Demonstrating that startup accelerator programmes aren?t limited to London Oxygen Accelerator, launched in May, will deliver investment, intensive mentoring and training for tech startups from the heart of the Midlands.� Today, the Birmingham-based organization has put up a �75,000 prize to be won by one of the 10 participating teams.
Seven days remain to submit applications for the programme, which commences September 1 and is open to individuals or groups from all over the world. Organisers are looking for an initial ten startups to fill the first ?boot camp? and successful applicants will be required to relocate for the�intensive�13-week schedule, receiving �20,000 in investment whilst working from Birmingham Science Park Aston to promote their ideas and products.
Applicants will be provided with access to a range of start-of-the-art resources, receiving guidance and support from established tech entrepreneurs but also major companies including Microsoft, Amazon and Google. They will receive financial and legal support, but also that helping hand that could open the right doors for companies needing assistance to reach their target market.
At the end of the 13-week programme, startups will be able to ?speed pitch? their products to a large panel of�venture�capitalists and angel investors at an ?Investor Day?.
Even then, it won?t be the end of support for the companies involved; founder Mark Hales hopes to create an Oxygen Alumni, ensuring the door stays open for companies that have passed through the programme but also encourages them to come back and help new applicants in the future.
As an additional incentive for the participating companies, Hales has put up a �75,000 cash prize for the startup voted for by the mentors, investors and peers, as the ?most improved?.
This won?t mean that the overall ?best? company will win the prize, merely one that has ?gained fruitfully from the programme and has proven its ability to continue to develop a sustainable business.?
The cash reward will be received 13 weeks after the programme has finished so not to influence the investment decisions of potential funders. Mark Hales said:
?Investing a further �75,000 into the team that has shown a marked improvement from when they joined the programme, will help fuel inspiration, determination and the passion needed to make a business work. I want to make clear that each team selected for this process is a winner to have come through the 13 weeks and this cash-injection is in no way a bias towards one particular company. It?s just another investment to be gained at the end of the process when each business will be pitching to investors on ?Investor Day?.?
It?s unique for accelerator programmes to give away such a large sum of money with absolutely no strings attached, so this is a very good deal for the winning startup.
With a week to go until the application deadline, we?ve been told that there have been no applications from women-led startups so far.
To apply, founders are required to field a series of questions on their existing structure, investment and revenue generation, sending a short video to describe why they should be part of the accelerator?s first ten startups. Judges will then critique the applicants on the strength of their ideas, how much they will benefit from the programme, looking at how well the founders present their companies and the team as a whole.� Click here to apply.
Applications are open until June 30, with interviews commencing mid-July.
The programme is also recruiting mentors and investors, who can apply directly via the Oxygen Accelerator website.
The original articles announcing the programme launch and the �75,000 prize appeared on The NextWeb, a The NextWomen partner and contributor.� See their website here.� Click here to read Oxygen Accelerator Founder Mark Hales' guest post for The NextWomen on the lack of women applicants.
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