A 10-WEEK PROGRAM FOR EARLY-STAGE TEAMS WITH TRACTION, COMMITTED TO RAPIDLY PROGRESSING AND SCALING THEIR VENTURE.
The Generator Team is thrilled to announce applications for The 2022 Accelerator Program are now open!
This program is for Monash University change-makers, innovators, and big-thinkers (current students, staff, researchers and alumni) who are working on validated ideas or early stage startups to achieve significant and sustainable growth for their venture.
Over an intensive 10-weeks, you will be guided by Entrepreneurs-in-Residence (EiRs) and mentors, provided equity-free seed funding and access to our gorgeous new co-working space to rapidly progress your startup.
The program is flexibly structured to accommodate the changing needs of innovators in 2022 and adapt to the ongoing challenges of global entrepreneurship.
You will have exclusive access to:
- 1 x weekly masterclass (compulsory)
- 1 x weekly pitch & communication practice (compulsory)
- A weekly 1:1 session with a dedicated EiR (compulsory)
- A world-class advisory network of Monash alumni and startup superstars
- Dedicated space in the brand new Generator co-working space on Clayton Campus
- $10,000 in equity-free seed funding per team
The Generator’s Accelerator Program has supported over 50 early stage ventures to date. Notable alumni include Additive Assurance, Ally Assist, Dillicious, Merry People, Mindset Health, The Dough Co, and Pory.
WHAT TO EXPECT
You’ll be guided by some of the best startup coaches and mentors in Australia. In addition to your lead coach and dedicated EiRs, the program also provides you with access to industry advisors to call on for specific support.
You’ll find your tribe. Alongside the Accelerator program and Generator team, you will be part of a select cohort, where you will support each other and become a network for each other for life.
Your path will be clear. The intensity of the 10-week program is designed to help you set and rapidly achieve milestones, and develop your path to growth beyond the program.
You’ll be connected to investors. The Generator actively works with investors of early stage startups. We focus on growing your traction and helping you communicate your value so you can confidently pitch - whether it’s to a customer, a partner or an investor.
WHO CAN APPLY?
Teams and individuals will benefit most from the program if they:
- Can show validation of the idea -- this can be an early minimum viable product, customers/users, a prototype or extensive insight through industry expertise or quality customer interviews
- Deeply care about the problem and have some domain expertise
- Are committed to growth and creating a viable venture
- Are open and willing to be guided by the coaches, mentors and advisors
- Have clarity about what they hope to gain from the program
At least one team member with an active role or at least 10% equity in the venture must be a current student, staff member or researcher at Monash or an alumnus of Monash.
You and your team must also be able to attend all core components of the program. At least one member of each team MUST attend each session in its entirety to remain in the program. We keep these to a minimum so you have time to deeply focus on your business.
|Applications open||Apply now|
|Applications close||Monday 1 August|
|Selection interviews||16 & 17 August|
|Program commences||Monday 5 September|
|Program Masterclasses and Pitch Practice||Tuesdays 10.30am - 12.30pm; 2.00pm - 3.30pm|
|Program concludes||Tuesday 8 November|
|Showcase Event||Wednesday 23 November|
Q: I don’t have a team? Can I apply?
Yes, we accept applications from solo founders.
Q: My team consists of people that don’t currently or have never attended Monash University, can we still apply?
As long as one founder (at least 10% equity) has a Monash University affiliation either as a current student, staff member or alumni, the remainder of your team can consist of anyone who makes sense and they do not need to be affiliated with Monash.
Q: I’m an international student at Monash University, can I apply?
Of course. The program is open to both international and domestic students, just note you need to be based in Melbourne for the duration of the program, so if you graduate before the end of the program, you need to be able to stay in Melbourne until the program concludes in late November.
Q: My startup is already going through an accelerator at the same time as the Generator’s Accelerator program, can I participate in both?
Unfortunately, due to the time commitments (of both programs!) it’s unlikely you’d gain the best value from participating in two programs. For that reason, we won’t be able to accept teams that have been accepted into an accelerator program that runs at the same time. If you think this is going to affect you, let us know and we can have a chat about it.
Q: I’m a second time founder and my first company didn’t work out. Will The Generator hold that against me?
We’re sure you learned a lot from the experience and are applying this to your current project, so we don’t take this as a negative.
Q: Can you apply to The Generator with just an idea?
Yes, but if you don't have an MVP or product in market your idea needs to be well validated for consideration into the Accelerator. We accept companies that are all at different stages into the program, from idea stage through to those that have already received funding. Not all startups that come into the program have a product and that’s ok!
