THEY SAY ENTREPRENEURSHIP IS ABOUT JUMPING OFF A CLIFF AND BUILDING A PARACHUTE ON THE WAY DOWN. THE ACCELERATOR TEACHES YOU TO GROW WINGS.
The Generator’s Accelerator Program is a three-month intensive to accelerate your startup. Once a year we provide up to $10,000 funding, dedicated co-working space and tailored mentoring to a small number of startups selected through a competitive application process. We take no equity in the startups that come through the program.
This program is intensive and focused on helping startups to gain early traction. Successful startups are homed in the Generator’s dedicated co-working space located at Monash University Clayton Campus, alongside our Entrepreneur in Residence. As a founder, you’ll have access to some of the best mentors in the ecosystem who have founded and scaled startups, and support from professional services including law firms, accountants, creative agencies and technology platforms.
The program culminates in a showcase, a public event where startups pitch to a diverse crowd.
Applications for the 2018 program are now open and close 11.59pm Sunday 6th May 2018.
WHO CAN APPLY?
At least one (1) founder of your startup must be a student, staff or alumni of Monash University. A founder is defined as someone with minimum 10% equity in the startup. The rest of your team can be composed of whoever makes sense and do not need have an affiliation to Monash University.
In addition to this, your startup company must have or is able to obtain an Australian Business Number (ABN) prior to the start of the program on 25th of June.
You must also be in a position to attend all core components of the program between June and September. We try to keep these to a minimum, to ensure you are spending the maximum amount of time building your business. Though when we do hold events, know that these are designed to benefit your business and you’ll get a tonne out of it.
The program is designed for startups who are at a point of committing to building their business full-time. While we understand there is a need to continue to study and work, we want to see at least one (1) founder in the co-working space every day. In our experience this is the minimum level of commitment required of a startup team that is serious about accelerator growth. If you have concerns about your capacity to commit in time or energy please have a chat with us. We want to help startups succeed and are open to creative solutions.
The application process includes three stages:
- Round one: online application form plus a video introducing yourself and your co-founders. Applications close midnight 6th of May 2018.
- Round two: detailed form completed by each founder.
- Round three: team interviews with key founders in the week of 28th of May.
|Mid March 2018||Applications open|
Sunday 6th May 2018
|Monday 28th & Tuesday 29th May 2018||Final interviews (you will be notified as to whether you have been invited to an interview by COB Monday 21st May)|
|Week ending Monday 28th May 2018||Successful teams notified|
|Monday 25th June 2018||Program commences - Induction Day|
|Mid September||Program Showcase|
APPLICATIONS ARE NOW CLOSED
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Q: Do you have to pay the money back?
No. The money from the Generator as part of the program is a grant, not a loan, so you don’t have to pay the money back. Even if your business doesn’t succeed we don’t expect you to return the grant.
Q: Does The Generator take any equity in my startup?
No, but we do expect founders to give back to the community in two ways. First by growing incredible and sustainable businesses. Second by participating in our culture of paying-it-forward by passing on your learnings to the next generation of founders. This may involve being a mentor, guest speaker or workshop leader. Please note this does not preclude any claims to intellectual property by Monash University or other third parties. We recommend you seek professional advice if there is any uncertainty about ownership.
Q: Can you use The Generator grant to pay your salary?
Yes. The money is to be used to pay for business-related expenses in order for your business to make the most progress during the program. This can include founder salaries if that makes the most sense for business and situation.
7 Innovation Walk (AG03), Clayton VIC 3145