What happens at the Next Commerce Accelerator (NCA)?
How long is the program?
What happens afterwards?
Although our offer is a 160 days startup booster program, of course we care as much for our alumnis and keep on supporting them.
How can we get funding for our startup?
Apply online for our next funding cycle - right now we are looking for startups for batch #4 (Application deadline is the 20th of January). But we fund startups twice a year.
When will the application form for the next cycle be online?
The form is always online. But we have an official application phase - right now we are looking for startups for Batch #4. The deadline for this batch is the 20th of January 2019.
What is the timing for the next cycle?
Right now we are looking for startups for batch #4. The application deadline is the 20th of January. We will review the applications and get into interviews with high potential applicants during February. On the 19th of March we will officially start the program with batch #4.
How much do you invest?
We have three standard cases:
1.) We’ll offer our 160 days booster program (including workshops, mentoring, office space and access to our premier league network) for 3% equity
2.) we'll invest €25k in return for 5% of the company's equity
While we may deviate from this in exceptional cases, it will still be the cases for almost all of the companies we fund.
3.) we'll invest €50k in return for 10% of the company's equity.
Who can apply?
Everyone who calls himself a passionate founder.
What kind of startup are you looking for?
We have interest in early stage commerce related startups whose product has to do with innovative services, e-commerce business models, technologies and advertising that are centered around the commerce industry. They also need to have a technological background and be ready to scale.
Do we need to write a business plan?
Not for us. While a business plan can be helpful for some, we make our funding decisions based on our application form and personal interviews. We love demos and profound pitch decks, but we never read business plans.
Will you sign an NDA?
Do I need to move my whole team to Hamburg?
No you don’t - although we highly recommend you to do so, or at least spend a lot of time in our office. One of the main benefits of the program is our community and our network. Many come spontaneously to pay us a visit and you don’t want to miss that.
Can I apply as a sole person?
You can apply, but it is unlikely that we will accept you. We believe creating a successful startup is about teamwork. But we also believe in some serendipity from time to time.
I have already run my company for quite some time, can I still apply?
Yes, you can.
What’s the best stage to apply?
You need to have more than only an idea. A prototype and some customers would be great. You can also apply at a later stage if our program brings you a strategic advantage but we never invest more than 50k.
Who are the investors?
Based on a multicoporate/single industry system, our investors are leading German and European trade, technology, service providers and e-commerce companies who are creating digital change in the industry. Also - we give you the opportunity to make the investors your first customers. Check them out
Why are you located in Hamburg?
We fairly believe in the importance of an ecosystem to startups. As a startup you need easy access to the industry – you can only get this in Hamburg. Hamburg is Germany’s e-commerce and logistics capital.
Can I participate in your program after participating in another accelerator or incubator program?
Yes sure. We believe in people who want to work on their projects and try out new approaches. But we also believe we can figure out the real potential and support you in a way, you would rather go into a seed round, then in another accelerator program after you spend the 160 days with us ;)
Are you providing a place to stay in Hamburg?
We know it is not easy to find a flat or a room in Hamburg, especially short-notice. We are partnering with hostel groups in Hamburg to be able to get you affordable accommodation at least until you settle down and are prepared to look for something else.
Can I spend the investment on anything?
We don’t tell you what to do with the money. You should invest the money in things that help your product to get traction.
Do you decide who will invest next?
No, but we will help you find an investor.