First of all, before submitting an application for participation in the round table of the Academy of projects Farminers, we recommend you read the answers on the frequently asked questions and the expert advice.
Also, before submitting an application, make sure that you have an idea that does not only attract you, but also complies with the requirements of the Academy. The service must be:
Besides, you must gain the interest of at least one like-minded person. The ability to interest people with your idea is the first test on the ability to realize it.
When you understand that you need expertise and investments, it is time to complete an application. The application form is here. To send an application, it is necessary to download the example, fill it in with the required information, complete it and download back. Pay attention to technical requirements.
You will receive an answer within 2 weeks of your application: either invitation to the round table, or a proposal to improve the project. We will include in the letter with the invitation, all the details of the coming event, and also contacts who it is possible to keep in touch with for support.
At the round table you will have the opportunity to present your project to the experts of the Academy and also other applicants. On average you will have about a minute for presentation and up to 10 minutes to answer specific questions. You will find details about the format of the event here .
After the round table has finished, the Academicians will decide which of the presented projects they are ready to continue cooperating with. Their authors will be asked to stay for individual meetings: first with the founder of the Academy Igor Matsanuk and other Academicians, and then, if there is mutual interest and the basic conditions satisfy both sides, our lawyers will be ready to explain all the details and formalities.
In case of necessity the team gets some time to make a decision. After the decision is made, the process of "settlement" begins: all the participants have to end their previous obligations, and the Academy has to prepare working places for them, equipped at their own request. At this time, there will be a legally binding agreement between the Academy and the team.
Each team gets a place in a comfortable office and up to $150 000, that is spent on employee salaries, equipment and software. However, the most important thing is the constant availability of Academicians, who will communicate daily with the developers of each project, and will always be open to communication, and answer questions. Also, in the framework of the educational program, seminars and master classes for residents are conducted by invited specialists and experts in separate spheres of the internet marketplace. In exchange for this support, the Academy in will be entitled to 40% ownership of each company.
The following three months will require the teams devote hard work to their project. After this time, they will have an internal exam in order to report on results of the work, progress and plans. If the exam is passed, the teams are given three months more to improve the project. If not - the Academy and the project part, finishing cooperation.
In no more than half a year after beginning of work as a resident of the Academy, the project has a demo-day. During this event start-ups all participate, ready to go to the next level of financing from interested investors. In general, at the end of the incubation period, each team will have three options:
- To receive a proposal to continue work, but not in the frameworks of the Academy, but personally with Igor Matsanyuk or one of the funds in which he participates;
- To accept a proposal from one of the investors, present on the demo-day and recommended by the Academy;
- To become independent and look for further investments by yourself.
It is expected that after staying in the Academy the projects will go to the next round with $1-2 mln after assessment.