Frequently asked questions

Companies being elevated receive coachings and workshops spread across 5 bootcamps, executional hands-on working hours totaling 250 hours, a cash investment of €5.000,00 and benefits by our partners like aws activate, Stripe, IBM Cloud, Google Cloud, Digital Ocean, Hubspot, etc. Another perk is access to and usage of the Botbase, our own chatbot framework, as well as a recommender engine framework. Additionally, teams get office space at weXelerate, the biggest innovation hub in CEE.

Though they receive a cash investment of € 5.000,00 most of the service will be delivered in hands-on working hours by experts and thought leaders of the industry.

The accelerated companies do receive a wide-ranging package of perks and partnership benefits such as:

  • 250 hours of internal & external coaching in the fields of:
    • Business Modelling & Product development
    • Coding
    • Marketing/growth hacking
    • Legal advice
    • Funding advice
  • €5,000 for travel expenses, first purchases, formation of company etc.
  • Possibility to use office space @weXelerate, CEE’s biggest startup hub
  • Access to & usage of the Botbase, our bot framework
  • Support by University research teams
  • Contacts to investors in relevant field
  • Support in building your pitch deck, coaching and pitch training
  • Contacts to corporates in your relevant field
  • Perks and resources from partners like Google Cloud, aws activate, Stripe, etc.

ELEVATE has a strong focus on developing an early-stage-prototype to product-market-fit and there are a few requirements:

  • you have at least a first prototype.
  • you don’t have to be an incorporated company yet (during the time of the program the formation of a company is necessary, support will be provided).
  • it is mandatory that at least one of the founders attends the bootcamps in Vienna or remote, depending on the situation.
  • you can also apply if you are an already established startup that wants to validate a new product or market.
  • your team consists of at least of one software engineer and one marketing-oriented team member, both of which are operatively involved in the business. Ideally, you have a third person on the team that focuses on business development.

To participate in ELEVATE, your team has to consist of at least of one software engineer and one marketing-oriented team member, both of which are operatively involved in the business. Ideally, you have a third person on the team that focuses on business development.

If you are a single founder, you can still apply, however, further participation conditions will be discussed.

For us it is important that we form a close and long-term partnership with each startup. Once we invest, we are happy to provide ongoing support at every angle of the business developing by connecting with the right contacts or working alongside one another. The ELEVATE program provides the best possible start and will improve the odds on building a successful and sustainable business.

We see ourselves as Co-Founders in the process of developing your product. We approach every startup individually in terms of equity – we only negotiate on the equity after a thorough valuation. So, depending on the status of each startup, we calculate the amount in relation to our investment in resources. The usual equity agreement is between 2% and 8%.

You are steering the rocket! We see ourselves as Co-Founders of your company. No special voting rights, no board seats – a real partnership with no strings attached.

Given the circumstances we are planning on delivering a hybrid program. This means that most sessions and bootcamp will be held online. As soon as it is possible to do an onsite event, we are ready to deliver one or two bootcamps on Vienna. If feasible for you, we would like you to join these. Though we demand 5 touch-points throughout the program in form of bootcamps in Vienna to check up on your progress, provide you with new hands-on inputs and bring you together with some of the brightest minds in the industry – leverage this!

If you are located in Vienna, you are invited to stop by as often as possible since inputs and discussions with like-minded people will help you evaluating your current situation with a different perspective.

You don’t, but we highly encourage you to work in the ELEVATE office since the value of working together with other founders facing the same challenges as you do is priceless.

*depending on COVID circumstances and travel restrictions

No, your company, your decisions ☺However, we do have an excellent public funding ecosystem for early stage startups which might be of interest to you

Sure, everyone is welcome! Please make sure that you can come to Austria based on a legal foundation.
So far we’ve had very international teams, from India, China, New Zealand, Brazil, the US and all over Europe join the program.

Naturally we treat your intellectual property during the application process confidentially. We will not sign an NDA since we do not ask for anything highly confidential during the application process, thanks for understanding.

Applications for batch #6 Wednesday, 09.12.2020 and close Monday, 21.12.2020.

March 1st 2021 at 09:00

*Dates and Timings are subject to change

We will let you know as soon as we received your application and will keep you in the loop during the application process!

We think the best way to accelerate early-stage-startups is hands-on support to develop an amazing product that works for its users. We don’t just tell you what to do in order to succeed – we get our hands dirty with you!

Check out our mentor & coaches, a team of thought leaders of the industry, here.

At the end of our 4 month program we will have an Investor Demo Day with investors and potential clients checking your technology and listening up to your story.

No worries: we will coach you during ELEVATE to deliver the best possible performance on stage and with the shown content. We will do everything we can to help you succeed.

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