INNOVATING FOR TOMORROW

ClubsTHRIVE FAQs

ClubsTHRIVE FAQs 2019-03-06T11:25:54+00:00

GENERAL

Why is ClubsNSW doing this? 2019-02-20T14:20:41+00:00

The challenge for any large corporate is attracting and finding the best founders and ideas to work with. The ClubsTHRIVE accelerator allows ClubsNSW to develop innovative solutions in line with their strategy to benefit their customers and the community as a whole.

Who are Slingshot? 2019-02-20T13:58:58+00:00

Slingshot is Australia’s leading corporate accelerator program with over 160 Startups having completed our program. We’ve worked with clients such as Qantas, Caltex, News Corp, Lion Group, HCF, SEEK, Hudson, ING Direct, the NSW and QLD Government, the University of Technology and University of Newcastle.

What makes the ClubsTHRIVE Accelerator different? 2019-02-12T15:26:00+00:00

Most accelerators supply seed capital and a mentor driven program but few give Startups (and scaling businesses) the ability to work with the one thing that they all need; a large national partner like ClubsNSW. We’re offering the scale and national reach of our highly engaged members. With Slingshot, we also offer funding support and access to coaching and mentoring from industry leading experts.

What is ClubsNSW looking for? 2019-02-12T15:26:09+00:00

The ClubsTHRIVE Accelerator is looking for Startups and Scaleups with exceptional founders and teams. You have a unique insight to solve a big problem and you need a national partner to help you scale. Your solution addresses one of the key strategic opportunities we’ve identified for Startups and Scaleups to collaborate with ClubsNSW. In order to participate in the ClubsTHRIVE Accelerator, your application must address one or more of these themes.

Should I apply for the ClubsTHRIVE Accelerator? 2019-02-20T14:25:33+00:00

Absolutely, this is a unique opportunity to collaborate with ClubsNSW and Slingshot with access to:

National Brand
Gain access to the scale and national reach of ClubsNSW, and our deep knowledge of our highly engaged members. We want you to succeed, take this opportunity to fast-track your business development and expedite your path to a commercial and or investment deal with ClubsNSW.

Mentors
We provide access to guidance and mentorship from ClubsNSW and industry leading experts. Their role is to support and challenge your team and you will be matched based on personality, industry and acumen.

Insights
The diversity of ClubsNSW offers unrivaled member and commercial insights to help scale your business.

Investment
Startup participants receive up to $150,000 of funding. At Demo Day, both Startups and Scaleups have the opportunity to pitch to ClubsNSW, Slingshot and global investment partners to gain additional investment.

Network and Partners
Something often overlooked is acquiring great business relationships for your company early. Teams will gain access to ClubsNSW and Slingshot’s extensive partner community. Scale quickly with access to up to $500,000 of additional value from industry leading program partners.

Branding and Media
ClubsNSW and Slingshot will provide your company with branding and marketing support with inclusion in ClubsTHRIVE Accelerator media and events.

What access will I have to customer insights and data in the program? 2019-02-12T15:24:42+00:00

ClubsNSW will provide relevant elements of business and market data to accelerator participants to allow them to pilot and test hypotheses, as required.

Will ClubsNSW or Slingshot own my IP? 2019-02-12T15:25:38+00:00

No, you will own all of your IP.

Do I need to be full time on my Startup / Scaleup? 2018-02-05T15:40:05+00:00

Yes, it is preferred but we are open to businesses with one founder who are well supported and have access to resources.

When do applications close? 2019-02-12T15:27:06+00:00

Sunday 7 April 11.59pm (AEST). See Participant Journey for key dates.

When will I be notified if I am shortlisted to pitch? 2019-02-20T14:03:50+00:00

You will be notified within approximately seven days of the application close date. Please keep in mind you will need to be available to pitch Tuesday 30th April or Wednesday 1st May 2019 at the Sydney Startup Hub if you are shortlisted.

When will I be pitching if I am shortlisted? 2019-02-20T14:05:02+00:00

Tuesday 30th April or Wednesday 1st May 2019 in Sydney. This pitch must be done in person. We do not accept video or Skype pitches. You might consider sending an alternate person to pitch if you are not available but we recommend putting your best presenter/s forward.

When does the program start? 2019-02-12T15:28:35+00:00

Monday 13th May 2019. Shortlisted Startups will be invited to participate in a two-week validation sprint (in Sydney) where successful Startups will be selected for the accelerator program at the end of the sprint. See Participant Journey for key dates.

I’m not sure if I should apply as a Startup or Scaleup? 2019-02-12T15:30:09+00:00

You should apply as a Startup if you:

  • Have an exceptional founder with national aspirations and unique insights into solving a national problem
  • Have a great product or service but need support to gain customer traction, revenue and product/market fit
  • Need immediate funding (pre-seed and seed stage) and the 12 week mentoring and education program
  • Can deliver a minimum viable product (MVP) to ClubsNSW within three months

You should apply as a Scaleup if you:

  • Have an exceptional, committed and stable team
  • Already have differentiated product with market fit, existing customers and recurring revenue
  • Do not need immediate funding (late seed and Series A+) and the 12 week education program
  • Can deliver your product or service to ClubsNSW within three months
  • ARR of >$500K, growing 100%+ YoY
I’m neither a Startup or Scaleup, what should I do? 2018-02-05T15:40:04+00:00

Often that means you’re a Startup. If you truly believe your Startup is neither a Startup nor Scaleup, you can apply to both programs and we will evaluate the best fit.

