LOGISTICS & APPLICATIONS

Why your FAQ section is so similar with the one of Y-Combinator ?

It is similar indeed since we have used it as a reference. You always need to learn from the best.

If I apply to your call and don’t make it can I apply again? What do I need to do to be more competitive the next time?

Yes, you can apply as many times as you want. Our evaluation committee will provide you with feedback on your idea and presentation anyway, even if you are not selected. You can consider the feedback and apply to our next call being more competitive. You can also apply for our open mentorship program where one of our residence mentors can help you on optimizing your idea and presentation. There is again a selection here though, since this service will be provided to startups that have what is needed (idea, team) but are not ready yet for our program.

This is the first time I am doing this and I need some help on preparing my application and presentation. Can you help me on this?

Yes, we can. Just contact us and one of our residence mentors will communicate you to guide you through preparing a competitive application.

We do not want to enroll your program, but will you give us advice and guidance?

Yes, of course. Just follow our Gravity Open Program and you will find out everything you need on this. We are here to support and develop the local startup Ecosystem and not only the startups enrolling our program.

Can a single person apply?

Yes, but the odds of getting accepted are lower since it is very difficult to develop a startup alone. It will be too much work for only one person and we prefer the pre-seed investment to be spend mainly on product development and not on hiring personnel. If you are alone though do not be disappointed. Give it a try and if your idea is that good we will figure it out

Do you accept applications from startups with a product or service within specific thematics, i.e. financial services, bio-tech etc.?

No, for now we are accepting applications from startups in any field or thematic.

Do you accept and fund startups with a software or with a hardware product?

We accept applications and fund startups in any field. What changes though is their process through the incubation cycle since software startups usually require less time to develop and reach the seed stage while hardware startups require much more time since their development includes prototyping, placing a patent etc.

We have already taken some funding. Can we still apply?

Yes, you can.

Is there any specific stage where a startup must be in order to be able to apply to your program?

No, although our program is tailored on very early stage startups (bootstrap or pre-seed stage) we will consider applications from startups at the seed stage. In these cases, we will prepare a different program for them since their needs differ. We will not accept applications from startups at further stages than Seed (i.e. Series A etc.) but startups at this stage can contact us if they believe we can be of any help for them.

If accepted do we need to be there (Gravity premises) every day or can we work from home? What about if we have a day job and we do not want to quit?

You can work for home but not every day. There is a reason we provide working space since our program is tailored in a way where daily interaction with our mentors is important. It will be in your favor and you will reach your goals much sooner if you are working every day at Gravity. Now, regarding having a day job, hmm, this might be a problem. We require determination, passion, focus and commitment from our entrepreneurs. Our program is intensive and will be a lot of work for part time engagement. If you are a team (2-3 persons) and one of you has a day job and wants to keep it, is something that could be handled.

Which are the main evaluation criteria? How do I make a successful and competitive application?

The first and most important criterion for us is the Team. We take into great consideration the quality of the people as well as their competences. It is very important for a team to be capable as much as possible to cover all the aspects and competences required for the product/business to be developed. We will help you as much as we can but we cannot make the product for you. Moreover, a good team will be able to tackle any obstacles in the process as well as pivoting if the initial idea does not seem to have a future at any stage. For all the evaluation criteria as well as how to make a successful application read the Apply to Gravity guide.

Do we need to prepare a business plan?

No, it’s too early for a business plan. If though you have one or your startup is at a later stage than the pre-seed you can prepare one and upload it at the “Other Relevant Documents” Section at the end of the Application Form and we will consider it in our evaluation.

Which are your exact offerings beside the cash investment?

Beside the cash investment we offer to the startups working space for all the duration of the incubation, access to product development and prototyping IT and Technological infrastructure as well as a number of specific services to develop their product and business. For a more detailed analysis of our non-cash offerings please read our Offerings Page.

How much do you invest and how much equity you get?

Our expectation is that most of the applications we will receive will be from very early stage startups, most possibly at the bootstrap or pre-seed stage (for better understanding of the startup phases please read our Startup Phase Guide). It is very difficult to calculate the value of such startups or teams but anyway we do not invest based on evaluation. Our role is to act as “co-founder” and offer to the startups all they need to reach quickly the seed stage and secure further investment. Considering all the above our investment is calculated to be between €100k and €150k with the exact amount to be defined based on the type and the stage where each startup is. Our investment is a combination of cash, facilities provision and a package of services catered on each startup’s needs. The cash amount is estimated between €10-15k and its scope is to give to the team the money required to cope on for the duration of the incubation cycle. The equity we expect to receive as a return of our investment is between 15-20% again depending on the startups type and stage.

When will the next incubation cycle application process take place?

Our plan is to open 2 application calls per year. This might change though based on the applications we will receive per call and the number of teams that will be selected to enroll our program per cycle.

What is Gravity?

Click here to read all about Gravity Incubator.