Where Success Begins
Telenor Accelerate is inviting
Early-stage startup teams with an MVP (minimum viable product) that is connected to the internet, in fields such as FinTech, mHealth, education, entertainment, E- and M-commerce, communication, gaming, IoT, M2M, cloud, mobile application or hardware.
Hungarian or Hungary-based teams, but Europe-based startups may also be included if they have or are ready to set up a Hungarian legal entity and are willing to relocate to Budapest for the time of the acceleration.
Startups committed to dedicating most of their time to product development and attending the acceleration sessions from October 2017 to March 2018 in Budapest and Törökbálint.
FOUNDER, OWNER AND HEAD OF OXO GROUP
Péter Oszkó is the founder, owner and head of OXO Group. He has been dealing with venture capital investments and start-ups since 2010. Having experience in teambuilding, managing an organisation, creating a market and developing a customer base, he would offer long years of experience for the chosen team. According to him, apart from an overview on the economy and owning investment capabilities, the human factor is just as important in building and maintaining a successful organisation.
MANAGING DIRECTOR OF BRIDGE BUDAPEST
Veronika Pistyur is the CEO of Bridge Budapest. She has been working with start-ups for four years, when she was chosen to be a mentor in Kitchen Budapest's mentoring program. An entrepreneur, Veronika has a complex background, having experience both in agencies and on the customer-side, while also having practice running a small business and working for a large enterprise. She cites consciousness, self-confidence and trust as the most crucial assets in the start-up world.
INVESTOR, FOUNDER OF CENTRAL INVEST FUND
Zoltán Varga started his career at the Budapest Stock Exchange but has been an investor for the past 15 years, beginning as an angel investor. He has a broad range of experience, working on projects from aviation and chemical industry to content development or cable services. He expects fresh ideas and imaginative colleagues and is looking forward to the experience of working on Telenor’s Accelerate project. In his view, persistence, openness and confidence are indispensable in this world to succeed.
MANAGING DIRECTOR OF EXTREME DIGITAL
Balázs Várkonyi is the Managing Director of Extreme Digital, the market leading Hungarian e-commerce company. He was only 21 years old when he started the business with a partner in 2001. In his view, a start-up should be more than just an idea, as a defined target group, a market and a plan is just as important and necessary to succeed. He would offer not only the capital and a business opportunity, but a professional expertise as well to the potential winners.
MANAGING DIRECTOR OF MISYS DIGITAL CHANNELS
Balázs Vinnai is the Managing Director of Misys Digital Channels. He has been working with start-ups ever since finishing secondary school. He has years of experience in mentoring and developing talents, as since the launch of IND, him and his business partners has been supporting and launching several other start-ups. He thinks it's crucial not to limit the ideas to only one country or region, as a global approach needs to be implemented to one's thinking. Risk-taking and being able to make decisions are necessary in running a successful business.
MANAGING PARTNER, DAY ONE CAPITAL
György Simó is the former co-founder of Origo.hu, where he was also responsible for content production and program management. He is one of the best known angel investors in the country with relevant international pedigree. The IT-focused professional has strong managerial view and solid expertise in supporting entrepreneurs. In addition to being a highly successful venture investor, he has also been awarded for his excellent organizational development activities.
|Workshop #1||Service Design||Batorfi Zsolt|
|Workshop #2||Lean Startup||Kovach Anton|
|Workshop #3||UI/UX||Nemeth Adam|
|Workshop #4||Agile Development||Kovach Anton|
|Workshop #5||Digital Marketing||Arany Janos|
|Workshop #6||Growth Hacking||Kovacs Peter|
|Workshop #7||Fund Raising||Szandrocha Kamilla|
|Workshop #8||Pitching||Willy Benko|
Our application process is the following
- You have a team of professionals around you that is capable of rolling out the product service you want to bring to market. You can of course apply as a one man show, but the likeliness of being selected is marginal.
- You have an MVP product already. What we call MVP is a version of the product (say beta version) that can be tested with real customers. The program is mainly about validation, there will not be time for drafting the product / service from an idea only. Pay attention in the application process to what stage your product is in.
- Application process
- You visit our application platform powered by Indiviso
- You fill out a one pager describing your product
- Once that is submitted you will get a video interview invite that you need to perform in the given time frame and no later than 4 September, 2017.
- If you are shortlisted for the pitch day, you will get the draft term sheet that needs to be signed before attending the pitch day. For more info about the terms sheet, see below.
- We will invite 8-12 teams to the pitch day where you need to present your idea in front of our Mentors. Presentation should be 5 minutes with some Q&A afterwards.
- We will announce 3 participants to our 2017 Batch on the pitch day. The announcement will not be made public until 2 weeks.
- There will be a 2 week window to sign the fundraising and participation agreement with the selected winners.
If you are selected to participate on the pitch day, you will be asked to sign a term sheet outlining the main principles of our investment. This includes standard terms and conditions similar to what you would find in any other accelerator or VC firms. If you haven’t seen such term sheet yet, there are some more important topics below:
- Investment and equity stake of Telenor and Mentors
- Right of first refusal for Telenor
- Preemption rights
- Anti-dilution protection
- Tag along and drag along rights
- Liquidation rights
- Rules of next round of fund raising / capital transaction
- Business conduct rules
- Acceptance of Telenor ethical standards
- Veto rights of Telenor in certain spending categories of investments and strategically important decisions (these rather serve protecting our investment and do not deem to Telenor influencing in any means the management of the company, this will be principal right and duty of the founders)
- Some representations and warranties like
- You are the sole owner of the product / IP you bring to this program
- Your company is a Hungarian registered clear of any pending liabilities
- You and your team dedicate full commitment to this company. Being an entrepreneur is not a part time job. Fundamentally we invest in the team that we think is capable of delivering the project.
- Exclusivity for a period of 3 month. This is basically an assurance that you are serious about accepting the above terms and participating in the program.
Telenor Accelerate’s winner startups
Online service that helps amateur gamers to turn pro with the help of recognized eSporters, educational videos and personalized tips.
Mentor: Zoltán Varga
A digital educational platform for individual music education, which aims to deliver a solution inspired by the Kodály method and its experience accumulated over the last 60 years with today's state-of-the-art digital devices to the widest range of users.
Mentor: Veronika Pistyur
Online marketplace through which individuals can sell e-tickets to any events. The purpose is to make the exchange of tickets between private persons more secure and convenient.
Mentor: Péter Oszkó
Smart bike that alerts the owner in case of a theft, regardless the distance. The exact location of the bike can be tracked through a mobile application. The built-in sensors detect when a major accident occurres and the cyclist is unresponsive. Zoi smart bike will automatically send an emergency message along with the exact location of the accident to the contact person, formerly specified by the cyclist.
Mentor: Balázs Várkonyi
Talent matching platform – an online interface for recruiting business trainees. With the help of filtering, both the companies and the students in higher education can easily find either the best candidates or the best trainee and career poisitions for themselves.
Mentor: Balázs Vinnai