With so much hype around start-ups and entrepreneurship, the young and enthusiastic students and graduates are turning towards starting their own businesses. While the opportunity to grow is great, the risks involved are significant too.
One such issue is the capital, but worry not – 10XC has set out on a mission to help bolster start-ups with amazing funding opportunities.
What is 10XC Start-up Accelerator?
The Start-up Accelerator is an initiative of 10XC for tech start-ups and companies based in Pakistan. If you’re a start-up, whether it is in concept, beta, or validation stage, or an already incorporated company, you can apply for the Start-up Accelerator program
With the promise to invest more provided the start-up grows, 10XC provides a funding of Rs. 10 lacs for four months for 20% equity.
From advice to shared services, 10XC will take care of every aspect of the start-ups to help it grow.
Who can Apply?
The application is open for all technology-related start-ups and companies offering hardware/software-related solutions, from all over Pakistan.
Note that software houses are not eligible to apply for this program.
Eligibility Criteria
- The start-up or company must be incorporated in Pakistan
- There must be a minimum of 2 founders – CTO and CEO
- Must be a tech company/start-up with hardware/software solutions
- Ideal founder ages must be 18 – 35
Evaluation/Selection Criteria
According to 10XC, following factors are considered for choosing a start-up/company for funding.
- Team – Can they get the job done?
- Market – How much of your market can you realistically capture?
- Timing – Are people ready to pay for your product/service?
- Traction
- Revenue – Is the company making money?
- Users/Market Share
- Intellectual Property – How hard will it be for a competitor to copy their technology?
Deadline & Registration
The deadline for 3rd cohort is August 07, 2017. Registration is an easy process and 10XC asks the following questions while registering.
- Name
- Phone Number
- LinkedIn Profile
- City of Incorporation
- Start-up Name
- Start-up Stage
- About Start-up
- Customers and Market Size
- How will you make money?
- Have you launched your product?
- Is there a CTO and a CEO on the team?
wow startups must be desperate for cash to go for this. so sad.
>Ideal founder ages must be 18 – 35
This is just silly. What have their ages got to do with anything? There are kids that come up with apps and websites and older individuals have experience working in industry that they can deploy in their own business.
20% equity against a mere 1 million rupee :(