WXR Accelerator FAQ
What is the application timeline?
Applications are open until July 31st. Applicants will be notified of our decision by early September, and the accelerator program kicks off in mid-September.
Where does the accelerator take place?
All accelerator programming is virtual and/or remote, with no relocation or travel required.
Are there program fees or equity requirements to participate?
While there are no fees or equity requirements for participation, founders may decide to allocate advisory shares to WXR at the completion of the program.
Will WXR Fund invest in companies that participate in the program?
The WXR Fund may invest in Accelerator companies if timing and mutual interest align, however investment is not a guarantee of the Accelerator program.
Which industry or business model can apply?
We are seeking startups developing highly scalable applications in spatial computing (AR VR) and/or artificial intelligence (AI). All sectors and business models are eligible.
Is a company required to have a woman on the founding team to apply?
Since we generally work with very early stage companies, in most cases we look for at least one woman on the founding team. However, we will also consider teams with women in executive leadership who are not necessarily founders if women have a significant equity stake in the company and influence over the product. We also welcome companies with gender non-conforming leaders to apply.
How long is the program?
The accelerator is 3 months long, from mid September to mid December.
What are the elements of the program?
The accelerator consists of a strategic mentor from one of the hundreds of experts. In addition, virtual seminars and office hours including topics like fundraising, hiring, cap tables, market sizing, legal challenges. Pitch practice and virtual demo day with global network of investors. We expect the average time spent per week is approximately 1-3 hours. There are are additional opportunities such as conferences, speaking opportunities and other programs in addition to the accelerator program itself.
What kind of support will I get during the program?
1) Each founder participating in the program will be matched with an industry mentor. Matches will be curated according to each startup's needs, and the founder/mentor pair will collaboratively establish goals for bi-weekly sessions.
2) We'll offer periodic seminars with industry experts on topics such as fundraising, sales/marketing, company culture, etc. Topics will be chosen according to cohort needs and preferences.
3) We'll offer office hours with various industry experts for opportunities for additional one-on-one connections beyond designated mentors.
4) All participating companies will join a community of founders who have previously completed the program. Community benefits include speaking opportunities, media exposure, customer connections, and general knowledge sharing.
How is WXR Fund related to WXR Accelerator?
The WXR Accelerator and the WXR Fund are managed by the same teams and work in synergy, but are separate entities.
What makes a strong application?
The people behind the product are crucial. We like to see founders who are solving a problem about which they have a deep understanding and unique perspective. We like to see passionate and dedicated teams. We need to see how the solution will scale, so a significant market opportunity is important, as well as competitive defensibility. Revenue and traction are not required, although early traction will help make a stronger application. We welcome companies in the pre seed and seed stages.
What does the WXR Accelerator partnership with Verizon 5G Labs entail?
WXR and Verizon 5G Labs have teamed up to provide accelerator startups with cutting edge resources relevant to the 5G roll out. WXR will manage the accelerator selection process independently and collaborate closely with our Verizon 5G Lab partners on accelerator programming and benefits.
Can I apply if I'm a solo founder (it's just me!)?
Yes, but we highly recommend more than one person in your team. Building a company takes a team effort!
Do companies have to be based in the US?
Companies are not required to be based in the US.
Will there be a demo day?
Yes. A virtual demo day will take place in November with investors across the US and beyond.
What happens after the accelerator is over?
After completing the program, participating companies will continue to have access to the WXR community. If founders find value, we can enter into an advisory agreement with WXR with equity at the founder's discretion.
Can I apply even though my co-founder is male?
Yes! We are fully supportive of gender diverse teams - looking for at least one woman on the founding/leadership team that is an integral part of strategy and product.
Can I apply more than once?
One application per cohort, but if you've applied before, please apply again. We'd love to hear your progress!
Do I have to have a fully formed product?
Companies with an initial prototype or proof of concept are more likely to be selected.
Is there an attendance requirement?
This Accelerator programming is not very time intensive, and we do require that participating founders attend at least two seminars and demo day. We ask that companies invited to participate attend as much programing as possible to make the most of their experience.