Accelerator Program FAQ
What is an accelerator program?
An accelerator program is a structured program designed to help early-stage startups or entrepreneurs grow their businesses rapidly. It provides mentorship, funding, resources, and networking opportunities to support startup growth including youth empowerment commitments.
Am I eligible to participate?
Yes! Anyone from a startup, NGO, academic institution or government agency stationed anywhere in the world is eligible to submit ideas and apply for the youth empowerment accellarator funding.
Do I need to have a team?
Yes, your project should have a dedicated team that will manage its overall execution. Suppose your application to the TYC accelerator Programme is successful. In that case, you will also be assigned a part-time project manager from the Accelerator to assist with the management and implementation of the project.
What do I need to apply?
Your startup, NGO or institution must be incorporated or recognized as a legal entity and operating as a non-profit or for profit at the time of application.
What are the selection criteria?
- Solutions that are transformative, novel or innovative.
- Solutions that can have a substantial impact on hunger and are scalable, particularly in low- and middle-income countries and settings.
- Solutions that can prove initial traction and are at the Minimum Viable Product (MVP) stage.
- Solutions with a financially sustainable business model and growth strategy.
- Solutions which are carried by a solid and diverse team with the relevant expertise and strengths to scale the solution.
What will we not fund?
- Proposals not presenting apparent innovation; innovative ideas that repeat conventional approaches without novel application.
- Proposals that are purely focused on food production. Traditional farms, even if they can have a substantial impact on the local systems, do not fit within the TYC Innovation Accelerator operating model.
- Proposals for which proof of concept cannot be demonstrated, even at a small scale (from an operational perspective)
- Proposals for which impact is not quantified and proved.
- Proposals that do not clearly consider the current context of available financial systems and infrastructure in relevant geographies.
Will my idea be published?
No, all applications are confidential. Applicants will be contacted before any submitted information is shared externally.
How do I submit my application?
To submit your application, visit our Application Page and fill out the Application Form. Please be sure to check your eligibility and that you have answered all required questions to the best of your ability. You will not be able to go back and edit it once the application has been submitted. Answering these questions will take you around 30 minutes – 1 hour.
What are the benefits of joining an accelerator program?
Joining an accelerator program can offer several benefits, including access to experienced mentors, potential funding opportunities, specialized resources and tools, validation of your business model, exposure to a network of investors and industry experts, and a supportive community of fellow entrepreneurs.
What is the closing date?
The TYC Innovation accellarator program is accepting applications between now and 31 December 2023 11:59 pm (CET).