SPACE-F Incubator Program Batch II
Please note; this is the application form for the Incubator program. If you are interested in the accelerator program, please apply here: www.f6s.com/spacef2020/apply
SPACE-F Incubator Program FAQs
Who are the founders SPACE-F?
- SPACE-F was founded by the National Innovation Agency (www.nia.or.th/), Thai Union (www.thaiunion.com/en) and Mahidol University (mahidol.ac.th/). Batch II will be delivered together with leading corporate partners.
What types of startup is SPACE-F focusing on?
- For the incubator program we are looking for innovative teams with at least one Thai co-founder, dedicated to building their business in Thailand.
What stage of startup is SPACE-F suited for?
- Teams that have completed their idea feasibility and initial market validation stages, and are now looking to build their MVP and start building their company.
How does the application process work?
- Interested startups can apply online through the FS6 application page. It includes a few simple questions about your company and your team. You’ll have the opportunity to include a video and pitch deck that describes your business.
How detailed do I need to be in the application?
- In this initial application process, we ask applicants to describe the market opportunity, the team, an overview of your business and an execution plan. The more information you provide in your application, the easier it is for us to assess the full potential of your business.
Do I need to send in a business plan?
- No, just complete the online application. Please note that we will ask for a pitch deck as part of the application. As we understand not every early startup has a full pitchdeck ready, just send us whatever you think makes the best case for you: Videos, presentations, whichever works best!
How are the final companies chosen? What is the criteria?
- All companies who apply will be considered by a joint committee consisting of NIA/Thai Union/Mahidol University/corporate partners. The best candidates will progress to a pitch day, where founders will pitch in-person (if possible with the global situation) or virtually to a panel of judges. From this, up to 10 finalists will be selected to join the program.
What if my company is not an expert at developing novel food tech solutions?
- We’re not looking for experts, just creative startups with a vision and inspiring ideas. You’ll get access to experts in the field, as well access to the SPACE-F space. All we ask is that you’re determined and
capable of building your own solution, have the drive to make it happen, and are focused on the potential of your startup.
Is there an equity stake component for participation in the program?
- No equity will be taken in exchange for participation in the program.
How are my expenses funded for the program?
- Each startup will receive a grant of 150-250k Baht to participate in the program and cover expenses. (depending on the online/offline nature of the program as a result of COVID-19) to participate in the program and cover expenses.
How can participants receive funding after the SPACE-F program ends?
- Throughout the program, there will be engagement points with corporate and venture capital investors. In addition, you’ll have the opportunity to showcase your products and services at Demo Day, where a range of potential investors, which may include venture capitalists and influential industry leaders, will see your proposition and listen to your pitch. Depending on the global situation, these events might take place online or in person.
Where will I be working?
- Depending on the current COVID-19 situation, the program might be taken (partly) online. For those living in and/or able to travel to Bangkok, you will be working in the heart of the city at the SPACE-F location. Find more information about the space here: www.space-f.co/workspace
Do companies have to be on-site (if the situation allows) for the entire program period?
- We recommend that you’re on-site as much as possible during the program. The more immersed you are, the more you’ll gain. In case of a virtual program, we also expect regular attendance and engagement with virtual sessions.
Can I apply if our company or founders are not from Asia? Can you help with visa/immigration issues?
- For the incubator program, you're team needs to consist of at least 1 Thai (resident) co-founder. Please contact us if any of your team are not based in Thailand, or does not have the legal right to work in Thailand - NIA/Nest might be able to help obtain startup ('SMART') visas for accepted applicants. You can find more information about the visa and the process here: www.boi.go.th/index.php
Is there a Demo Day and who will be invited?
- We will arrange for a final Demo Day at the end of the programme. This will be an invitation-only Demo Day for you to pitch to a wider audience for external partnerships and funding.
What role are NIA/Thai Union/Mahidol University/Corporate partners going to play in SPACE-F?
- All parties are committed to empowering and supporting local and international entrepreneurs. During the program, you will receive mentorship from carefully selected leaders from within a range of business units to help you develop your solution, grow your business and open doors to strategic partners, investors and future customers.
Will all the mentors come from NIA/Thai Union/the corporate partners themselves?
- No. The startups will have access to mentors from the program partners, supplemented by a wide network of experts and business leaders across Asia.
What will a typical day be like for a program participant?
- We’re pleased to say there’s no such thing as a typical day.
Throughout the program, you can expect to be guided by NIA/Thai Union/ the corporate partners, as well as receiving access to venture capitalists, CEOs, innovators and industry visionaries.
What guarantees can NIA/Thai Union/the corporate partners make to companies that get into the program?
- NIA/Thai Union/the corporate partners will support companies that are accepted by providing mentors, visibility and engagement around business opportunities that emerge from this program.
1. The program provides no guarantee regarding funding post program.
2. The program provides no guarantee of a Thai working ('SMART') visa, although we will provide you with all the support to obtain one. Eligibility for the visa will be determined by the Thai government agency reviewing your application.
3. The program provides no guarantee that you will be able to provide the program in person (as opposed to digital); this depends on the global COVID-19 situation and the particular situation in both Thailand and your home country.
Is a participating company’s product or service guaranteed to be endorsed by the corporate partners?
- No, there are no guarantees. It’s entirely at the corporate partners discretion as to whether a participating company’s product or service is taken on and endorsed by any company.
What is Nest?
- Nest is a global venture capital firm and innovation partner that supports collaboration between the world’s established corporate and early-stage companies.
Nest has strategically built a network spanning both developed and frontier markets to maximise the opportunities for startups to scale and connect with the global ecosystem.
How to get in contact?
- If you have questions about the program, application, please do not hesitate to contact the Nest team at email@example.com