1. What does the program offer?
CapsuleT aims to support and accelerate the growth of innovative tech entrepreneurial ventures working in the tourism sector, by offering a place to advance their:
– Business skills through workshops, tailor-made meetups and other events
– Collaboration with pears, mentors, and CapsuleT’s members
– Network, by connecting them with industry experts and clients thanks to exclusive on-site visits, as well as with the members of the Hellenic Chamber of Hotels
– Business promotion and visibility in the Greek tourism market and media
The duration of the acceleration program for each cycle will be 3 months with the option for startups to stay as a resident additionally for 3 months and continue to use the facilities for free. More specifically, each startup will have:
– Αt least 2 work stations/office spaces available for team members to work throughout weekdays
– Free WiFi
– Access to printing/scanning equipment
– Availability to book and use meeting rooms or other open meeting areas and
– Of course, free coffee!
Moreover, extrovert activities through learning and networking sessions, participations at trade shows and delegations abroad are also a key element of the program, in order to connect Greek teams with the rest of the world.
2. Does the program offer any financial support or awards?
Upon completion of the program, once the 3-month period has come to an end, 3 teams will be announced as the winners of the current cycle, receiving 10.000, 5.000 and 3.000 euros respectively. Apart from the 3 winners, all teams that have completed successfully the program will receive the amount of 2.000 euros as a small financial aid to help their immediate operational expenses.
Additionally, kindly keep in mind that the program is offered to the selected candidates free of charge and without any financial requirements (equity or stocks from your company).
3. Which industries are relevant to this accelerator?
We expect applications for ventures that offer product or service solutions in fields such as:
· Hotel management & services (hotel management, revenue management, channel management, HR management, guest products & services etc)
· Distribution & Transfers
· Booking engines & ΟΤΑs
· Activity providers, tour organizers
· Energy, natural resources and environmental solutions
· Specialized communication and promotional solutions
Startups may specialize in technology such as: Internet & web platforms, Mobile apps, Chatbots, Software, Hardware, Energy solutions, Mobility & Transportation solutions, Blockchain solutions, AI solutions, Big Data, Internet of Things.
4. Which are the Eligibility Criteria?
The Eligibility Criteria that are required, regarding the choice of the tech startups working in the tourism sector that will join our Acceleration Program during its second cycle (Spring 2020), are the following:
– Applicants must be over 18 and have Greek nationality or residency (this regards the founding team).
– Eligible candidates to secure a place in the program must be tech startups with a completed business proposal, must have at least a working prototype to showcase live and a team with at least 2 founding team members to support the venture (and a maximum of 10 team members).
– The startup must have incorporated less than 4 years and has received funding less than 500.000 euros.
5. Is it required to attend the program in person?
Yes, this is a requirement of the program. Selected startups must have the time to commit and attend our program for a period of 3 months. Commitment includes regular weekly attendance at the accelerator’s premises (at least 2 attendances per week), attendance to all workshops & events when invited with at least one team member (1 workshop and/or 1 event per week), time to work with your mentors and the enthusiasm to collaborate with the rest of the participants of the program. As an example of the timetable of the program, workshops and events are usually scheduled early in the afternoon, on-site visits can be a daily event (from 10 a.m. till 18 p.m.) and exhibitions require full attendance with at least one team member on site. Attendance is required and each team has up to 1 absence available during the program (regarding either 1 workshop or 1 on-site visit).
6. Do I have to pay fees or other kind of deposits to be included in the program?
The program is offered to the selected candidates free of charge and without any financial requirements (equity or stocks from your company). Nevertheless, any kind of expenses such as traveling and accommodation in Athens, or expenses regarding financing your company, product or service development fall upon your startup. In specific cases, and when possible, expenses regarding fee participations in bootcamps, exhibitions, trade shows and other relevant events may be covered by the program and offered sponsorships.
