Resources

Application Tips

Thinking of applying for our Seed Investment Program? Be sure to read the below before throwing your hat in the ring.

Do your Homework

Right off the bat you’ll need to know about our eligibility criteria:
  • Market readiness
  • Innovation
  • Capital lean/efficient
  • Minimum 2 full-time people

Knowing all this shows you’ve done your homework and aren’t taking a stab in the dark. Sometimes that happens when founders apply for every program possible. We’re fine with that, but please make sure you know what we're looking for.

Get to the Point

When reviewing applications, the first thing we look at is the problem.
  • How are you solving the problem?
  • Have we seen this idea before?
  • Do you have a unique perspective through experience or insight?
Then it’s the solution.
  • Are you solving a real problem?
  • How well do you understand the problem?
  • Minimum 2 full-time people
Finally, we look at your team.
  • Who is working on this problem with you?
  • Minimum 2 full-time people

We do loads of research, but with the number of applicants we get, we don’t have a lot of time to go deep until the interview stage. This makes it super important for you to clearly communicate what you’re doing, why you're doing it and who you’re doing it with, early on.

Your Product Demo

Lights, camera...

You’ll need to share a 3-minute video showing off your product. This helps us understand it from the point of view of the customer, as well as everything involved in the background.  Don’t worry. We get you’re a founder and not a film director so here are some details to clear some things up:

  • A 3-minute video is ideal and 5 minutes is the maximum – simple is good.
  • Don’t stress about production quality. As long as we can hear you and have a clear view of your product, it’s fine.
  • For software products, we encourage you to use screen capture with a voice-over.
  • For hardware products, make sure your product is visible and your voice is clear.
  • No fancy editing or effects are necessary.
  • Upload your video to YouTube. If you don’t want other people to find it, mark it as unlisted. Don’t mark it as private or disallow embedding - then we can’t see your brilliant idea.

Nailing the Interview

Preparation is key

If you’ve made it through to the interview stage, it means we want to find out more about you, so you’re already going well. To ease your nerves, here are our top tips:

  • Be confident in yourself, in your team, and your business.
  • Expect the easy questions  –  What’s your market size? How big is this going to be? What’s your cost of acquisition? If you can’t answer one because you’re too early,  share insights you’ve discovered from your customers or product validation efforts.
  • Anticipate and tackle problems head on  –  you probably know why people might not invest in your business . Addressing this early shows us you have self-awareness and aren’t taking a backseat.
  • Actively listen  – it’s easy to get distracted but if you don’t answer the questions we’re asking, we can’t properly evaluate your business.
  • Be open  – No one has all the answers and if you don’t have a response for something, just be honest. That way, we can work out where you need help.
  • You don’t need to be a leading expert, but talking about the future of your business and market forces is a great sign.

Learn from Others

Put your best foot forward

The person reading your application has a fair few to review. That means you need to get it right to stand out. To help out, here are some other common issues we’ve seen from applications over the years:

  • No website or the website is severely neglected.
  • Not market ready.
  • Founders have limited hours dedicated to the business.
  • Inability to distinguish solution from competitors solving the same problem.
  • Development is outsourced and not led by the founders.
  • Being solo. That’s fine for now, but you need at least one other person on board during the program to share the load.

If you take the time to research the program, our team and previous investments, you should be fine. Coming prepared with questions also shows you’re taking things seriously.

Whether or not you get accepted into the program, you’ll be putting your best foot forward and making yourself known to us (for future programs). We will always encourage you to book a time to talk over why you weren’t selected and how you can polish up a few things for next time.

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