised in the afternoon (Singapore Time) which coincides with morning of Europe..

The soft-landing in Singapore is focused on business development and fundraising activities. As such, we will organise weekly workshops, clinic sessions and networking events during this period, but also allocating enough time for startups to do 1-to-1 business meetings with potential clients or partners..

Q10 How many people from my team can participate in the programme?

We allow a maximum of 3 attendees from each startup to join the programme, of which at least 1 participant must be a co-founder or core member of the management team..

Q11 What will be provided during the soft landing in Singapore?

A co-working space (up to 3 seats) would be provided for your team during your time in Singapore. Other expenses outside of the provided co-working space will have to be borne by founders..

Q12 Can you help me with visa applications or immigration issues?

Upon acceptance onto the accelerator programme, IoT Tribe can provide a recommendation letter for your application of the EntrePass. The EntrePass visa approval typically takes up to 8 weeks on average, and you are encouraged to apply as early as possible. While IoT Tribe provides a recommendation and endorses your participation in the programme, official approval will still be from local immigration authorities..

Q13 Do I have to be in Singapore for the entire duration of the soft landing?

Yes! We do require members participating in the programme to temporarily relocate to Singapore for the duration of soft landing (4 weeks). You will benefit from the numerous learning opportunities, networking sessions, 1-to-1 meetings and coaching offered during this time..

Q14 What happens if travel is still restricted for the soft landing period in Singapore?

The Singapore soft landing is still planned to take place in January 2021..

However, we are closely monitoring travel advisories issued by the local government on any development of the COVID-19 situation. We are also in constant contact with the local authorities, and will provide an immediate update to startups under the programme should travel restrictions continue to affect the travels of our participants to Singapore..

Q15 Can I do this on and off?

Cohort startups are expected to participate in at least 75% of the accelerator sessions planned by IoT Tribe. A low level of commitment may lead to re-evaluation of the startup’s fit in the programme..

Ultimately, this programme is a major commitment and we expect you to be fully onboard and engaged. This would enable us to help you grow, while allowing you to reap maximum benefits from the programme..

Q16 What will happen once the programme ends?

Upon the successful completion of the accelerator programme, there will be a 6-months follow on support for your startup and you will get invitations to selected networking events by IoT Tribe in the future..

Q17 Other questions, comments or concerns?

Please drop us an email at singapore@iottribe.org

Application Deadline: 31st August 2020.

Cohort Commencing: 19th October 2020.