ENTRANCE CRITERIA
Qualifying businesses are over 18 months old and have generated over R2 million (USD$135k) in revenue. The product or service must address current and future demand and is technology enabled. The founders are interested in addressing a large market pool and have a clear intention to grow their business as fast as possible and attract substantial investment. Entrance into the programme is subject to a business a case assessment; company valuation; a psychometric test; and whether the business is strategically aligned to 22 On Sloane’s vision.
EQUITY
Participating in the Accelerator programme is subject to signing a Memorandum of Agreement which stipulates that 22 On Sloane Capital will take a 10% equity stake in your business, this is subject to 22 On Sloane facilitating an investment for the business through its network in the 18 month programme period. The equity will only be taken when an investment occurs (initiated by 22 On Sloane) and not during entrance or participation in the programme.
INCUBATION KIT:
+ R1500 (USD$100) per month (commitment fee payable by the startup)
+ 24hour/7days week access into 22 on Sloane
+ Hosting an event at the Atrium (2 events inviting up to 50 people) event must be in relation to your startup
+ Uncapped WI-FI
+ WorkSpace (A Desk and chair)
+ Connecting you to various networks in your industry
+ Access to market networks
+ Raising Capital (in 18 months of joining/completing the Accelerator programme)
+ 5% equity stake in your startup through our investment arm – 22 On Sloane Capital
Key FOCUS Areas
The Accelerator programme provides toolkits to help startups understand:
The Value Of Companies
Scale
Investment Readiness Framework
Understanding Term Sheets
Financial Models
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The 22 On Sloane Mentorship Programme is designed to provide our Startups with valuable guidance and support from corporates, academics, business leaders and/or industry experts. In exchange for their time and expertise -22 On Sloane will reward them by moving them up the mentorship levels. At level 3, participants are recognized as certified 22 On Sloane Mentors, and are offered entrance into the Angel in Residence Programme.
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22 on Sloane Incubation programme is designed for entrepreneurs who are in the process of starting or launching their new venture. The programme focuses on the identified market opportunity, scrumming and helping you launch your startup; Growth Strategy; and how best to finance and ensure that your startup is profitable.