IOTA APAC Accelerator
From 24th of June to 20th of September
Singapore
Applications are open for IOTA APAC Accelerator. We are looking for start-ups who are building products/solutions on EVM. IOTA APAC Accelerator is a 12-weeks program to bring start-ups in the mentioned themes onto IOTA EVM and support these start-ups with resources to help them scale and grow.
During the 12-weeks, start-ups will get to interact with IOTA Foundation Team and Industry Experts. There will also be Masterclasses on topics to help the cohort identify and strengthen their business proposition, and ending with a Demo Day where the cohort gets to pitch to investors for funding during Token2049 week.
Deadline of application: 3rd May 2024
IOTA is a global not-for-profit foundation, incorporated and headquartered in Germany, Switzerland and Abu Dhabi, dedicated to revolutionizing real-world assets (RWA) and tokenization through its support for distributed ledger technologies (DLT). The IOTA Foundation's mission encompasses the research and development of innovative DLT solutions, fostering education, and facilitating the adoption of these technologies. By creating vibrant ecosystems and advocating for standardization, the Foundation is at the forefront of enabling secure, scalable digital innovations in asset management and beyond.
Strong, technical founding team that leverages (or plans to leverage) IOTA EVM to build awesome products
Developed at least an MVP –the more user adoption and validation you already see the better
Bold, visionary entrepreneurs with the goal to build a scalable, growing business
Teams that are building products/ services for Real World Assets (RWA), DeFi, Institutional DeFi Services and Infrastructure are encouraged to apply.
Submitting an application requires you to be at least 18 years of age and not a citizen of, or located in, a country or territory on an OFAC Sanctions List. To benefit meaningfully from the program, you should at least have an MVP that can capture sufficient market demand. Ideally, you’re part of a technical founding team, have developed a strong product, and demonstrate entrepreneurial drive.
For more information and a broad range of resources, incl. reference docs, visit iota.org. The IOTA is entirely public open source. Find a number of source code examples and tutorials here https://wiki.iota.org/. A great way to engage with the IOTA community is joining the Discord channel. An understanding of the ledger and the technical ability to execute your project by the core team are critical elements in our assessment.
Not necessarily. We will, on a case-by-case basis, consider applications submitted by small teams pre-incorporation. Potential venture funding after concluding the program, however, is only accessible to incorporated entities and not individuals.
Not by default. We understand each startup has a unique growth path, need for funding, and commercial potential. When concluding the program, early-stage investors assess each startup individually for a fair valuation based on funding requirements. Finishing the program does not guarantee an investment offer. If an investment offer is extended to your team, it is up to you whether or not to accept the term sheet/conditions; joining the program entails in no way any commitment to give away equity. Startups can join the program irrespective of when/how/if they plan to raise funds. Your fundraising objectives play no role in evaluating your application; we evaluate based on product, team, traction, and scalability.
We accept teams that are building on IOTA EVM and have at least an MVP or a roadmap to launch one. Further, evaluations will be based on whether your team has strong technical foundations and is devoted to the project. Your team should have a strong hypothesis on its market validation and there should be sufficient market opportunity. In evaluating your application, we take a balanced, holistic approach, and blend quantitative with qualitative factors. If you’re unsure about the readiness of your startup for the accelerator, please feel free to get in touch, or submit your application regardless as you may always reapply.
Yes, we strongly encourage you to do so. If you reapply, please emphasize the progress you accomplished since having submitted your previous, unsuccessful application.
Submitting an application should take no more than 15 minutes. We ask you to provide details about your product, traction, and organization. You can upload supporting materials, preferably a pitch deck. Please submit your GitHub repo and ensure it’s accessible to us for faster reviewing.
Yes, we strongly encourage recipients of other IOTA funding programs or Tenity programs to apply for the accelerator program. Whether your team benefited from other IOTA funding programs before will have no impact on how we evaluate your application; all we look at is your product, team, traction, and scalability.
Yes. We do, however, strongly encourage you to apply for a cohort that best suits your business interests and team setup. Mentor availability and curriculum delivery align with the timezone of the program location. Part of the program content is tailored to the respective region. Each cohort features an on-site demo week at the end of the program; we strongly encourage each participating team to make use of this opportunity. We aim to align the on-site demo week with a global blockchain conference in the respective location.
No, the default format of the program is hybrid and predominantly virtual. You are welcome to join us on-site at all times, but if you’re unable to travel, you can still access all benefits the program offers. Each cohort features an on-site demo week at the end of the program; we strongly encourage each participating team to make use of this opportunity. We aim to align the on-site demo week with a global blockchain conference in the respective location.
The award amount you request should be determined by the scope of work that you wish to complete using your grant. Your application must contain milestones/scope of work and a budget breakdown detailing how you intend to spend any awarded funds. Your budget should include estimates for conversion rates and taxes.
The IOTA APAC Accelerator program is offered by IOTA Foundation
No, solely participating in the program does not by default make you an affiliate of IOTA Foundation. The terms for participating do not alter the terms or conditions of any other agreement you may have with IOTA.
No, the award can essentially be seen as a grant and is to support your team throughout participating in the program. The program award requires no equity or commitments from you in return. Each recipient is responsible for determining possible tax implications of receiving such grants, which depend on your respective jurisdiction. A small, capped portion of no more than $10,000 USD is earmarked for program-related expenses and services your team will benefit from, such as legal advisory (favorable terms & rates) or mentoring.
This primarily depends on your individual goals and what your team aims to get out of the program. Pre-scheduled, fixed program elements will not exceed 3h per week, but you are strongly encouraged to engage with mentors, experts, and other program content as much as possible.
Terms & conditions can be viewed here.
