Axcel Innovation Program 2018

Axcel Innovation Program 2018

Overview


The program

Nextbit launches the “Axcel Innovation Program 2018” to support innovative ventures. Selected teams will join a 12-months international acceleration program that aims at boosting the growth of ventures so that they may pitch to international venture funds with working solutions and proven business models.

SERVICES PROVIDED

The "Axcel Innovation Program 2018” will start in January 2018, aimed at ventures with disruptive ideas, sound business plans and solid founder teams. Selected ventures will have access to an ecosystem of services/solutions, aimed at accelerating time-to-market and proof of the soundness of the venture, these include:


Expert product development support

Ventures will receive mentorship, know-how and the ability to involve some resources from Nextbit’s pool of A.I. experts, data scientists, big data engineers, front-end developers. The aim is reduce the product development phase.

Business development support and management coaching

Internal strategic consultants will also be available to fine-tune business plans and go-to-market strategies.

Office space

For ventures that are needing office space we are able to provide such a service.

Accounting and financial consulting

Services will be provided to project cash flow, monitor financial needs, estimate revenues and project budget plans.

Legal support

Will be provided to assist on contracts and any other legal needs during the delicate start-up phase.

Exposure to potential clients

Nextbit works in partnerships with a number of multinational client companies. Assistance will be provided to network and present solutions to initial clients. Nextbit may also involve the Venture with paid projects to test the venture solution.

Seed funding

Initial round of seed funding may be provided in addition to other benefits by Nextbit and/or by Nextbit international partners.

Personnel Management and Recruiting

Ventures will receive assistance in Personnel and Payroll Management as well as recruiting for talent.

Project management consulting

Nextbit has over 100,000 man-days of project delivery experience. We will provide mentorship on sound project management and road-map definition.

VC introduction

Towards the end of the program, successful ventures will be introduced to international VCs for investment.


In exchange for these services Nextbit will request a percentage of equity, the amount will vary based on: seed funding provided, the growth of the venture reached after the initial 12 months, the development effort necessary from the Nextbit team.


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SELECTION PROCESS OVERVIEW

Selected ventures will thus have the chance to focus on the development of their solution while receiving the following benefits:

Executive Summary Evaluation
Face-to-face interview
Business Plan Evaluation

TIMELINE

November 2017
call for startups
First Quarter 2018
Acceleration program starts
First quarter 2019
Acceleration Program Ends

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FAQs

Participants will be asked to provide an Executive summary with an overview of the problem they are attempting to solve, their proposed solution, the addressable market the strategy to scale the business, financial forecasts, funding needs, the current development stage. Participants should also include resumés for each team member and founder. Any material that may help to explain the solution can be provided at this time (videos, demos, url)

Selected participants will be invited for interviews in our offices in Milan, Italy. Non disclosure agreements will have to be signed by both parties prior to the interviews. The scope of face-to-face interviews is twofold: on one hand, teams will have the chance to visit our offices and meet (data science) operational experts that will provide support during the program; on the other hand, a more detailed discussion of proposed solution, vision and future development roadmap will be possible.

In this final step, selected participants will be asked to provide a complete business plan covering the following areas:


Business

  • Industry Overview
  • Company Overview
  • Strategy
  • Sales and marketing
  • Financial and Accounting
  • Human Resources
  • Technology and Infrastructure
  • Regulatory and Legal

Financials

  • Revenues
  • Compensation
  • Other Expenses
  • CapEx
  • Income Statement
  • Cash Flows

The venture selection criteria will cover the following:

  1. The level of disruptiveness
  2. The founder’s expertise and level of domain knowledge
  3. The feasibility and the soundness of the business plan
  4. Social benefits/impact
  5. The leverage of Data Science and AI expertise on the venture’s success
  6. The international reach of the proposed solution

Timeline

Posted on:

Phase 1 start

Posted on:

Phase 1 end