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Bilan levée de fonds start-up - juin 2014 - frenchfunding

Bilan levée de fonds start up juin 2014

4 juillet 2014/0 Commentaires/dans levées de fonds, témoignages et analyses /par [email protected]

via frenchfunding.fr

Global Insurance Accelerator

These initial questions are often asked of an accelerator program. We expect this list to grow and shrink as the program takes shape over the next several months.

Q: Who should apply to this program?
A: The ideal applicant to this program is a company/group who feels they have an innovation in the area of insurance. We aren’t just considering technology solutions such as applications or websites, but rather a wide range of innovations ranging from unique ways to quantify risk, actuarial analyses, cost management, hardware/software solutions, sales solutions, and of course software applications related to insurance.  We are not seeking retail agencies or new brokerage applicants.

Q: Do I need to be incorporated to apply?
A: No, an applicant doesn’t need to be incorporated to apply but will be required to incorporate upon acceptance to the program to receive funding, share equity, and execute necessary participation documents.

Q: Do I need to relocate to Des Moines to participate?
A: Yes. Des Moines has a large mind-share among insurance leaders and participants will receive benefit from such proximity and co-working opportunities. The founder and the applicant team will all be required to be present in Des Moines for the duration of the program. We will arrange housing options near the accelerator office space for accessibility.

Q:Will you help with immigration requirements as I/my cofounders/my company are outside the United States?
A:Yes, once you arrive here legally.  The US immigration system consists of a myriad of visas that are leverged for legal entry to the US. We have partnerships with immigration attorneys who can help evaluate your application, adjustment of status,etc.  The costs of the immigration status are your responsibility.

Q:What if someone steals my idea?
A: We’re interested in helping build businesses and not stealing ideas. Our review committee is a small group that will treat your application confidentially and professionally.  That said, no NDA requests will be honored and applications with insufficient detail about the proposed product/company will very likely not make a cut.

Q:How much managerial or investor control will your exercise on my company?
A: We see ourselves as a co-founding mentor.  We won’t ask for a board seat or manager rights. It is your company and you will manage the hiring, firing, contracts, etc.  That said, please review our investor document for complete details.

Q: Tell me the details of the funding arrangement
A: The accelerator will seed your company with $20,000 upon acceptance into the program and arrival in Des Moines. This will signify a transfer of 6% of your company’s equity to the Accelerator and memorialized through your and our signatures on the term sheet. Once the program ends, an optional convertible note in the amount of $100,000 will be available to your company with a 20% discount and no cap.

Q: What infrastructure support will you provide in terms of Office space, internet, legal, hosting, etc?
A: We provide working and meeting spaces, as well as a nice lounge all with 500Mbps Internet access. The office space will consist of individual or shared desks, conference rooms, entertainment, and a stocked kitchen. We want you to focus on your company while you’re here.

via globalinsuranceaccelerator.com