1. When is the application open?
- There is no deadline as such, we accept applications throughout the year.
2. What is the duration of the Catapult program?
- The duration of the program is six months.
3. Who should apply?
- Startups with product or a proof of concept combined with user acceptance and plan for user growth should apply.
4. Which sectors do you focus on?
- Our primary focus areas are; Telecom solutions, Mobile utilities, Advertisement technologies and Mobile gaming.
- Startups in emerging tech areas such as; IOT, Video, AI, AR, VR, Virtual support agent should also apply.
5. What are the applications requirements?
- First and foremost is the team, startup team should be self-sufficient as in it should be able to continue building the product.
- Startup should have a product that targets Millennials, expandable to the global audience, history of user traction and plan for user growth.
6. Does everybody from my team need to join the program?
- We encourage a team of least two co-founders and members sufficient enough to continue developing the product.
7. Can I apply if I’m not from India?
- Yes, you can apply for the program from anywhere in the world, as long as you can work with our program team in India.
8. What resources and opportunities will be provided during the acceleration program?
- During the program, the startup will get all required support such as technical infrastructure, digital marketing, mentoring from our leadership team, business planning and monetization, branding and PR, Killer co-working space and financial support.
9. Does it cost any money to participate in the program?
- No, it is free of charge for all startups.
10. What kind of financial support will be provided?
- We pay startup team monthly salaries for a period of six months and offer upfront financial cover on a case to case basis.
11. Does Catapult Program take equity in startups?
- No, we don’t take any equity but instead we acquire the product.
12. Do we get any financial reward for acquisition?
- Yes we do consider providing upfront financial cover to acquire products on case to case basis.
13. What happens after the completion of the program?
- Depending on how well a startup can grow during the program, one of the following could happen;
- If product doesn’t achieve desired growth: We decide not to pursue any further.
- In the event of product becoming successful after 6 months and it can continue to grow without the need of external capital funding: We may enter into a full time employment agreement with the startup on the fresh terms and conditions including a new compensation structure.
- In the event of product becoming successful and require external funding: A new company shall be incorporated with the ownership stake for U2opia, external investor/sand the startup. The equity distribution shall be decided at the time of fund raising with mutual consent.
14. Will the information in my application be treated as confidential?
- We only share information about your application with the relevant member of our team.