4. How many Shares will LVenture get after the conversions?
The total dilution depends on the valuation of the startups at the round that follows the Acceleration Program. The startup should expect a dilution between 8% and 11% if LVenture invests €160K
Acceleration Program - FAQs
1. How does the investment deal work?
LVenture Group invests in the startups selected for the Acceleration Program up to € 160k divided in:
€ 60K in services for 6% of Equity;
€ 50K in cash during the program via a Convertible Note with a 25% discount on the pre-money valuation at the first funding event;
€ 50K in cash at the end of the program via a Convertible Note with a 25% discount on the pre-money valuation at the first funding event;
2. What is included in the € 60K of services? What is the support provided during the Program?
LVenture Group provides support through various initiatives and services:
5 months of co-working space for up to 4 people in Milan or Rome;
Tech perks up to € 2M (Cloud, payment systems, CRM, etc.);
Support from LUISS EnLabs’ Acceleration Team (project and product management, legal & accounting, sales & fundraising, PR & communication, talent management and acquisition);
Specific workshops planned in accordance to the startups' development stage;
Weekly one-to-one with UX/UI, Tech and Marketing professionals;
Mentoring from qualified advisors on the main aspects of startup development;
A dedicated team for fundraising support.
3. There is a CAP and/or an interest rate on the Convertible Notes?
No, we don’t set a cap nor an interest rate on the convertible notes. We just have a 25% discount on the pre-money evaluation the market will give you at the first funding round.
1. When does the Program start?
2. How long does it last?
3. What’s a sprint?
4. What are the sprint goals?
5. Which activities are carried out during the Acceleration Program?
a) Product optimization and project management (Tech&Management)
b) Metrics building and traction on the market (Marketing & Sales)
6. Are there any events to attend?
a) The team is required to participate in several Acceleration Program events to present the startup to a selected audience of advisors, corporates, and investors;
b) We always suggest participating in the numerous events that take place in our offices.
7. I already have investors who invested/want to invest in the startup. What should I do?
Cool, show us your cap-table and we’ll understand if there is space for our investment too.
We run 2 Batches each year, the Winter and the Summer one. The Winter batch starts in December and the Summer one starts in June. For the exact starting date check periodically our website and you will find all the info about the application window (and link) and the program dates.
During the first week the whole batch, regardless of the HQ of choice (Rome or Milan), is requested to be in Rome for the program kickoff.
5 months, divided into 11 sprints of 2 weeks each.
It’s a 2-week timeframe in which the startup must grow its value through achieving measurable technical and business goals.
In every sprint, the startup must set measurable technical and business goals and prove their achievement to the Acceleration Program team.
1. How can I apply to the Acceleration Program?
On our website, you will find the “APPLY NOW” button with a link to the application form. The application is done on the F6S portal – the biggest Startup & Founder community.
2. What is the language of the application form?
3. Is there a minimum number of team members needed?
No, however, we suggest you have a team of at least 2 founders.
4. Must the whole team be dedicated full time to the startup during the Acceleration Program?
Yes, the founders and the team members needed for the startup development must be dedicated full time and physically follow the Program in one of LVenture Group’s Hubs in Rome or Milan;
Any other support founder, employee or collaborator, can work part-time and/or remotely.
5. Can we choose the city were to follow the Program?
You can tell us your preference. We will take it into consideration for the final choice.
6. Do you provide accommodation?
No, however, we have discounts in some hotels around the Hubs.
7. Do I have to provide the startup’s business plan?
No, just a general presentation of the startup with the key figures that represent its business.
8. Does my startup need to be already incorporated?
No, we actually prefer startups yet to be incorporated.
9. I made the application, what are the next steps?
The selection process last 8 weeks and it’s made of 2 steps:
First step: some startups will be contacted for in-depth analysis with the Acceleration Team. In this call will be discussed startup’s Metrics and explain the general terms of the deal;
Second step: selected teams will receive our Term Sheet and upon its acceptance, they will speak with the Investment Board which will make the final decision;
You will receive an answer on the results of the selection at the end of the 8 weeks;
The program will start 2 weeks after the final selection.
10. My startup has already a product and clients. Does the Acceleration Program make sense to me?
We've funded many startups like that. In fact, we especially like them and now, unless you are doing something spectacular, there is no way to get in our program unless you have some kind of market validation. We can probably help any startup that hasn't already raised a round from VCs.
11. Will you sign a Non-Disclosure Agreement (NDA)?
No, we’re investors, not entrepreneurs. Our job is to help you grow your idea, not to steal it. Don’t worry, we will be the only one reading your data and we won’t use them.
12. I have a great idea for a startup, but I'm not technical. Will you still fund me?
The founding team needs to have the skills to build their product themselves, rather than outsourcing it to someone else. For most businesses, that usually means you need a technical co-founder.