1/ WHAT DOES NUMA PROVIDE?

In exchange for a 5% equity stake, each startup participating in the 4-month program will benefit from:

  • Weekly one-to-one meetings with an Entrepreneur in Residence
  • Office hours with Experts in Residence
  • Open access to 150 experienced mentors, entrepreneurs and industry experts
  • Indefinite access to NUMA’s workshops, tutorials and resources
  • PR exposure through NUMA’s corporate events and communication materials
  • Connections to investors through the Demo day at 4YFN and other investor meet-ups
  • Qualified introductions to our corporate partners thanks to Mobile World Capital
  • Introductions to NUMA’s international network of alumni, partnering accelerators and foreign offices (currently India, Russia, France, Mexico and Morocco)
  • 4-month free office space
  • More than 70 perks including free consultations with partnering accounting and law firms

The face value of these services amounts to approximately 767K€ per startup.
In addition to these acceleration services, NUMA provides a financial support of 30,000€ of convertible notes to startups when they join the program.

2/ HOW TO APPLY?

When to Apply

You can now apply to NUMA Barcelona Acceleration Program at any time. We’ll reply to you within 4 weeks. We have a continuous evaluation process, reviewing your applications and sending it to our experts for evaluations as soon as you submit it to us.

Each month, we conduct 1-to-1 interviews to meet the team and validate your acceptance to the program. The deadline you see on the website gives you the date and time of the interviews you’ll take if you apply before that date.

Note that startups accepted in the first round of interviews will get a personalized follow-up and pre-acceleration opportunities before the start of the season.

Note than you can re-apply a second time to another round of a same season.

Note that startups that submit early before the deadline have a significant advantage because we have more time to study their applications.

How is the selection done?

Only complete applications are evaluated. Applications are reviewed by NUMA team and sent to be scored by 3 evaluators. The score your project receives reflects various key factors of success including your team, experience, market and product. Depending on your score, you may be invited to participate in the finals. We are currently selecting 10 startups for this season, depending on the quality of applications we receive.

Dates for Season 1
SEASON 1 KICK-OFF: NOVEMBER 1ST

Selection Batch #1 – Deadline to apply: July 18th – Finals: July 25th
Selection Batch #2 – Deadline to apply : August 28th – Finals: September 1st
Selection Batch #3 – Deadline to apply : September 25th – Finals: September 28th

APPLY NOW

I'm concerned that if I apply, you won't protect my intellectual property

No you shouldn’t. NUMA is committed to protecting the confidentiality of the applications it receives. Rest assured, we have no interest in sharing your application with non-evaluating parties.

Do we need to write a business plan?

No, you don’t have to write a business plan. All you have to do is to fill out information about your business, the team, the market…

3/ WHAT’S THE SELECTION PROCESS?

One-to-One Interviews

During the interviews you’ll be invited to pitch in front of a jury of experts eager to know more about your project and your team. The pitch should last no more than 5 minutes followed by a 15-minute Q&A session. Obviously we’d much prefer meeting you in person at NUMA Barcelona. However should you not be available to attend in person, we can arrange a video-conference. Keep in mind that both connection problems and sound quality can end up impacting the presentation.

Results are usually communicated within a week.

Formal Agreement

If you’ve made it through the finals, along with our sincere congratulations you’ll receive an agreement detailing the program’s conditions and a bunch of legal documents regarding our future partnership. You’ll need to confirm that you accept those terms and conditions

Can I meet with you?
Unfortunately we can’t meet in person with every startup that wants to take part in the program. There are just too many. Essentially the NUMA application process is the way we decide which of them to meet in person.

4/ WHAT KIND OF STARTUPS ARE YOU SELECTING?

What kind of startups are you going to choose?

NUMA’s acceleration program is dedicated to early stage startups at the seed or early-growth stage. The program is focused on Mobile Technologies, but this means a lot of different things (mobility, AR/VR, AI, Fintech, etc.) so don’t hesitate to try anyway. Accelerated startups operate in a wide range of sectors which provides us with a wealth of industrial insights.

I'm a single founder. Can I still get accepted into numa?

Although the selection process isn’t narrowed to that single criteria, the team plays an important role in our evaluation. NUMA is looking for great teams with talented founders who have, or can attract, the core skills their businesses will need to be successful.

Finding the right cofounder can take a while and we don’t want you to spend the short time you have with us recruiting or looking for a partner. Remember, our job is to accelerate your business and we cannot do it unless the basic components are in place. We’ve seen too many well-meaning entrepreneurs with great potential either completely stuck with their project because no one could execute on decisions or burned out from carrying too much responsibility on their own.

If you’re solo, take this as your first challenge: convince someone that you’re an excellent business partner and that your project has great potential. If you can’t do that, how will you persuade your customers? If you’re not ready yet, consider taking some time to strengthen your founding team and apply for the following season. NUMA won’t disappear and there will be another chance.

We feel we're more advanced than other startups

We help early stage startups all along their journey to KPIs that are fundable by VC investors. Whether they are in the product design phase, market testing their product, growing their client or use base or even looking for VC funding. A number of startups we accelerate have a fully-developed product or generate revenues when they join the program. We work with them on their go-to-market strategy, business model, provide qualified introductions to corporates in our network or advise them on their funding strategy.

