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Bridgeway Accelerator Program 42 Rules and Standards of Participation

You must agree to the Bridgeway Company Registration and Rules and Standards of Participation to be accepted to attend Bridgeway Accelerator Program 42.

General

Bridgeway Accelerator is an acceleration/investment program for early-stage startups. Bridgeway Accelerator Programs take place in San Diego, New York and Belgrade. Our goal is to take companies from the concept to a capital access position in a 3+3-month program.

 

 

Registration 


Founders that want to attend Bridgeway Accelerator Program 42 are accepted on a rolling basis for dates that are posted online. You agree that you are registering on behalf of the organization listed in the “Organization Name” field, and that you have the authority to do so. Bridgeway Company is not responsible for lost or late registrations, or for electronic transmission errors, regardless of cause. Accepted registrants will be notified by email at the email address that was used to submit the registration. You agree that Bridgeway Company may contact you by phone or other methods of communication concerning your application. All registration and attendee information you provide for attendance at the Program 42 will be treated in accordance with our Privacy Policy, which can be found at: bridgeway.company/terms-of-use-and-privacy-policy .

All decisions made by Bridgeway Company are final and review results are confidential. Attendees will be selected based on the review criteria set forth above in Bridgeway Company’s sole discretion.

Reasons for Disqualification

Your registration may not be considered for Bridgeway Accelerator Program 42 if it does not follow all eligibility and submission requirements. In addition, Bridgeway Company reserves the right to disqualify your current and/or future registration, or withhold or revoke your attendance offer to Bridgeway Accelerator Program 42 and/or other Bridgeway Company programs or events at any time if:

  • Any part of your submission is untrue, plagiarized, or fabricated;

  • You engage in or previously engaged in harassment or other harmful behavior directed at Bridgeway Company employees, Bridgeway Company expert or mentor, other applicants, or Bridgeway Accelerator Program 42  attendees;

  • You are accepted to Bridgeway Accelerator Program 42 and do not claim the attendance offer by the deadline, or claim the attendance offer but do not attend Bridgeway Accelerator Program 42, unless otherwise agreed by Bridgeway Company;

  • You, directly or indirectly, commit any act intended to interfere with Bridgeway Accelerator Program 42; or

  • You (or your company) fail to comply with these terms and conditions.

 

Program's structure

Bridgeway Accelerator Program 42 has been conceived as a 2-phase incubation/acceleration program: IDEAS/BUILD and MEASURE/LEARN, in which the selected start-ups/SMEs will be offered a set of technical and/or business services to develop an MVP (Minimum Viable Product) and reach commercial and/or investment agreements with our partners, corporates and/or private investors.


Bridgeway Accelerator Program 42 will use a funnel approach for project selection and the funding is results-driven, depending on specific metrics of success (KPIs and commercial deliverables) described for each phase  and investment committee decision:

▪ IDEAS/BUILD: up to 35 projects will enter this phase. This phase will help the start-ups to clearly define their concept and build towards MVP. The objective is to develop an MVP (Minimum Viable Product) to be introduced into the market. To that aim,  startups/SMEs that are invited to this phase will have access to dedicated coaches and mentors, a technical infrastructure with a set of tools ready to be used, a different set of training modules on technical and personalized business development support. At the end of this phase, startups/SMEs will participate in a virtual pitch contest, after which the projects with a major market potential will be invited to enter the second phase of the incubation.

MEASURE/LEARN up to 10 start-ups/SMEs with a solid MVP and market potential will access the last step. This phase is dedicated to building solid partnerships and detecting real investment opportunities for the top companies in the call. The projects will be encouraged to gain enough traction for the next investment phase in terms of sales, prospects, users, markets and customers. Up to 5 participants will pitch their developed solution and business model in front of partners, selected investors and the press in a Final demo day.


Each project funded will receive up to €80k depending on the stage reached in the incubation process under a lump sum scheme, based on the approval of different milestones or KPIs and along with the funnel approach and investment committee decision.

Funding Principle


The accelerator will be based on a 2-phase process IDEAS/BUILD > MEASURE/LEARN. Each phase comprises a set of activities that qualify for financial support. All the funds disbursed will be based on concrete results and not administrative justifications.

▪ OPEN CALL: This is the submission of proposals. No funding attached. 

Timeline: Deadline for submissions is 13 August at 12:00 (noon) CEST. The evaluation process will last from August 14tht to  August 30th, 2019. The evaluation will be based only on the materials provided in the application process. Materials will be evaluated by 4 groups of evaluators:  Bridgeway Accelerator operational team, external technical team, external business team and investment committee.


Projects and teams will be evaluated on the scoring base and the project/team with the highest score will be asked to join the program.


▪ IDEAS/BUILD: No funding attached. The selected participants are required to develop an MVP. 

