What types of business is the Accelerator focusing on?
We are looking for technology-focused startups with a passion for innovation and lots of creativity, who share our revolutionary vision. These are innovative, tech-savvy companies with cutting-edge concepts that could take healthcare into a new dimension.
What role is AIA and Konica Minolta going to play in the Accelerator?
AIA and Konica Minolta are committed to supporting entrepreneurs and startups. We will provide mentorship from carefully selected business leaders and entrepreneurs to help you develop your business. AIA and Konica Minolta will support companies that are accepted by providing mentors, visibility and engagement around business opportunities that emerge from this programme. You’ll also have the collective resources of Nest, both during the programme and afterwards.
Will all the mentors come from within AIA and Konica Minolta itself?
No. Some will, but they will be joined by a network of entrepreneurs and business leaders, many of whom are listed on the Nest website http://www.nest.vc/team.
What if my company is not an expert at developing healthtech solutions?
We’re not looking for experts, just creative startups with a visionary attitude and inspiring ideas. You’ll get access to Nest, AIA and Konica Minolta’s experts in the field. All we ask is that you’re capable of building your own solution, have the drive to make it happen, and are focused on the potential of your startup.
What size does my company have to be to join this programme?
We’re focusing on startups, so these tend to be small businesses or individuals, though there’s no limit on the size of the company applying. We’re particularly interested in healthcare solutions that can be quickly brought to market and will be ready for beta testing or launch at the Investor Demo Day.
Does my business need to be a B2C or B2B business?
It can be either.
Is there a cost to apply and do you take equity?
The programme is free to startups. We do not take equity upfront.
What will a typical day be like for an accelerator participant?
We’re pleased to say there’s no such thing as a typical day. Throughout the programme, you can expect somewhere in the region of 100 potential meetings with mentors, venture capitalists, CEOs, innovators and industry visionaries.
Who is Nest?
Hatched in 2010, Nest is a full service early-stage venture capital firm focused on helping startups and talented founders from around the world build businesses that apply and commercialise innovation. Nest also partners with leading corporations to run a series of mentor-driven accelerators. Designed to support the needs of high potential and fast growth startups, these programmes include a unique mix of resources that enable entrepreneurs to build and scale their businesses rapidly.
Nest was founded in Hong Kong and has presence in Singapore, Bangkok Nairobi, London, Paris, New York and Los Angeles.
Why did AIA and Konica Minolta partner with Nest on this programme?
The AIA-Konica Minolta Digital Health Accelerator is a ‘powered by Nest’ programme. This will be run by a dedicated team to help bring innovative business ideas to market. Nest has a tried and tested model of running corporate accelerator programmes to provide world-class mentorship, education, strategy support and investment preparation for early stage companies.
How does the application process work?
Interested startups can apply online through our dedicated F6S application page. It includes a few simple questions about your company and your team. You’ll have the opportunity to link to videos and other assets that describe your business.
How detailed does my idea need to be in the application?
In this initial application process, we ask applicants to describe the market opportunity, the team, the concept that you want to take forward and how you plan to execute it. The more information you provide, the easier it is for us to assess the full potential of your business. You may be invited to a live pitch day for the accelerator vetting committee to meet the teams in person.
Do I need to send in a business plan?
No, just complete the online application.
Is my age a factor in your selection process?
When is the deadline to apply and what’s the overall timeline?
Applications open on 1st December and the deadline for submissions is 31st January 2016. The timeline on this website has full details, including start and end dates of the programme.
How can participants receive funding after the accelerator ends?
You’ll have the opportunity to showcase your product or service at Demo Day, where a range of potential investors including venture capitalists and influential industry leaders will see your proposition and listen to your pitch.
Will Nest invest in my company?
As a condition of inclusion in the programme, Nest will sign an option agreement to invest in your company at a mutually agreed upon price. This option must be exercised prior to Demo Day and will only be exercised if, after the 3 month period, we jointly feel that Nest can add significant value to your business. As an early stage investor, Nest understands the type of support you need and we are able to provide that support through our expansive network and our ability to market your company globally.
When is the Investor Demo Day?
The Investor Demo Day will be held in June 2016. This exclusive event will be closed to the public and the guest list will include key people from our joint network of industry leaders, investors, venture capitalists and press.
Will AIA and Konica Minolta invest in my company?
AIA and Konica Minolta will have the opportunity to invest in your company after evaluating your product and pitch at the Investor Demo Day.
Do companies have to be on-site for the entire 12-week period?
We do require that at least one key team member relocate to Singapore for the duration of the accelerator to participate in programme activities. Costs associated with travel and housing may be partly sponsored by programme partners.
Can I apply if our company or founders are not from Asia? Can you help with visa/immigration issues?
Anyone from anywhere can apply. If you’re accepted, you’ll need to have a legal right to be in Singapore. Nest, AIA and Konica Minolta can help facilitate working visas for successful companies for the duration of the programme. If this isn’t possible, we can put you in touch with agencies and services that can help you with visas and immigration, but we can only do this once you’ve been accepted into the programme.
Due to the 12-week duration of the programme, most applicants will need to apply for an extension of their visa or obtain a multiple entry visa. This can only be done when you have arrived in Singapore and the process may vary according to country you are from.
Detailed Singapore Visa & Immigration information:
Note: Whilst Nest will endeavour to assist all foreign applicants to obtain correct visas for the programme, we cannot guarantee approval. Acceptance into the programme does not guarantee visa approval.
Is a participating company’s product or service guaranteed to be endorsed by AIA and Konica Minolta?
No, there are no guarantees. It is entirely at AIA and Konica Minolta’s discretion as to whether a participating company’s product or service is taken on and endorsed by their respective companies.
How do I get in contact?
If you have further questions about the programme, please do not hesitate to contact the Nest team by email at AIA-KM@nest.vc.