ACCELERATOR PROGRAM SELECTIONWe are looking for Seed or Pre-Seed startups with innovative and scalable solutions for relevant aquaculture problems. We require that you are at least a team of two, are willing to focus 100% on your venture and have an initial proof-of-concept. Additionally, we require you to move to our location for at least the duration of the program.
WHAT WE FOCUS ON
- Quality of your team
- The potential of your technology
- Your business model and strategy
- Size and accessibility of your market.
HATCH is a mentor-driven 15-week program and is tailored to meet the requirements of the teams selected for each cohort.
World class mentors will engage with the teams each week of the program sharing their aquaculture and entrepreneurial experience. Additionally each team will be allocated a specific lead mentor to drive progress throughout the program.
Further, we support you to develop the maximum potential of your startup via introductions to potential strategic partners, aquaculture-specific marketing exposure, peer-to-peer learning and legal support.
RESEARCH & DEVELOPMENT
Our team assists you to plan your further product development and testing. You have then the opportunity to test your product in collaboration with ourR&D partners and get access to their laboratories, experimental facilities and scientific expertise.
Once you are investment-ready, we introduce you to an aquaculture specific investor community. In addition you will be given the opportunity to pitch to our follow-on fund, which invests €100k-1M into high potential companies.
+ When does the next accelerator program start?
August 26th - December 5th 2019
+ Where is the next accelerator program located?
At the National Energy Laboratory (NELHA) of Hawaii in the Hawaii Ocean Science and Technology park (HOST). After approx. one month there, we will visit our offices in Bergen, Norway as well as Singapore afterwards to connect with key industry players and cover all aspects of the global aquaculture industry.
Hawaii: Aug 19th - Sept 26th
Bergen: Oct 7th - Oct 31st
Singapore: Nov 11th - Dec 5th
We cover flights for one person per team to Bergen and Singapore.
+ How much investment does my company receive?
Total program value 100.000 Euro (50.000 Euro in cash, plus mentoring, training, perks, office space, demo day etc.). We invest our capital and services through a convertible loan note. We offer further funding during the program to those that, from our persepctive, require it and we would like to invest in further.
+ Does the accelerator take any equity?
Yes, through a convertible loan note with a valuation cap of €1.25 mil. This equates to 8% equity.
+ Do I need to be a registered company to apply?
Not at application stage. But you will be required to set up an entity before the program commences.
+ Our team has already been through an accelerator program. Are we still eligible to participate?
We encourage applications from start-ups that have already completed an accelerator program and wish to enter the aquaculture market; Hatch is positioned to offer best value to "post-accelerator" start-ups.
+ What is the minimum number of participants per team?
+ Do I need to be on-site during the entire program?
Yes. We require at least two relevant team members to be there at all time.
+ Will there be a demo day?
Yes. At the end of the program you will present your company to a selected audience of investors, corporate partners and press.
+ What happens after the program ends?
Free office space will be available for participants for up to nine months post programme. HATCH will continue to play a hands-on role assisting participants to navigate the minefield of raising finance, sorting out business propositions, arranging agreements with shareholders and investors, and, most important of all, finding customers.
+ Can you help with Visa Immigration issues?
Of course. We will assist you where possible.
+ Who is behind HATCH?
HATCH was founded by Alimentos Ventures, an aquaculture-specific VC in 2017.
+ How much is the fish?
That's the ultimate question. Only Scooter knows.