How does Brinc evaluate startups for the accelerator?
We back founders first, companies second. While Brinc evaluates each founder and team on a case-by-case basis, there are some characteristics that are favorable:
- 2 cofounders. The right balance between background, flexibility, and effectiveness.
- Teachable and open minded. You will learn a lot in a short period of time, it helps to be curious.
- Pre-crowdfunding or pre-digital launch. Once you have crowdfunded, you have locked-in features, price and timeline.
- A functional prototype. This shows you have put some action and thought into your solution.
- Grit and determination. There’s a challenging road ahead. The right attitude goes a long way.
- 6+ months runway. This allows us to focus on building the business, not just fundraising, during the program.
What is the difference between month 1 (ramp up) and months 2-4 (full acceleration) of the program?
We want to make sure the fit is right for both you and us. The first month is designed with this in mind.
During the first month we will run through materials and tools aimed to set you up with a pre-launch financial model, perform valuable market research and product logic. We'll have weekly office hours and Brinc All-Hands. If for any reason either you or Brinc decide not move forward together within this first month, no problem. No questions asked (though we'd love the feedback) and no equity taken.
After the first month, up to four teams will be selected based on progress to move forward with Brinc accelerator for another 3 months and the full Brinc offer - our tools, education, perks, and so on - will be available.
Why does Brinc hold equity positions in teams participating in the accelerator?
Equity allows us to be aligned for the long haul. This means we're motivated for you to succeed well beyond the 4-month sprint and will work hard for us to both win.
What are the legal terms?
We use an option agreement for 3% fully diluted at the time of signing. We set the share strike price based on your last external valuation and have the shares allocated, but not issued, when you join Brinc. This means we will be diluted with other shareholders upon future fundraising. We ask for basic rights including information rights.
Can I work with Brinc Studio and Brinc Accelerator at the same time?
Yes! As a Brinc Accelerator team, you will receive discounted rates from Brinc Studio. You will need to meet the basic requirements for Studio though - we don't want to waste your time if you're not ready to work with the Studio team yet.
What is the application process?
We have multiple application intakes each year. First, you apply online via AngelList or F6S before the given deadline. After applications close, we get reviewing. Our review team includes technical and business-oriented team members. If the application looks like a good fit, we will then arrange for a phone call with our senior team members to learn more. If all signs point to go, we'll send across the option agreement for signature and look forward to the Ramp Up! The whole process will take less than four weeks from the close of applications.
We can’t take everything on. We only take on the companies we really believe we can create value for.
When can I apply to Brinc?
Multiple times a year! Stay tuned with our newsletter for updates on the next application cycle.
Can I work in Hong Kong or Guangzhou for any part of the Sprint?
Yes - in fact, we love having founders work from our spaces in Hong Kong or Guangzhou. It's incredible how fast we can move when we're physically together.
It's not required though - we encourage you to be where it makes business sense for you to be. That might mean staying in market or city hopping.
Am I required to be in HK for any part of the program?
Nope. We work digitally and across timezones. Thank you, technology!
How much funding should I have before joining Brinc?
Teams applying to Brinc should ideally have at least 6 months of runway from the start of the program. This enables us to focus together on building a great product and business, not just prepping for pitching (we do that too, though).
What is expected of me during the program?
We expect founders to be full-time on their project and make the most of the Brinc resources, including our time. This means taking advantage of the office hours, being prepared and bringing your all. We'll meet you half way.
What can I expect after the Sprint?
After we've completed the 4-months sprint, you'll still be a part of the Brinc family. This means the Brinc founder network, vendors, perks, quarterly Brinc-All hands and space when you're in town are available to you. This is why we take equity - so we can be with you through scale.
How does the mentor network work?
Our mentor program is not like most other accelerator programs. It's tight-knit, deeply specialised and available for discrete and specific instances. We think this is a good thing. It means you get highly tailored advice from the best people we know in the industry, precisely when it's relevant.