Registration and Participation:
-
Registration Form: After reviewing and agreeing to the terms, you will automatically be redirected to the registration form.
-
Idea Requirement: Participants must have an innovative/technological startup idea focused on the U.S. market.
-
Registration Deadline: Registration is open until September 15.
-
Program Objective: Development of startups oriented toward the U.S.
-
market through investment and acceleration, in exchange for equity.
-
Applicant: An adult individual or a group of individuals.
-
System: Registration and application submissions are processed through the Dealum.com platform.
Program Stages and Timeline:
Stage I (Pre-Acceleration):
-
After September 15, 25 teams will be selected for a 1-month pre-acceleration beginning in September.
-
Ideas will be tested in the U.S. market with the involvement of specialists from UC Berkeley and Silicon Valley.
Stage II (Acceleration):
-
Following pre-acceleration, 20 teams will advance to a 2-month acceleration stage (October-November).
-
Participants will receive GEL 10,000 for initial prototype development.
-
Demo Day:
-
After the acceleration stage concludes, teams will present their prototypes during a Demo Day in December.
Final Stage (Silicon Valley):
-
The top 5 teams from each batch will receive funding for a 1-week visit to Silicon Valley, meeting with VC funds and partners.
Funding and Equity:
Pre-Acceleration and Acceleration:
-
Total investment value is $24,000 (cash and in-kind).
-
In exchange for 6% equity, startups receive GEL 10,000 in cash investment, an acceleration program involving specialists and mentors from UC Berkeley and Silicon Valley, and other services aimed at U.S. market development.
Only Pre-Acceleration Completion:
-
Teams not advancing to the acceleration stage will concede 4% equity, gaining access to online lectures, mentoring sessions, and partner venture funds without monetary investment.
Participant Obligations:
Active Engagement: Participants must attend at least 70% of scheduled meetings. More than 3 absences during the first stage disqualify startups from advancing to the second stage and receiving funding. Excessive absences in the second stage will require the return of the investment.
Legal Entity: Upon advancing to the acceleration stage, the team must establish an LLC or joint-stock company in Georgia. For subsequent investments, a U.S.-based C-Corp is required.
Agreement: At the acceleration stage, participants must sign a preliminary equity purchase agreement with Future Laboratory Ventures.
Program Termination Penalty: If a participant receives GEL 10,000 during the acceleration stage and subsequently refuses to participate in Demo Day, they must reimburse the full investment amount of $24,000.
Project Continuation Obligation: Teams must continue working on the project for at least 3 months after program completion. Failure to comply grants the company the right to reclaim the total investment.
Silicon Valley Trip: Selected teams are required to participate in the investment tour in Silicon Valley.