Q: Is The Generator just for early stage companies?
No. We’ve had companies in the past, such as Tixel (2018) and Dillicious (2020) who had been running for almost a year and were profitable when they entered the program. The Accelerator helped them to grow rapidly and build on their existing business.
Q: Can you apply if you haven’t launched?
Yes, but ideally you already have some traction as it makes it easier for us to identify a team worth backing. However, we have accepted a number of companies that have not launched before they apply.
Q: This program sounds amazing, but I don’t have a side project or idea, can I join a team?
Unfortunately, we don’t have capacity to help people join teams, but we encourage you to come to our events and our other programs, such as the Validator, and get to know the startup community at Monash. You never know, you may meet your future co-founder or find a team that needs another team member!
Q: Can you apply if you have raised money?
Yes. We think we can be helpful for any company that hasn’t yet raised a Series A.
Q: Do you only accept certain types of businesses? Are not-for-profits able to apply?
We fund and support all kinds of businesses, irrespective of industry or domain. This includes not-for-profits, social enterprises, commercial enterprises – we even had a charity participate last year.
Q: Does the startup need to be based in Australia and for the Australian market?
Not necessarily. At least one founder needs to be based in and working on the startup in Melbourne for the duration of the program to attend the compulsory elements of the program, in order for you to get the most out of the program. If you have any concerns about this, reach out to us for a chat.
Q: I don’t have a technical background, can I still apply?
Of course! We accept all different types of ideas – your business doesn’t need to be tech based and we’re not just looking for technical founders. If your idea is technical but you don’t have the skills, don’t worry! Put in an application and we can help you figure that out along the way.
Q: Do you have to pay the money back?
No. The money from the Generator as part of the program is a grant, not a loan, so you don’t have to pay the money back. Even if your business doesn’t succeed, we don’t expect you to return the grant.
Q: Does The Generator take any equity in my startup?
No, but we do expect founders to give back to the community in two ways. Firstly, we want you to grow an incredible and sustainable business! Secondly, by participating in our culture of paying-it-forward by passing on what you’ve learned to the next generation of founders. This may involve being a mentor, guest speaker or workshop leader. Please note this does not preclude any claims to intellectual property by Monash University or other third parties. We recommend you seek professional advice if there is any uncertainty about ownership.
Q: Can you use The Generator grant to pay your salary?
Yes. The money is to be used to pay for business-related expenses in order for your business to make the most progress during the program. This can include founder salaries if that makes the most sense for business and situation.
Q: Does a real person actually read my application?
Yes, our Entrepreneurs-in-Residence and The Generator staff read every application, and we run all applications through a rigorous scoring process. The Generator is committed to supporting a diverse and inclusive community, and as such, all judges are put through bias training before our judging process.
Q: Does seed funding, exposure to other accelerators, media coverage count as traction too?
Sure does! Anything that shows us you are making progress with your businesses or to launch your idea counts as traction. Traction will look different for each team.
Q: Argh! We just realised we have to include a video on our application submission! What are you looking for? How professional does it need to be?
Relax. Take a deep breath. We ask for the video as another way of getting to know you and your team during the application process. It doesn’t need to be fancy! Record it on your phone or webcam and just be yourselves; you don’t need to rehearse it or make it polished! But do stick to the time limit, we won’t (and don’t have the time to) view anything over one minute.
Q: Do you have to spend the full 12 weeks of the program in Clayton?
Yes. However, we want you to spend as much time with customers as possible, so if that predominantly working from a different location, that’s OK. We keep our contact time minimal but those masterclasses, EiR sessions and pitch practices are compulsory, because we know they will help you rapidly develop and scale.
Q: Do all the founders have to attend the entire program?
Not if your business needs you to be elsewhere. We encourage founders to be wherever their business requires, but we do expect participation in core program events. This means that at least one founder must attend each session in its entirety. If you foresee an issue with this, let us know during the application process so we can work with you on this.
Q: I have uni/work/a family that I also need to attend to, do I have to be working on this full time?
Yes and no. We expect you to be dedicated to making your idea/side project/startup a reality and that takes commitment. We understand that you may have uni/work/a family that you need to also juggle and we take that into consideration when developing the program.
Q: What happens after the program? Does The Generator continue to support the teams?
Of course, you can’t get rid of us that easily! We continue to support the Accelerator teams after the conclusion of the program through mentoring and a further three months of coworking space.