SigmaLabs FAQ
Frequently Asked Questions
Application
What startups are you looking for?
We are looking for early stage pre-seed companies, with at least 2 team members, where one of the founders has the requisite technical capabilities.
What is your application process like?
- Each startup fills out an application form. SigmaLabs will analyze each form and conduct telephonic interviews.
- SigmaLabs will select up to 20 startups to participate in face to face interviews.
- SigmaLabs will then select a small subset of finalists that may need further vetting and interviews, culminating in a decision to accept up to 8 companies.
Is my startup in the right stage for your program?
Are you at Pre-seed or seed stage? Do you have at least 2 team members? If one of them tech savvy? Are you prepared to work extremely hard in the next 4 months? Can you commit to being at the accelerator every working day? If you answer “Yes” to all of the above – your startup is probably in the right stage for us.
Can I apply as a single founder?
Only in exceptional circumstances will SigmaLabs accept a single founder.
How many startups are accepted?
Up to eight companies per wave.
My team outsourced the software development, are we eligible to apply?
Yes, as long as one of the founders has serious technical capabilities and is managing the outsourced work.
Is the application kept confidential?
Yes, only our judges and partners will view your application.
Acceleration period
What does a regular day look like?
There is no “regular day” at SigmaLabs! 2-3 times a week there will be an activity in which all teams are obliged to participate in. This activity can be a workshop / a lecture / a dinner, or a hackathon. During the rest of the week, startups will be working hard on their products and business. Give back is an important element, so each startup is expected to contribute to its fellow startup that is in the same wave.
Does the whole team need to be on site for the acceleration period?
The founders must be on site and committed – that means at the office every day. If the startup has a number of additional employees only the key team/founders will need to be present at the facility.
What does SigmaLabs provide?
SigmaLabs will provide you with rocket fuel for your business – literally. Some of the benefits include:
- Legal and financial Guidance, documents and office hours.
- Software, services, ad-credits.
- 1on1 workshops with the best of the best in all fields relevant to your business.
- A personal mentor that is a founder in a related business segment, so the advice is relevant.
- Meetings with top-tier seed investors from Israel, Europe, and the USA.
- International and local speakers on relevant topics.
- Comfortable working space.
Funding
Does SigmaLabs take equity in my company?
SigmaLabs model is designed to serve companies all the way through their product market fit and the next round of fundraising:
1. A program fee is covered by the company by granting 2% Warrants exercisable into shares of the company according to the recent company valuation.
2. The right to invest up to $400K in your next round of funding at a 20% discount to the terms set by your lead investor. For example, if you go on to raise a $2.5M Seed Round at a $6M pre-money valuation, SigmaLabs funds would have the right to take up to 16% of that round ($400K) at a $4.8M pre-money valuation (20% discount).
Other than that, there are no additional costs to participate in the program. However, if not based in Israel, companies must cover their own travel costs for joining the program days, key workshops and the DemoDay.
Do you assist the startups with funding?
Besides the opportunities to meet with top-tier investors during the program, SigmaLabs will host a Demo Day in which your startup will get the chance to present in front of great investors and hopefully get funded.
Do you cover my costs during the acceleration period?
SigmaLabs finances the accelerator program including office space and incidentals. SigmaLabs does not cover personal expenses, salaries etc.
Miscellaneous
Do you sign a NDA (Non-disclosure agreement)?
No, as we are exposed to a vast amount of ideas and ventures during the year it will be impossible for us to do so.
What makes your accelerator different?
We are very focused (just like a startup) on our goals. We want our companies to:
- Build a great product
- Create a successful company
- Raise funds to enable the above
And we will stop at nothing, to help our companies achieve this.
We focus primarily on pre-seed opportunities. We partner with the best of the best, to bring you great resources, access, best practice and relevant data.
When will I hear back about my application?
We will respond within 30 days after the application closes.
“SL team and the top-notch mentors helped our company in every way possible, from shaping the company’s story to finding investors and first design partners. It was truly an amazing experience which I highly recommend!”