All those questions...(FAQ)
Which kind of startups does NMA love?
We have interest in early stage media-related startups whose product has to do with creation, consumption, distribution, storage and analysis of content or advertising. They also need to have a technological ground and be ready to scale.
Do I need to move my whole team to Hamburg?
At least the key core of your team must be in Hamburg for most of the time. One of the main benefits of the program is our community and our network. Many come always spontaneously to pay us a visit and you don’t want to miss that.
Can I apply as single person?
You can apply, but it is unlikely that we will accept you. We believe creating a successful startup is about teamwork. But we also believe in some serendipity from time to time.
I already run my company for quite some time, can I still apply?
Yes, you can.
What’s the best stage to apply?
You need to have more than only an idea. A prototype and some customers would be great. You can also apply in a later stage if our program brings you a strategic advantage but we never invest more than 50k.
We do not know how our revenue is developing, so what shall we put into the financial spreadsheet?
We want to see that you know how your market opportunities are. We are looking for companies looking for Venture Capital, so your expected revenues should match that. You are a startup – so don’t calculate everything on a monthly basis.
Can I only join the program at it’s starting points in September and February?
Yes, however if you have an interesting idea meet us for coffee. We take applications to review all the time!
Who will be my mentor?
That depends on your needs. You can have a quick look in our website to see the whole list of mentors associated to our accelerator and we can ping them anytime for you.
Do I get press coverage by dpa or nma’s other investors?
Not automatically. dpa has very strict rules on what they report, so do our investors. Being in the accelerator doesn’t bring you closer to coverage. But we have awesome mentor’s who will improve your PR skills and also do a lot of communication around the program.
Who are the investors?
Our investors are German publishing and advertising companies who are creating digital change in the industry.
Why do you do that?
next media accelerator was initiated by news and disruption loving people – two things that aren’t yet running together. Disruption can only happen without politics of big companies involved. So we got ourselves a bunch of very different investors with differing strategic business goals but the common goal: to innovate in media.
I heard Berlin is the startup place to be, why are you located in Hamburg?
We fairly believe in the importance of an ecosystem to startups. So Berlin is an awesome place to be for startups with a lot of international talent and a strong ecosystem. But as a startup you also need easy access to the industry – you can only get this in Hamburg. Hamburg is Germany’s media capital, with Berlin only a 90 minute train ride away.
Can I participate in your program after participating in another accelerator or incubator program?
Not with the same company or team. There is some new kind of accelerator hopping going on in Europe. We are pretty close to all major programs to avoid that. Still we believe in second chances. So please be honest about it.
Why do you have so many partners?
We believe that access and network enables startups to grow fast. So we are creating a Europewide community of media innovators. Our investors and nma are just the starting point.
Are you providing a place to stay in Hamburg?
We know it is not easy to find a flat or a room in Hamburg, especially short-notice. We are partnering with hostel groups in Hamburg to be able to get you affordable accommodation at least until you settle down and are prepared to look for something else.
Can I spend the investment on anything?
We don’t tell you what to do with the money but we want to know it. If you want to buy confetti and champagne for your release party we are probably not made for each other (but we promise to bring the confetti on our own anyway). You should invest the money in the things that help your product to get traction fast.
Do you decide who will invest next?
No. But we will help you find an investor.
How can I get in contact with you?
You can mail us, tweet us, meet us or our ambassador’s on events. It’s always best to find someone we know to introduce you, but you can also drop us a mail or tweet.