OBJECT AND DEFINITION
Discoveries is an initiative promoted by Fábrica de Startups. It will take place from 2nd to 26th of February 2021.
The main purpose is to promote entrepreneurship in Portugal by supporting the development of new tech startups related to the tourism industry. Discoveries includes a set of bootcamps that consist of working sessions where participants are expected to develop and validate their business idea.
Discoveries will follow the FastStart Methodology, from Fábrica de Startups, an 8 step path built under the evidence-based approach of the Lean Startup and Customer Development concept. Discoveries will be open for up 20 (twenty) teams with projects in idea, prototype or launch stage.
Due to the current global situation, some adjustments might be made.
ELIGIBILITY OF APPLICATIONS
Participation in Discoveries requires the application of a team and the submission of a business idea. Discoveries is looking for ideas mainly in the following fields: productivity, cities, mobility, community, hospitality, entertainment, ecommerce, big data, crowd sourcing, software as a service, market places, augmented reality. However, if the idea is applicable to the Tourism Industry it will bring value to the application. Example: a big data project that could serve the Hotel industry.
The business project must meet a market need in an innovative way and must demonstrate global potential to expand and replicate or scale in larger and growing markets.
The accelerator program will end with an investment pitch session where startups will have a chance to pitch their business to a jury panel and a set of potential investors.
June 2020: Applications Open
22nd December 2020: Applications Closed
5th January 2021: Results Announced
2nd February: Business Model Canvas
5th February: Customer Segment
9th February: Value Proposition
12th February: Channels & Relationship with Clients
16th February: Revenue Streams
19th February: Key Activities, Resources and Partners
23rd February: Cost Structure
26th February: How to Pitch
3rd March: Final Pitch
APPLICATION AND SELECTION PROCESS
Participation is open to all citizens over the age of 18, from any country. No trademarks or legal persons can participate.
There is no limit to the Discoveries number of participants per team but at least 2 (two) people have to participate, and at least one of participant has to be a founder. Individual participations are not allowed. The teams must demonstrate their effort in a whole, as well as their experience, technical and management skills necessary to develop their business.
Applications will be considered by Fábrica de Startups only after submission
of the application form. Fábrica de Startups can request additional information for evaluation of the team and project, in order to make a final decision.
Fábrica de Startups will select the participating teams by taking into account all the information made available through the application form and additional information that may be requested from the teams.
Fábrica de Startups will take into account the quality of the idea, the team’s commitment to the project, evidence of the team’s capacity of execution and prototyping, and its profile in terms of complementary skills and entrepreneurial attitude.
The selected teams will be informed of their application’s approval via email and a public announcement made on the Discoveries website. The evaluation and selection process will happen as applications are submitted. After analysis of a team’s application, the best applicants will be selected for an interview either in-person or via Skype.
PARTICIPATION AND ACCELERATION PROGRAM
The bootcamp phase includes 8 (eight) sessions that will take place in Oeiras, at a place yet to be confirmed. During these sessions teams will define, validate and adapt their business idea.
Participation in Discoveries requires the presence of the team in Oeiras (Portugal) during the Bootcamp and Pitch Phases.
You will be notified by email of your selection, and approval of your team application. Selected teams must confirm their participation on the program until 2 (two) days after being informed of their selection.
Bootcamps: workshops made by Fábrica de Startups’ and guest speakers, about the work to be developed in the subsequent week, following Fábrica de Startups’ methodology: FastStart.
Lessons Learned: presentations made by the teams on their business model validation and adaptation report of the work that has been carried out during the previous week.
Mentorship: mentorship session, where teams are accompanied by experienced mentors that will periodically meet with the team during the four-week period.
Guest Speakers & Specific Training: experts that join the session to give insights on specific topics such as: User Experience, Legal and Finance, Digital Marketing, etc.
Social events: after-hours events and field activities that will make Discoveries an unforgettable experience
Discoveries will have a very intense agenda, so participants must be ready to spend a lot of time working on their project. Besides the bootcamps, teams will have to comply with extensive homework that will help them validate their business model.
The organization will support travelling and accommodation expenses to the selected teams. All expenses have to be fiscally accepted. These are the covered expenses:
- Transportation (public transportation, flights, etc.)
Car expenses and fuel won't be accepted.
All invoices must include Fábrica de Startups' fiscal data: name FABSTART – Fábrica de Startups, SA. and tax number 510 138 110.
Teams will have the chance to present their pitch to an audience of investors
and other guests. Teams will need to prepare a pitch deck for this session, guided by Fábrica de Startups on the last boot camp session. Fábrica de Startups team will help participating teams train.
The project presentation does not guarantee funding. Even though several Business Angels and Venture Capitalists will be invited to attend the investment pitch session, it is not Discoveries responsibility to ensure funding. Startups should directly approach them.
Fábrica de Startups cannot be held responsible for the cancellation, postponing or any change in the contest on any of its phases due to unforeseen causes or in cases of force measure.
EXCLUSIONS AND LIMITATIONS
Fábrica de Startups reserves the right to exclude, cancel or reject any idea submitted, and/or cancel the participation of any of the teams, or team member, at any given time during the Discoveries accelerator.
The program will take place at Palácio Flor da Murta in Oeiras. The palace was built in the 17th century and has recently became a hub for new and creative startups in the municipality of Oeiras, 20 minutes from Lisbon.