7. How can I get ready for my application?
The application questions are essentially your business plan or your VC pitch deck broken down into questions. In this way, judges and the organizing committee can read and evaluate your startup easier and compare it with other applicants in a more similar way. Before submitting your application, please make sure you have carefully read the Application Questions.
Then prepare all your answers in a separate file (e.g. word document) on your desktop. Keep in mind that there’s a character limit per answer (as described in each question). Take into account that, once you submit all your answers, you will not be able to edit or remove them. Kindly remember that only one application per team will be accepted.
8. Who are the judges? How many judges will review my application?
At least 2 judges will review each application. They will be selected from a diverse pool of industry related experts, business executives, serial entrepreneurs, business consultants and others, in such a way that their expertise will be relevant to the application’s field of interest. Judges are asked to provide unbiased feedback on each application in order to select the teams that will enter the program. How about having a look at all the judges that contributed to our initiative during the 1st cycle of the program (September-December 2019)? Click here!
9. Which are the key evaluation criteria when reviewing the applications?
The main evaluation criteria to be considered by the judging committee and resulting from the whole application are the following:
– The idea regarding its innovation and the solution offered to a problem of the tourism market, the level of originality and uniqueness of this particular solution and the level of technology used for its implementation.
– The team regarding its members according to their background (education, relevant experience, experience and skills related to the subject and the market), their qualities (dynamics, object knowledge, methodology, role distribution, a.) but also their perception and dedication to the implementation and expansion of their company in the market.
– Business “maturity” and the product/service’s potential in terms of scope for further growth, expansion in the Greek and global market and profitability prospects.
10. Who are the mentors and when can I have access to them?
Each of the participants of the program will be assigned at least 2 mentors for the whole period, from a diverse pool of industry related experts, business executives, serial entrepreneurs, business consultants and others, to assist in improving the performance of the team. Through their mentoring, participants will refine all aspects of their venture focusing especially on the areas of their business that need more attention to excel. Selected mentors have backgrounds in a variety of background and expertise including finance, legal, tourism business operations, tech experts, communication and marketing and so on. Additionally, we will run “Experts Mentor Days” events, in which distinguished members of the tourism industry will provide guidance and their know-how to the program’s participants.
How about having a look at all the mentors that contributed to our initiative during the 1st cycle of the program (September-December 2019)? Click here.
11. Who is going to evaluate my progress during the 3-month program?
The Judging and Advisory Committee of the accelerator. You can have a look at the Committee of our 1st Cycle here. This Committee will meet the teams/startups of the Acceleration Program on a regular basis in order to evaluate and offer advice to the team members for their future steps.
12. What is the content of the workshops and do I have to attend them?
Participants will have the opportunity to attend a variety of workshops that will help them develop and refine all aspects of their venture. The workshops will be focusing on business skills and issues such as Digital Skills, Business Strategy, Pitching, Investment Preparation/Finance, Sales, HR management and Leadership, Communication and others. At least one team member must attend each workshop. Attendance is required and each team has up to 1 absence available during the program (regarding either 1 workshop or 1 on-site visit).
13. What about securing Confidentiality & Intellectual property?
Please read carefully the “Rules and Conditions of Participation” before submitting your application. When you submit your application to the CapsuleT Travel & Hospitality Accelerator, the judges, and mentors who review your materials do not sign non-disclosure agreements. Therefore, you should assume that any information submitted to the program is not protected, and plan accordingly. Therefore, you need to craft your materials to present what you can without revealing any information that would compromise your IP protection strategy, more or less as you do when giving an initial pitch to a VC.
14. How will I be notified of my application status?
All applicants will receive feedback from the judges electronically through the application platform. The selected teams with the highest scores will be notified directly for an interview in order to finalize their participation. All participants will be announced publicly online through the CapsuleT website capsuletaccelerator.gr as well as through a press release to media.
*How can I receive general updates regarding the CapsuleT Travel and Hospitality Accelerator?
You are welcome to join our newsletter list. In addition, if you have any further inquiries regarding the program please contact us at firstname.lastname@example.org.