OBJECT AND DEFINITION
Discoveries is an initiative promoted by Fábrica de Startups. It will take place from 27th October to 6th of December 2023.
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.
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, crowdsourcing, software as a service, market places, augmented reality. However, if the idea is applicable to the Tourism Industry with sustainability at its core, 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.
Applications Open - August 29th, 2023
Applications Closed - October 8th, 2023
Results Announcement - October 20th, 2023
Bootcamps - October 27th to November 30th, 2023
Investors Day - November 6th, 2023
October 27th - Context, Objectives, Scalable Business Models
October 31st - Customer Development & Performance Indicator Definition
November 7th - Value Proposition, Problem-Solution-Fit & MVP
November 9th - How to Get, Keep & Grow Customers
November 21th - Key Activities, Resources & Partnerships
November 23th - Revenue Streams, Costs Structure & Financial Plan
November 28th - Investment Readiness Level, Startup Evaluation, Funding Strategies & Term Sheets
November 30th - Investment Pitch
December 6th - Investors Day
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 online interview
The program will have 8 (eight) hybrid bootcamps. The first four bootcamps will be conducted online, and the final four bootcamps will be in-person. During this program the teams will define, validate, and adapt their business idea.
Participation in Discoveries requires the presence of the teams in every Bootcamp Sessions, Working Hours and Final Pitch event.
You will be notified by email of your selection, and approval of your team application. Selected teams must confirm their participation on the program from October 20th to October 24th, 2023.
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 bootcamp.
Mentorship: mentorship session, where teams are accompanied by experienced mentors that will meet with the teams during the five-week period.
Guest Speakers & Specific Training: experts that join the session to give insights on specific topics.
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.
Participant teams will receive expense support to assist with their presence in Portugal. The support covers their costs for attending in-person bootcamps and Investors Day, amounting to up to 1000€ for international teams and 500€ for national teams.
This support includes:
Up to 500€ for flight ticket to Portugal (only international teams);
Up to 350€ for accommodation;
Up to 150€ for meals and public transport.
The payment is dependent on delivering the original invoices and attending bootcamps (both online and in-person) as well as Investors Day.
All invoices must meet these criteria:
The invoice period must be between the first day of the in-person bootcamp and Investors Day, and it should only include working days.
Invoices cannot include the term "End Consumer”, (“Consumidor Final”).
If any of these criteria are not met, invoices will not be considered, and payment will not be issued.
Payments will be made via bank transfer. All participant teams must provide a valid IBAN to which the payment should be made.
Invoices must contain Fábrica de Startups company details:
Company name: FABSTART – Fábrica de Startups, SA
Address: Av. Marginal – Ed. Parque Oceano, 3ºG, 2780-337 Oeiras
VAT number: 510 138 110
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.