 

Timeline: The first week of September is the beginning of startup onboarding. Bridgeway Accelerator Program 42 Ideas/Build is a 3-month long program, from September till the end of November.

 

Location: Companies will be working remotely with dedicated Program managers, Bridgeway Accelerator team and Bridgeway network of experts, partners and investors.

 

If the opportunity arises for the physical presence of the founders the opportunity will be presented to the founders. Founders can solely decide if they will accept the opportunity or decline with no bearing of staying in the program. At the end of this phase, the Investment Committee will make a decision about startups that will go to the next phase. The number of startups is up to 10.

To stay in the program startups will need to perform individually set monthly goals.

This phase is equity-free.


▪ MEASURE/LEARN: up to €80,000 attached to the accomplishment of the KPIs defined among each SME and its coach at the beginning of this phase using a set of common objective criteria, i.e. those that ensure equal opportunities for funding to all participants.

Timeline: The First week of December startups/SMEs will participate in a pitch contest, after which the projects with a major market potential will be invited to enter the last phase of the incubation.  Bridgeway Accelerator Program 42 Measure/Learn is a 3-month long program, from December till the end of February. 

 

Location: Companies will be working remotely with dedicated Program managers, Bridgeway Accelerator team and Bridgeway network of experts, partners and investors.

 

If the opportunity arises for the physical presence of the founders the opportunity will be presented to the founders. Founders can solely decide if they will accept the opportunity or decline with no bearing of staying in the program. The projects will be encouraged to gain enough traction for the next investment phase in terms of sales, prospects, users, markets and customers. Participants will pitch their developed solution and business model in front of partners, selected investors and the press in a Final demo day.

 

At the end of this phase, the Investment Committee will make a decision about startups that will receive the funding. The number of startups is up to 5, and the amount of funding is up to €80,000 per startup.

To stay in the program startups will need to perform individually set monthly goals.

This funding principle is subject to further negotiations, aiming to agree on the final terms to be included in the definitive Investment Agreement. 

These terms do not bind any of the parties to conclude the definitive Investment Agreement binding for all parties. The definitive agreement is conditioned on the completion of the due diligence, legal review and documentation that is satisfactory to the Investor. 

After the Program is over

All startups that fulfill the whole program, become part of The Bridgeway’s portfolio, enjoying a wide range of benefits including access to the Bridgeway Company's network of corporations, investors and experts.

Once the program is finalized, Bridgeway Company holds the right, but not the obligation, to co-invest in the project together with other stakeholders.

Information rights

The startup that enters the Bridgeway Acceleration Program 42 is already registered or will be registered and it will be referred to as Founded Company.

Bridgeway Company shall receive:


o    A monthly report in the form agreed between Bridgeway Company and Founded Company (including monthly financial results, achieving set goals/milestones and possible delays or changes to plans or development activities;
o    Monthly plan of use of proceeds;
o    Consolidated annual financial statements and annual report within two months after the year-end; 
o    Detailed financial and business plan until the end of the current year. 


A representative of Bridgeway Company appointed by the Bridgeway Company will participate in monthly meetings with the Founded Company's key persons. At any point in time, Bridgeway Company reserves the right to require additional information. 

 


Bridgeway Company reserves the right to demand an independent audit of the Founded Company's books. The cost of an audit is borne by the Founded Company. The auditor shall be selected or approved by the Bridgeway Company.


Bridgeway Company reserves the right to appoint an external accounting firm to the Founded Company or if the accounting is handled by the Founded Company, to appoint the accounting team. This right will be valid as long as the Bridgeway Company holds a vested interest in the Company.

Representations and warranties

The definitive Investment Agreement will include standard representations and warranties of the Founded Company, its founders and management that the information given and the documentation submitted in the process of the due diligence are true and complete. Representations and warranties will primarily be given with regard to the Founded Company's good standing, financial statements, management reports and business plan, ownership of the assets, employment agreements, intellectual property, option and reward plans, insurances, guarantees, loans, tax issues and similar. 


In the event there are non-disclosed liabilities or expenses incurred by the Founded Company prior to the Investment, existing owners (Founders) are obliged to settle such expenses or liabilities.

 

Written form

 

All the parties agree that only agreements concluded in writing and signed by all parties to such an agreement shall be binding. 

The Founders hereby confirm that no assurances with respect to the investment or terms of the investment were given by the Bridgeway Company.
 

 

Confidentiality

All parties, including Bridgeway Accelerator 42 Staff, Advisors and Mentors shall maintain strict confidentiality over any proprietary information entrusted to them by founders.

All information and advice generated or received in connection with mentoring activities is presumed to be confidential and should be treated as such.

Founder alone determines whether to make a disclosure of confidential information.