Start-ups: SigmaLabs wants to accelerate your success.
SigmaLabs, a start-up accelerator by Entree Capital and Yahoo , is now open for applications to join their second wave. The submission dead-line is December 31st.
What they offer: the program lasts for 4 months, during which they will provide office space, personal, ongoing mentorship, and office hours, from Yahoo and Entree, as well as various industry experts, lectures and special events. They aim at giving you the fundamental tools needed to optimize your likelihood of success; you will gain the perspective of entrepreneurs, investors, and Yahoo technologists and executives. Importantly, as a baseline, they take no equity, and the program is free; no catch. Their primary motivation is your success and growth.
SigmaLabs has three voluntary equity programs:
As part of the ‘give back’, startups are encouraged BUT NOT OBLIGATED to make a donation in equity back to SigmaLabs – this allows them to hopefully share in your success and finance the accelerator for many waves to come
Any startup that graduates with a score of over 80% may, at its own choice receive a convertible note of $25,000
A $250K convertible from a ‘prominent venture capital firm’ will be provided to the single start-up (if he chooses to accept) with the best traction which meets its criteria
What they look for: they are targeting pre-seed/seed start-ups across six verticals:
Software for IoT
The founding team must be working on a full-time basis, and include at least one technical founder - you need to be able to build your product and move fast.