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F.A.Q.

My english is a little rusty, may I still apply?

You do not need to be an english native speaker, however we do expect you be able to follow the program in English and communicate with mentors, coaches and investors.

Is my age a factor in your selection process?

No. We’ll likely have a look at your skills and competences, but age is certainly not a factor we consider in the selection process.

Where will we live while we’re attending the accelerator?

Finding accommodation for the time of the accelerator is up to you. We’ll be happy to provide you with some tips and tricks on how to get around on the housing market in Vienna.

What exactly does weXelerate provide?

Our program includes mentorship by international executives and serial entrepreneurs, workshops as well as individual coaching sessions on various different topics, plenty of opportunity to network with and get the attention of investors and corporates and free working space and infrastructure Austria's capital city Vienna, all for 4 months.

Do I have to stay in Vienna after the program has ended?

No, the choice for location of your start-up and team is absolutely up to you.

Can I stop by your office to say hello?

Please don’t stop by without having made an appointment. Contact us first to discuss the need for a personal meeting.

I just applied, now I’m thinking of emailing the mentors to get them interested in my start-up. Good idea?

We receive a big amount of applications per year, which is why there is a systematic process that we follow. Our mentors are eager to help bring forward the startups that weXelerate selects, but are not part of the process itself. Emailing them will not provide you with any sort of advantage.

Is there a guarantee I will be funded when I am accepted into the accelerator?

Participation in the accelerator is not tied to any financial funding. However, you will be exposed to many international investors during your time on-site and especially on the final demo day. It is ultimately up to you to grab their attention with your idea.

Will you provide feedback on application results?

Due to the large amount of applications we receive we are unfortunately not able to give any individual feedback.

Can you get me a visa?

Getting a visa so you can legally stay in Austria for the time of the accelerator is up to you, but we will support you with the right contacts and any other insights regarding any bureaucratic work.

Do we have to be European Union citizens?

No, being a EU citizen is not a criteria in the selection process. However, weXelerate can not guarantee that you will be granted an Austrian visa.

Do we have to start our company in Austria?

No, you are free to found your company wherever you want.

Can we do it without moving to Vienna?

Since all the coaching and networking will happen on site, we do expect that you are primarily based on site with a team of at least 2 people. Our accelerator program might be a good choice if you think about entering the german speaking market and testing your sales and business development approach for 4 months by using the infrastructure we provide.

What industries does weXelerate focus on?

We focus on the fields of Banking, Insurance, Industry 4.0, Media, Infrastructure & Energy as well as on technologies like IoT, blockchain, cybersecurity, AI & bots and mobility solutions. If your startup does not relate to any of those industry fields, you are not automatically excluded from a chance to participate, and we still encourage you to submit your application.

We don’t really need money. Does it still make sense to apply?

Absolutely. Being accepted into the accelerator is not tied to nor does it guarantee any financial funding.

Will you sign an NDA? How do I know you won’t steal my idea?

We will not sign an NDA because of unproportional administrational expense. However, no venture firm would steal your idea at this stage.

When does application for the next batch open/close?

Application is now open. Deadline for applying to the next batch is November 13th 2017.

Is there any support for cost of living during the time of the accelerator?

weXelerate does not offer any financial support, but we can help with with applying for certain subsidies provided by the state of Austria or the “Wirtschaftsagentur Wien” if you are an international applicant.

We also have special offers for our startups, just like:

Housing:
Our housing partner THE FIZZ has your private apartment waiting for you only 8 minutes away by tram line 2. Enjoy 50 % discount on first month’s rent and 25 % on the next three. ➡️ www.the-fizz.com/en/wexelerate

When does the next accelerator batch start?

Starting date for the next batch is March 8th, 2018.

I have not officially founded my start-up yet, can I still apply?

No problem. If we choose your idea you’ll get all the support you need to officially found your business.

How much does the program cost?

Participating in our accelerator is 100% for free.

Does weXelerate take shares of my start-up?

No, we do not take any shares. However, in case you are having a potential cash funding round at some point, we’d like to have the opportunity to participate.

My start-up already has investors, can I still participate?

Yes, weXelerate does not take any of your equity, and if you get the attention of one of the many investors on site it will be up to you to make a decision concerning further funding.

Is the program full- or part-time?

Our accelerator is built as a full-time program for 4 months. However, your time will not be crammed with pre-scheduled and mandatory sessions. We rather encourage you to take advantage of our individual and flexible coaching offers in various different areas so we can guarantee that your startup gets exactly what it needs.

Do I have to be at the weXelerate location in Vienna for the entire 4 months of the program?

Yes, we do require that you be primarily based on site during the program since most of the coaching provided will happen in person. Since we encourage you to prioritize on two major points however, developing your product or service is equally important as talking to your customers, which will likely require you to leave the weXelerate building at times. : )

What stage does my startup need to be at?

We will consider your application independent of the stage that your company is at. Nevertheless you should be able to show us a prototype of your product/service.

What happens after the 4 months are over?

You’ll be part of our alumni family when you’ve finished the accelerator. If you’d like to stay in our office we’d be happy to chat about potential free office space. In general you are free to move your business wherever you want and continue using the network you’ve been able to build during your time on site under your own conditions.

What size should my team have, and can I bring everybody to Vienna?

The size of your team does not matter to us. However, each team can have a minimum of 2 and a maximum of 4 people on site.

What's the criteria i need to fulfill in order to participate

The only criteria we require you to fulfill is that at least 2 members of your team will be in Vienna during the time of the weXelerate program. If you are confident that you’ll be able to do that, we encourage you to submit your application.

What is an Accelerator?

An accelerator is a fixed-term and cohort-based program where accepted startups are provided with mentorship, education, working space and infrastructure for 4 months.