I need more information. Where can I get it? 2018-02-08T13:55:56+00:00

If this site hasn’t already answered all of your questions, please reach out to contact us via the Contact Form.

Can NFP’s or social ventures participate in the program? 2019-02-20T14:01:59+00:00

Given ClubsNSW’s deep connection to community matters and projects, there is opportunity for NFP’s and social ventures to apply under the ‘Community Projects’ section. If a community project  aligns to one of the program themes and there is a potential commercial fit, then the project will be provided funding of up to $10,000 as well as access to the program curriculum and activities. This also allows the community project founders to leverage all the other value such as mentors, media and branding and connections.

STARTUP ACCELERATOR PROGRAM

What is the ClubsTHRIVE program like? 2019-02-12T15:32:31+00:00

Intense. 12 weeks is not a long time. You will be part of a cohort of other hard-working Startup founder teams. You will be immersed in the 12-week program and engage with the best mentors to guide, support and challenge you. You will be exposed to investors, partners, sponsors and media, with opportunities to network and pitch at events throughout the program. At the completion of the 12-week program, select teams will receive additional support to continue to build your business in a further 12-week incubation program. At the end of the program, Startups have the opportunity to secure next round investment from ClubsNSW, the Slingshot Venture Fund and our investment partners.

Where is the Startup program located? 2019-02-12T15:32:52+00:00

The program will be run at the Sydney Startup Hub above Wynyard Station where your team will receive desk space for the duration of the 12-week program.

What time commitment is there? 2019-02-12T15:33:27+00:00

The program runs for a 12-week duration. During the program, you should allocate 2 days per week (likely between Monday-Wednesday) of face to face time with the dedicated Slingshot and ClubsNSW team and your mentors, as well as attending events. The other 3 days you should commit to building your business and seeking to aggressively attract revenue, customers and growth.

How much investment does my Startup get? 2019-02-20T14:07:52+00:00

Seed Investment

Slingshot will provide an initial upfront investment of $50,000 for 10% equity in your business.
Note: There are no hurdles to accessing this funding, all Startups who successfully complete the validation sprint and accept the offer into the program will receive $50,000. 

Follow on from Slingshot

Unlike other programs, ClubsTHRIVE offers the potential for a further $100,000 of follow-on funding from the Slingshot Venture Fund. To access this funding, you will need to receive follow-on investment from three or more investors. Importantly, the follow-on funding is at a valuation set by your Startup with no discount.

Follow on from ClubsNSW

ClubsNSW may look to invest in select businesses after the completion of the program. Any investment by ClubsNSW is at a 25% discount of the price of the share on offer during a qualifying capital raise.

Is the program flexible on investment terms? 2018-02-05T15:42:17+00:00

The program is open to flexible investment terms on a case by case basis. The case would need to be extremely strong as to why the terms should change.

What collaboration opportunities are there with ClubsNSW? 2019-02-12T15:36:11+00:00

During the 12-week program you will have the opportunity to work with ClubsNSW management. Depending on your business model and traction, further opportunities may be explored.

Potential outcomes may include:

  • Investment by ClubsNSW in your business
  • A pilot or trail with our people or members
  • A commercial distribution agreement for your product or service
  • A vendor relationship where ClubsNSW will use your product or service
  • Introductions within the ClubsNSW community
Can my Startup only have one team member? 2018-02-05T15:43:11+00:00

We don’t encourage single founders but will consider you if you can demonstrate you have access to the resources you will need to grow your business quickly during the 12-week program.

What happens post program? 2019-02-12T15:37:02+00:00

The Slingshot and ClubsNSW team will provide qualifying teams with another three months of support post program. This support includes further developing partnering opportunities with ClubsNSW as well as help with capital raising.

SCALEUP PROGRAM

What is a Scaleup? 2019-02-12T15:37:24+00:00

A Scaleup is a business that has a proven team, differentiated product with market fit and existing customer base with recurring revenue. You are late seed and Series A+, have demonstrable traction (ARR of >$500K, growing 100%+ YoY) and are looking for a global partnership to scale. You must be capable of delivering a solution to ClubsNSW within three months of commencing the program.

What is the ClubsNSW Scaleup program? 2019-02-12T15:37:47+00:00

Most great Startups fail despite having a talented team or excellent product. The challenge is in scaling their customer base, generating revenue quickly and raising capital. The ClubsTHRIVE Scaleup program wants to help these businesses scale by collaborating with ClubsTHRIVE and their targeted communities.

