FAQ

FAQs

What does ACE stand for?

Accelerating Creative Entrepreneurs.

Where will we work out of?

The startups will get incubated at our awesome campus located at 3rd floor, South Annex, ISME Tower, One Indiabulls, Lower Parel, Mumbai - 400013. Click here to know more. For Startups based outside Mumbai, we have office spaces provided by our program partner AWFIS across cities in India.

What is the quantum of funding support?

Each selected Startup will receive a seed fund of ~$100k at the beginning of the 4 month accelerator program, with ~$33k as program fee.

Will we have to share equity with you?

Yes. We will take ~8% stake in your Startup in exchange for the seed fund and a host of other benefits on offer, such as

  • Open doors to our financial services partner firms - Banks, Payment Banks/ Wallets, Retail NBFCs, Insurance companies, Asset Managers, Private Wealth Managers
  • Pertinent, need-based & practical mentorship by sector leaders, growth hackers, Startup founders, tech experts and investors
  • Cloud credits by leading tech giants
  • Best in class knowledge, accounting and legal support by program partners
  • Networking with media and investors, with help to raise next round of funding

Are there any out of pocket expenses?

NO! We do not want the Startup founders to shell any more money.

Who are the mentors?

Mentors are high profile individuals from financial services sector companies - Banks, NBFCs, Insurance companies, Mutual funds, Payment Banks, Wallets, etc., along with technology experts, growth hackers and Startup founders. Click here to see the list of mentors.

What happens at the end of the program?

In the last week of the program, there will be a Demo Day, in which Startups will get opportunity to pitch to full house of VC/PE investors, TiE & IAN for further funding.

What are the dates for the next batch?

Startups can apply any time between 20th June and 25th July. On around 15th August, 20 to 30 shortlisted Startups will be invited to present on campus (Startups that cannot come to present may present via video conferencing). The 4 month Accelerator program for the selected ~12 Startups will kickstart around 1st September.

What if I have already raised funding prior to joining ISME ACE?

That is great! We welcome Startups that have already raised a round.

How do we apply for the next batch?

All Startups will have to apply online by filling the simple online application form on our program partner website f6s. Click here to apply.

We have 2 or more ideas to submit. Can we submit all ideas?

Yes, you are more than welcome.

What are your selection criteria for the accelerator program?

Traction, idea, team, market size, competition - you know, the usual suspects. But there is no fixed formula. At the end of the day, our selection panel comprising of top people from financial services industry will be the judge and jury.

Startups at what stage are selected for the accelerator program?

There is no clear demarcation with respect to stage of startups. We are open to inducting Startups ranging from idea level to well-funded Startups.

What are the chances of us getting through?

Don't worry about it! Trust us! If you have a brilliant idea or meaningful traction, we will take you in. We may increase the batch size beyond 12 if need be, to accommodate a worthy team. We have ample extra space at our campus for the next gen disrupters!

We don't need any more funding. Should we still apply?

Yes. Simply because we are a complete ecosystem housing Startups with host of benefits - click here to see full list of benefits

What are expectations from us?

Work full time with us at our campus in Lower Parel or at our program partner AWFIS (outside Mumbai) - all cofounders should be full time and committed to the Startup. Other than that, work hard and magic will follow!

We are not from India. Can we apply?

Yes. International Startups will have the option to work remotely once selected. However, if convenient, working from Mumbai will be a lot more beneficial to you for obvious reasons. The call is yours. Pitching, mentoring and other sessions will be conducted online if you are working out of your base location.

We weren't selected for the Accelerator program. But can we still get incubated in some way and avail the ACE ecosystem benefits?

Can't say for sure. Depends from Startup to Startup. You can get in touch with us at parth@ismeace.com. We will try to figure something out for you.

We just missed the deadline. Can we still submit application?

Yes. Mail the applications (pitch presentations) to us at parth@ismeace.com and we will review your application. However, the disadvantage of late submission is that we may not be able to consider you if the slots are already full. But there is always space for wonderful ideas, products and teams!