Is your idea the next big thing?

Startup SuperNova is an intensive ten week long business accelerator program. The aim of the program is to get you investment ready and bring your product to market. You will get access to top notch mentorship, a fully equipped office space, and multiple networking opportunities. The program culminates with an investor day where the startups pitch their ideas to a room full of investors and other movers and shakers.
Application deadline, April 11th 2021

Direction

Business Model + Customer Development + Mentor meetings

Stage 1

4 weeks of direction

The startups meet with dozens of mentors and listen to numerous lectures. They receive feedback from all directions and simultaneously grow their network of business contacts. The Startups form their business model and map the Customer Journey.

Doing

MVP + Marketing + Design

Stage 2

4 weeks of doing

The startups start to work on the directions given in the first stage. Step out of the building for user testing and customer development. Followed with focus on sales, marketing, financial planning and fundraising. They get support to attract media attention and effectively communicate their business.

Delivering

Sales + Pitch + Funding

Stage 3

2 weeks of Delivering

The startups get access to a team of professionals with extensive experience and proven track records from startup financing to guide them on their pitches and best practices for presenting exciting business opportunities. Finally, the startups get extensive training pitching, and stage performance for Investor Day.

What are we looking for?

Innovative teams with smart and creative solutions that have the capabilities to perform in the global market. The accelerator is a great springboard for startups, and also an ideal platform for teams from more established companies developing innovative projects. The key elements are the innovative aspects of the solution as well as the composition of the team, their passion and willingness to go out of their comfort zone and work tirelessly toward their goals.


Is the accelerator only for startups?

No, since new ideas and solutions are often created within established companies, we would like to help accelerate that process as well. We encourage managers of those companies, especially those who have had to cut back because of Covid-19, to apply to Startup SuperNova with a driven team in order to expedite the development of their new solution. Participation in the accelerator could be a great way for the companies to deal with these changing times.


I’m concerned that if I apply, you won’t protect my intellectual property. Should I be worried about this?

Each application is treated as confidential.


Where are you located?

Startup SuperNova will be located in the heart of Reykjavik City, at Gróska, a melting pot for innovation.


When is the deadline?

Next application deadline is at midnight, April 11th 2021.


The application process

A team of experienced individuals will grade the applications once the deadline expires. Around 20-30 teams will be interviewed and from those teams we will decide on the final 10.


Do I have to be on site for the entire 10 weeks?

The teams will have access to a fully equipped office space which we encourage you to take advantage of and explore the opportunities involved in working in close proximity of other entrepreneurs.


Can I apply if our company or founders are not located in Reykjavik?

Yes, of course! We plan to take advantage of virtual meetings.


How much does this program cost?

Participation in the accelerator is free of charge. Participants will, however, have to pay for their own travel and accommodation expenses.


Do I have to give up equity in my company in exchange for the 1 million ISK grant?

Companies that are chosen for participation are given the option to receive 1 million ISK as a grant in exchange for the purchasing rights of 5% equity for 5 million ISK by the sponsors of the program. If the participants refuse to accept the grant, the purchasing rights become invalid. The goal of this is to give participants the flexibility to focus on the development of their solution while the accelerator takes place. Sponsors of the program are Nova, Gróska and Icelandic Startups.


What is included in the program?

In addition to the 1 million ISK that participants can choose to accept, the teams will also get access to a fully equipped office space, training and support from experienced entrepreneurs, investors, and industry experts along with multiple opportunities to strengthen their network and promote their business ideas.


Any more questions?

Feel free to contact us by phone (+354 552 5151) or send us an email at hello@icelandicstartups.is.