Application Frequently Asked Questions

 
 

Logistics

 

What happens at when you go though the Virangana Project program?

 

Do we need to write a business plan?

We make funding decisions based on our application form and personal interviews. If you don’t have a plan, we’re happy to work with you to develop one if you are short-listed. However we would like to know if you have a great business.

 

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

No, we won't sign an NDA. No venture firm would at this stage. The informal commitment to secrecy on our application form is more than any VC would make.

 

Our group has two ideas. Can we submit two applications?

We don't recommend it. You should pick your favourite idea and apply with that one.

 

Why didn't you accept our application?

Don’t take it personally and don’t be discouraged. There are a number of reasons why you may not make it on to the short list. There may be insufficient information, your numbers may not stack up, or there may be a specific focus on certain industry sectors in the current intake. Don’t give up and keep trying.


Should I Apply?

 

We've already been working on our companies for a while, is The Virangana Project appropriate for us?

We've helped a lot of companies like that. In fact, we especially like them. We can probably help any companies that haven’t already raised a series A round from VCs.

 

We've already raised funding. Can we still apply?

Yes.

 

Do you only fund startups that write software?

No, we'll consider startups in any field. We've funded companies that make everything from microbes to fusion reactors to coffee carts. See our requests for startups to see some of the fields we're particularly interested in, and pages specifically for ai, hardware, BioTech, MedTech and EduTech companies or any interesting digital product or service.

 

Can a single person apply for funding?

Yes. We regularly accept solo founders. That said, our advice remains that one-person startups are tough and you're more likely to succeed with a co-founder.

 

I have a great idea for a startup, but I'm not technical. Will you still fund me?

It's important for the founding team to have the skills to build their product themselves, rather than outsourcing it to someone else. For most businesses, that usually means you need a technical co-founder.

 

Do we need to know someone at Virangana Project Program to get in?

No. One of the Virangana Project core principles is to consider all applications base on an equal set of data. We don't rely on introductions the way many investors do.

 

If we participated in another accelerator, can we join the Virangana Project Program also?

Yes. We've had many companies join the Virangana Project Program after working with another accelerator. However, if you've done another accelerator already, we may expect that you've reached a higher level of progress.