We invest 102,000€ in the form of a convertible security, with up to €64,000 in accelerator services. The deal is very similar to the American SAFE. It involves limited paperwork and legal fees and no upfront equity transfer. This will be happening upon raising the first qualifying round.
After completion of the Next Age Accelerator Program, SOSV will select CERTAIN startups and invest 150,000€ (110,000€ in cash, 40,000€ in program fee) in the form of a convertible security. The startup will then enter the SOSV Orbit Startups Program which is remote and will continue to scale and accelerate its growth and business globally.
Yes, startups need to accept both investment terms in order to be considered for the NEXT AGE program.
Yes, promising startups will potentially receive follow-on investments from Next Age, CDP Accelerators Fund and our partner SOSV.
SOSV’s Shanghai-based Orbit Startups, the first program in Asia to produce a unicorn, BitMex, and Taipei-based MOX program teams will work closely with startups throughout the Next Age Acceleration program. In the coming years, China’s spending on the elderly will triple from $750 billion to $2.1 trillion, overtaking Japan where the spending has already plateaued at $900 billion. India will make a dramatic entrance into the sector with an expected surge in spending on the elderly from approximately $100 billion to almost $1 trillion. Orbit Startups will evaluate startups after Demo Day for the opportunity to join its program in Asia, and open the doors to the Asian market for these select startups.
We have a structured 4-month schedule made of masterclasses, meetings with our corporate and scientific partners and office hours. However, our main goal is that you and your team are laser-focused on accelerating your company while making the most out of the resources we put at your disposal. This is why we do encourage you and your team to do it at our Next Age Accelerator’s offices in Ancona.
Yes, you do. At least 2 members of the founding team will be asked to be in Ancona the first and last month of the acceleration program. The 2 months in between are designed in order for the team to be able to follow the activities remotely. The reason we require your presence on-site for at least 2 months is to build long-lasting meaningful connections to other fellow entrepreneurs, our mentors and industrial and scientific partners. Nevertheless, we do encourage you relocate to Ancona for the whole extent of the program, 4 months.
Yes, we do. We can provide suggestions according to your needs. Please clearly mention you need relocation support when filling in the application form.
English is the official language of the program because international operator SOSV will be leading the program. You may be asked to confirm your English skills before acceptance to the program.
It is recommended but not mandatory when applying. However, if your company is selected to join the acceleration program and is not yet incorporated, the startup team will be asked to incorporate as an Italian legal entity. You have 45 days from the day the investment term sheet is signed by the parties to incorporate.
Yes, you can. However, if you are selected to join the acceleration program and are not yet incorporated in Italy, the startup team will be asked to do so. You have 45 days from the day the investment term sheet is signed by the parties to incorporate.
Yes, we do. Please clearly mention needing incorporation support when filling in the application form.
Yes, you can. Should this be your case, please clearly mention it when filling in the application form. If non-confidential, tell us the investment agreement you have reached or are negotiating.