Slingshot is an organisation immersed in innovation, bringing corporates and Startups together, running a number of accelerator programs for large corporates. Slingshot understands the mutual benefit of bringing the Startup (with skills in early-phase development) to the corporate (with the scale to help make an idea a reality).
What makes the Icon Accelerator different?
Icon gives regional founders the opportunity to collaborate with corporates and Slingshot who are proven leaders in Startup accelerators. We're offering the scale and global reach of the partners and our deep knowledge of scaling a business. We also offer funding support and access to guidance and mentorship from industry-leading experts.
What is Icon looking for?
Icon is looking for regional Startups (from early stage to fully scaled businesses) with rock star teams wanting to develop a global tech business.
Absolutely, this is a unique opportunity to collaborate with our Premium Partners and Slingshot.
We provide access to guidance and mentorship from industry leading experts. Their role is to support and challenge your team and you will be matched based on personality, industry and acumen.
Selected Startups receive up to $125,000 of investment and the opportunity to secure next round investment from our Premium Partners, the Slingshot Venture Fund and our investment network. At Demo Day, both businesses will have the opportunity to pitch to this community.
Champions and Partners
Something often overlooked is acquiring great business relationships for your company early. Teams will gain access to Slingshot's extensive partner community including software, hosting services and office space, valued at over $500,000.
Branding and Media
Slingshot will provide your company with branding and marketing support with inclusion in Icon Accelerator media and events.
Will Slingshot own my IP?
No, you will own all of your IP.
Do I need to be full time on my business?
Yes, the expectation is that you will be available to work on your business full time during the accelerator program.
When do applications close?
Friday 8th September 2017 11.59pm (AEST).
When will I be notified if I am shortlisted?
You will be notified within seven days of the application close date.
Icon is open to all stage businesses from ideas to those with customers and teams, who have been operating for years.
There are key reasons you might want to apply:
You need help to develop an MVP or refine your MVP in 3 months
Your business could benefit from a commercial relationship
You are a world class business looking to add a large customer to your portfolio
You have a great product and business and see an application for it
What is the Icon Accelerator program like?
Intense. 10 weeks is not a long time. You will be part of a cohort of other hard-working Startup founder teams. You will be immersed in the 10-week program and engage with the best mentors to guide, support and challenge you. You will be exposed to investors, partners, sponsors and media, with opportunities to network and pitch at events throughout the program. At the completion of the 10-week program, select teams will receive additional support to continue to build your business in a further 12-week incubation program. At the end of the program, Startups have the opportunity to secure next round investment from our Premium Partners, the Slingshot Venture Fund and our investment network.
Where is the Startup program located?
Icon accelerator will be taking place at Three76 Hub on Hunter Street, Newcastle. Your team will receive desk space for the duration of the 10-week program.
What time commitment is there?
The program runs for a 10-week duration. During the program you should allocate 2.5 days per week of face to face time with the dedicated Slingshot and your mentors, as well as attending events. The other 2.5 days you should commit to building your business and seeking to aggressively attract revenue, customers and growth.
How much investment does my Startup get?
Slingshot will provide an initial upfront investment of $25,000 for 10% equity in your business.
Note: There are no hurdles to accessing this funding, all Startups receive $25,000 on entry into the 10-week program.
Follow on from Slingshot
Unlike other programs, the Icon program offers the potential for a further $100,000 of follow-on funding from the Slingshot Venture Fund. To access this funding, you will need to receive follow-on investment from three or more investors. Importantly, the follow-on funding is at a valuation set by your Startup with no discount.
Is the program flexible on investment terms?
The program is open to flexible investment terms on a case by case basis. The case would need to be extremely strong as to why the terms should change.
What collaboration opportunities are there with the Premium Partners?
During the 10-week program and depending on your business model and traction, further opportunities may be explored.
Potential outcomes include:
Investment in your business
A commercial distribution agreement for your product or service
A vendor relationship where Premium Partners may use your product or service
Introductions within the Premium Partner community
Can my Startup only have one team member?
We don't encourage single founders but will consider you if you can demonstrate you have access to the resources you will need to grow your business quickly during the 10-week program.
What happens post program?
Slingshot will provide qualifying teams with another three months of support post program. This support includes further developing opportunities as well as help with capital raising.
I need more information. Where can I get it?
If this site hasn't already answered all of your questions, please reach out to contact us via the Contact Form.