build3 impact accelerator:
30 aspiring entrepreneurs. a gazillion ideas. one beach villa
throw spaghetti on a wall and see what sticks! the accelerator is a laboratory for discovering ideas and building impact startups that scale.
similar to a three-legged race, you will work closely with your fellow cohort members to achieve startup success. the environment at the accelerator is designed to break the ice between participants, cultivate a deep understanding of each other's strengths and discover ideas that you would like to work on together.
the accelerator is a 6-month program. entrepreneurs who get selected will receive a stipend of ₹40,000 per month for the first 2.5 months, to cover their living costs. if the idea shows promise after 2.5 months, we will invest up to ₹25 lakhs to help build your idea.
stages
1
ideate
2 .5 months
2 Oct '23 - 15 Dec '23
discuss. debate. synergise
this part of the program is designed to help you find your partners in crime and finetune your ideas.
by the end of the ideation stage, you should have:
a) found the people that you want to work with.
b) an idea that your team is stoked to build.
to be a part of this stage, build3 will take up to 3% equity* in your current or future company.
* 1.5% each for mentorship support and the platform to find a co-founder respectively.
2
create
3.0 months
16 Dec '23 - 15 Mar '24
build. break. iterate. repeat
here is where you race to achieve the coveted product-market fit status with your team.
by the end of the create stage, you should have:
a) a product that is validated by the market and ready to scale.
b) a clear path to profitability
to help you meet the criteria mentioned above, build3 shall invest (selectively in a few companies) up to ₹25 lakhs to build your product against up to 5% equity in your company (on top of the previously mentioned up to 3% in the ideate stage).
3
investothon
0.5 month
16 March '24 - 31 Mar '24
it's off to the races!
in the next 15 days, you will meet purpose and sector-aligned investors and vendors, rapidly closing the seed-funding round
by the end of investothon, you should have:
a) secured seed capital to scale your startup
b) locked-in strategic partners for your journey
build3 shall co-invest in this round along with other investors and while the accelerator may end here, our partnership is for life! build3 will continue supporting the startup through a mix of office hours and mentor connects.
the application process
our application form is designed to flex your startup mindset 💪 and let your personality shine.
we are excited to know more about you as a person, what your motivations are for joining the program and the skills you bring to the table.
the application process is divided into three stages. you move on to subsequent stages of the application process if you meet the criteria of the previous stage.
the ferrero rocher
This stage involves a detailed application form to delve deeper into your motivations for building an impact startup and the skills you bring to the table. You will receive a reply within 4 days of submitting this section
the lindt lindor
This stage consists of interviews that determine your ability to think on your feet, your ability to work well with others and your technical skills. You will receive a reply within 1 week of giving your interviews.
the dairy milk
This stage includes a short application form to determine if you align with the purpose of the accelerator. You will receive a reply within 2 days of submitting this section.
faqs
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how much equity does build3 take?equity held by build3 is divided into 3 stages - 1. ideate stage: candidates shortlisted into the program offer 3% equity to build3 (1.5% each for mentorship support and the platform to find a co-founder respectively) in your current or future company. 2. create stage: build3 collects up to 5% additional equity for PMF investment and support for up to ₹25 lakhs of investment 3. investothon:you will meet purpose and sector-aligned investors and vendors, rapidly closing the seed-funding round, where build3 may co-invest.
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how long is the program?the discovery phase where you ideate and discover potential co-founders is 2.5 months. this is followed by the establish fit phase for 3.0 months where you figure out your MVP. the program concludes with the investothon which is 15 days. so in total, the program is 6.0 months.
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when does the accelerator program start?Cohort - 1 starts 2nd October 2023
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do I need to have an existing idea or team?no, don’t worry about it! we’ll help you all the way from ideation to team building to building your dream startup! if you’ve got an idea, that’s great too! all you need is the drive and passion to create something awesome!
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how much does build3 invest in every startup?a stipend of INR 1,00,000 per founder for two and half months to kickstart your journey. once you discover product-market fit, we offer funding of up to INR 25 lakhs to help you scale your startup to new heights followed by investothon.
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what are the expenses i’d have to bear?you’d have to pay for accommodation and food. you can access the cohub (read more here, we have a special monthly price for accelerator participants) and every meal costs about Rs. 100 - 150 on average.
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can I join remotely?unfortunately not :( to ideate with your potential co-founders, you need to physically be present in Goa. serendipity occurs in close proximity!
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going into the create stage would build3 entertain non-impact ideas?nope, we are only motivated to work with impact-focussed startups. it's always profit AND purpose at build3. you can read about how we measure social impact in this lucidly written article by elton on why did build3 come into existence and abhimanyu on How do we measure social impact at build3? you may also read our ‘about us’ page to know more about our motivation for choosing to work with impact focussed startups.
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what if I don’t match with any co-founder?no issues, you can still pitch to the investment committee but please note that startups with at least 2 co-founders have a higher chance of moving to the next stage. you can read more about the advantages of having a co-founder through this article: The advantages & challenges of building a multi-founder startup.