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Crowdfunding Market Validation Accelerator for Early Stage IoT Start-Ups.
About the program
Crowdfunding Market Validation for Early Stage IoT Start-ups.
Validate your market and attract A round investors with a top tier crowdfunding campaign covered by us.
Before you go ahead and invest in costly R&D we will provide you with all you need for a successful crowdfunding campaign; making your start-up more attractive to A round investors. We eliminate the majority of the business risk associated with your company: proving that customers are lined up willing to pay for your product. With customers lined up, finding the right partners, distribution channels, pricing and production all become easier. All this making you far more attractive to investors, raising your valuation (jumping from pre-revenue to revenue valuation) and your next round of investment. Typically, companies that raise $1M+ in crowdfunding proceed to raise $8M+ in their next equity round. Having verified demand for your product; knowing what your customers want and how much they are willing to pay for it, you are now in far better position to go ahead and invest more wisely in your R&D.
Nomadigo’s QrossBow fund will cover participating start-ups campaign costs with an investment of $75k in exchange for 8% equity in the company and 5% of cash raised during the crowdfunding campaign. In addition, qualifying startups will receive a $200k grant towards manufacturing; a line of debt financing contingent on the raise; co-investment opportunities from some of the leading investors in the industry.
Instructions to apply
In order to qualify for the Nomadigo IoT accelerator you must have an IoT product that targets one of these markets:
• Consumer – An off the shelf product that individuals would purchase directly (as opposed to organizations or businesses).
• Prosumer - Customers needing and willing to pay for professional grade equipment/solutions (for example: 3D printers, camera stabilizers etc.).
In addition your business model has to fall within one of the following models:
• Platform Solution - Your product is something that generates data and allows other products to be developed on top of it (Nest is a good example of such a product, adding to their initial thermostat smoke detectors and other security devices).
• Consumable Model - Have a recurring purchase model (coffee machines capsules and printers are well known examples of this business model).
Applicants are required to demonstrate a working prototype that shows domain expertise.
We have no access to your private data from social networks and will never post anything to your profile or your wall.
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