UON SLINGSHOT ACCELERATOR PROGRAMUON Slinshot Accelerator Program

About

The UON Slingshot Accelerator Program

Applications are currently closed

The first intake of the UON Slingshot Accelerator program runs from January to March 2014.

About the Program

Slingshot is a high-tech accelerator initiative that, in conjunction with UON will provide seed funding, a co-working space, and a 12-week mentoring program that nurtures skills and relationships to enable entrepreneurs to build a remarkable company.

The UON Slingshot Accelerator program supports a maximum of 10 start-ups exclusive to the UON community and the program is expected to run every year over the summer break from January to March.

UON encourages translation of research outcomes and discoveries into innovative products, solutions and policy through collaborative engagement in research projects with industry, business and government partners in its local, national and global communities.

Through this unique partnership we aim to support world-class innovation in our region.

Are you the right fit?

Ideal applicants are people who are passionate, committed and unwavering in their desire to see their start-up idea succeed. Early stage companies with high growth potential make good candidates for seed funding. Other factors that can be an advantage are:

  • Start-ups that are web based, digitally focused (you use the web to sell)
  • A truly unique idea or concept either B2B or B2C
  • Scalable globally with large markets, users and revenue as a goal
  • Start-ups that require little capital to develop a MVP (minimum viable product) and be able to gather key new market metrics such as customer acquisition, activation, referral, retention and forecast revenue models within the period.

Competitive Selection

The UON Slingshot Accelerator Program will select the best ideas to move into the Accelerator phase, with $50,000 of seed funding available to be distributed among these.

The selection process is thorough and has the input of experienced professionals and entrepreneurs. To secure a place in the UON Slingshot Accelerator Program is an achievement in itself. Then the hard work begins.

After the selection process is complete, up to 10 start-ups from the UON community will be invited to participate in the program. The goal is to have all of the start-ups able to have the necessary minimum viable product, metrics, leadership and corporate structure in place at the end of the program to attract next stage funding either locally or internationally.

12 week program – the 'Accelerator"

UON and Slingshot will provide a 12-week accelerator program to help take your idea and build it into a scalable global company as quickly and effectively as possible. Here's what it is and what you get:

  • A share in $50,000 in funding and the opportunity for second round investment. You should expect a minimum of $5,000
  • Slingshot and UON take an initial 7.5% stake in companies accepted into the program
  • Free co-working space, legal and accounting support as well as  events and marketing support
  • The best mentors in the space
  • Backed by an awesome set of partners, government and sponsors
  • Access to investors in Australia, the USA and Asia
  • Support, access, infrastructure, belief and critical appraisal

Mentors

The UON Slingshot Accelerator Program will be provided by a select group of Mentors who have deep experience in each area. Slingshot will also provide you with specific Mentors dedicated to your niche or area of need. Our Program Mentors will coach you in the following areas:

  • Lean Start Up methodology
  • Branding and Marketing
  • User acquisition
  • Revenue Models
  • Pitching for funding
  • User Experience (UX)
  • Legals
  • Financials
  • Corporate Governance

Slingshot has designed the program with the input of Mentors sourced from the Startup community.

Following completion of the program, Slingshot will still provide the support to Slingshot Alumni for up to another six months. This time will be used to complete the product and compile the necessary data set that will be used as evidence to gain a second round of funding needed to grow the company.

If you are interested in becoming a mentor, visit the Mentors page for further information.