How will Takeoff Accelerator invest in my startup?
Our Takeoff Accelerator agreement works similarly to the American (simple agreement for future equity) safe model. It involves limited paperwork and legal fees, with the €120,000 investment taking the form of a convertible security of which 46% is benefits-in-kind.
What is the time commitment required during the program?
Our facilities are state of the art so we encourage you to take advantage of them! Between working hours, mentorship sessions, and workshops you’ll be in the office at least one full working day per week. We know that you’ll be working on your startup a lot more than that so that’s why we provide unlimited access.
Do we have to be in Turin for the acceleration program?
The short answer is yes. The long answer is that we require at least one member of the founding team to base themselves in turin during the accelerator activities. Why? To really take advantage of all the benefits of the program and of our team.
What language will be used during the program?
English is the official language we use for all Takeoff Accelerator program related activities and communications.
Does our company need to be incorporated before applying to the program?
Though recommended, it is not mandatory. If selected, startups that are not already incorporated can still access the program by doing so as an italian legal entity by a pre-agreed date.
Can I apply if I am not based in Italy?
Yes, you can. However, if you are selected then you will need to begin the process of becoming an italian legal entity (it can be a subsidiary of your current company).
We would like to apply. Is the confidential information we are sharing safe?
All applications will be treated with complete confidentiality and shared only within the members of the selection panel.
We have applied, what happens now?
After the applications close, we will begin the selection process before finally choosing the top 20 applicants. The top 20 will then be invited to present their company on Takeoff Accelerator selection day. Selection day is a virtual closed door event where you will pitch in front of our stakeholders who will then choose between 8-10 startups they believe have the most potential. If your startup makes the final 10 then congratulations! Get ready to takeoff!
We are already in talks with other potential investors (or we have already received funding from other investors). Can we still apply for the program?
Yes! We are open to co-investment opportunities. If this is your case please state this on your application including, if possible, the amount of investment you have already or are going to receive.