Why would a Scaleup apply? 2019-02-12T15:38:32+00:00

There are a few reasons you might want to apply:

  • Your business could benefit from a commercial relationship with ClubsNSW
  • You might be stuck and the momentum of the early days of your business has stalled and you may lack the resources to get over the next hump
  • You are a world class business looking to add a large customer to your portfolio
  • You have a great product and business and see an application for it within the promoted themes without having to do much development work
  • Feel part of something bigger by renewing energy and enthusiasm in working with a potential client like ClubsNSW and the other founders in the program
I’m a Scaleup, so do I need to participate in the Startup accelerator program? 2019-02-20T14:13:08+00:00

No, we anticipate your business is past that stage and you already have the knowledge, product, customer base and revenue in place. You will still have access to all the Startup benefits of curriculum, mentorship and additional program value but specifically as you need them. You will need to attend some key events throughout the 12-week program (commencing 13 May 2019 in Sydney) and will be informed upfront.

What is the Scaleup program looking to achieve? 2019-02-12T15:40:01+00:00

The Scaleup program consists of a limited series of face to face meetings with the ClubsNSW team and relevant executives. The aim of the program is to achieve a commercial partnership between ClubsNSW and your business. Importantly it is a quick YES or NO process, we call it the “Five meetings to NO” process. We understand dealing with a large corporate can be time consuming so the process is designed to get to an outcome as quickly as possible.

Potential outcomes may include:

  • Investment by ClubsNSW in your business
  • A pilot or trail with our people or members
  • A commercial distribution agreement for your product or service
  • A vendor relationship where ClubsNSW will use your product or service internally
  • Introductions within the ClubsNSW community
Where is the Scaleup program located? 2019-02-12T15:40:31+00:00

The program consists of a number of workshops and events at the Sydney Startup Hub above Wynyard Station and potentially at the ClubsNSW head office in Sydney CBD.

What time commitment is there? 2019-02-12T15:40:52+00:00

The program consists of a number of engagements with Slingshot and ClubsNSW executives. The program is designed to limit the number of face to face meetings required to get to a commercial agreement that is mutually beneficial.

How much investment does my Scaleup get? 2019-02-12T15:41:17+00:00

There is no upfront investment in your Scaleup and no equity taken for program participation. ClubsNSW will closely consider an investment in your business.

What is a Scaleup? 2019-02-12T15:37:24+00:00

A Scaleup is a business that has a proven team, differentiated product with market fit and existing customer base with recurring revenue. You are late seed and Series A+, have demonstrable traction (ARR of >$500K, growing 100%+ YoY) and are looking for a global partnership to scale. You must be capable of delivering a solution to ClubsNSW within three months of commencing the program.

What is the ClubsNSW Scaleup program? 2019-02-12T15:37:47+00:00

Most great Startups fail despite having a talented team or excellent product. The challenge is in scaling their customer base, generating revenue quickly and raising capital. The ClubsTHRIVE Scaleup program wants to help these businesses scale by collaborating with ClubsTHRIVE and their targeted communities.

Why would a Scaleup apply? 2019-02-12T15:38:32+00:00

There are a few reasons you might want to apply:

  • Your business could benefit from a commercial relationship with ClubsNSW
  • You might be stuck and the momentum of the early days of your business has stalled and you may lack the resources to get over the next hump
  • You are a world class business looking to add a large customer to your portfolio
  • You have a great product and business and see an application for it within the promoted themes without having to do much development work
  • Feel part of something bigger by renewing energy and enthusiasm in working with a potential client like ClubsNSW and the other founders in the program
I’m a Scaleup, so do I need to participate in the Startup accelerator program? 2019-02-20T14:13:08+00:00

No, we anticipate your business is past that stage and you already have the knowledge, product, customer base and revenue in place. You will still have access to all the Startup benefits of curriculum, mentorship and additional program value but specifically as you need them. You will need to attend some key events throughout the 12-week program (commencing 13 May 2019 in Sydney) and will be informed upfront.

What is the Scaleup program looking to achieve? 2019-02-12T15:40:01+00:00

The Scaleup program consists of a limited series of face to face meetings with the ClubsNSW team and relevant executives. The aim of the program is to achieve a commercial partnership between ClubsNSW and your business. Importantly it is a quick YES or NO process, we call it the “Five meetings to NO” process. We understand dealing with a large corporate can be time consuming so the process is designed to get to an outcome as quickly as possible.

Potential outcomes may include:

  • Investment by ClubsNSW in your business
  • A pilot or trail with our people or members
  • A commercial distribution agreement for your product or service
  • A vendor relationship where ClubsNSW will use your product or service internally
  • Introductions within the ClubsNSW community
Where is the Scaleup program located? 2019-02-12T15:40:31+00:00

The program consists of a number of workshops and events at the Sydney Startup Hub above Wynyard Station and potentially at the ClubsNSW head office in Sydney CBD.

What time commitment is there? 2019-02-12T15:40:52+00:00

The program consists of a number of engagements with Slingshot and ClubsNSW executives. The program is designed to limit the number of face to face meetings required to get to a commercial agreement that is mutually beneficial.

How much investment does my Scaleup get? 2019-02-12T15:41:17+00:00

There is no upfront investment in your Scaleup and no equity taken for program participation. ClubsNSW will closely consider an investment in your business.