No matter where you’re starting from, we adapt to your needs and you will extract significant value from the program.

Does my company need to be incorporated before joining the program?

No, your company doesn’t need to be incorporated to join NUMA. This won’t influence in any way your application. Your company’s incorporation can be done at any point in time during the first 2 months of the program, and will need to be incorporated in either UK, US, France or Spain. Partnering law firms will be able to assist you with the paperwork.

However please note that NUMA’s 30.000€ can’t be provided until your startup is legally set-up.

I'm not Spanish; Can you help with visa issues?

Sorry, visa procedures are outside our area of expertise ! However we can introduce you to immigration agents previous startups have been working with or simply guide you to the relevant public institutions. If anyone on your team requires a visa for their 4-month stay in Barcelona you should start your visa application procedures as soon as your participation is confirmed.

5/ WHAT IS HAPPENING DURING THE 4-MONTH PROGRAM?

Do I have to be in Barcelona during the entire acceleration program?

Yes, we require you to be in Barcelona. Much of the program’s value hinges on your presence in town to attend events organised for you (scrums, coaching sessions, speed-dating with corporates…). Being physically close to NUMA will also allow you to leverage all the informal opportunities with our mentors, alumni, corporate partners, angel or VC funds which visit NUMA from time to time.

What is the demo day?

The Demo Day is the last event of the acceleration program. You’ll be provided with the opportunity to present your startup to a large panel of investors, corporates and journalists. The demo day will be held in 4YFN and will gather 500 influential professionals, including angel or VC investors.

Who are the experts?

NUMA works with a wide network of 150 experts with complementary profiles to ensure accelerated startups have access at all times to all the expertise their project needs. Those experts are either web entrepreneurs, industrial experts or specialists from one of those areas where educated advice does makes a huge difference, be it, product design, UX, marketing, funding or HR. During the first part of the program, you’ll meet with a lot of them to help you identify those mentors you both need and want to work with. Whilst some of them are seasoned and recognized professionals (Ali Partovi, advisor at DropBox, Facebook & Airbnb; Gary Shainberg, former Innovation Director at British Telecom; Luis Krug, founder at Redcoon; Jorge Carulla, MD at eDreams, Co-Founder at ShakeUp), name dropping doesn’t make sense. The most important thing is that NUMA is consistently looking for experienced people in different fields with a selective approach. And the match is up to you !

What is a technical partner?

We have +70 offers and promotions from a variety of partnering startups and corporates. Ranging from free pictures with Fotolia, cloud computing services offered by AWS Amazon, free access to recruitment platform… you name it !

What are the most famous startups that graduated from NUMA's program?

We’ve accelerated many great businesses since our beginning so it’s hard to choose! Some of our most renowned startups are french and include Mesagraph (acquired by Twitter), Sketchfab, DocTrackr, Bankin’, Zéro-Gâchis, Qunb (acquired by Ve Interactive), Artips, Lima, Agriconomie, Trip’n’drive, Infinit, Augment, Julie Desk, Soundsgood, Tiller Systems, StreamRoot, and Deepomatic, Birdly.

6/ YOUR AGREEMENT WITH NUMA

How much does the acceleration program cost?

The acceleration program is free and provided to you in exchange for a 5% equity stake in your company at the nominal value. It includes mentoring, access for life to our workshops and tutorials, office space for up to 3 people, access to our events.

We offer an additional 30 000 euros of investment in convertible notes that you can accept or refuse.

Do you take a 5% equity to all startups regardless of their evaluation?

Yes. The terms of NUMA’s investment and support are standard and apply to all participating startups.

What are the terms of NUMA's financial support?

NUMA provides a 30 000 euros convertible notes that you can convert at anytime. More info to come.

How does NUMA take 5% in the Startups accelerated?

NUMA acquires its equity stake from the founders at the shares’ nominal value.

Why acquiring shares and a shareholder loan and not different methods?

The mechanics of the share acquisition and shareholder loan, avoids tedious and costly administrative procedures required under French corporate law:

A standard capital increase typically costs a minimum of 2.000€ in legal fees and registration procedures ; Evaluating the program, which is part of our investment in your company, would require an external valuation intervention of an independent expert (“Commissaire aux apports”) which would cost an additional 5.000€.

Less importantly acquiring shares, as opposed to a standard capital increase, also avoids creating any valuation reference for your business which can create significant debate.

Do I have to accept NUMA's financial support?

No, obviously you are free not to take NUMA’s financial support. This money is here to help you get things started. If you believe that your startups doesn’t need it, by all means don’t use it.

Can NUMA invest through a traditional capital increase?

Unfortunately not. We have to provide fair and equal investment terms to all of the startups it accelerates.

What if I'm not happy with the acceleration program?

It’s fine for both of us if you decide to quit the program within the first 3 weeks. Indeed, during that time, both sides (NUMA or you) can unilaterally end up the acceleration protocol and this without cause or compensation.

Will NUMA help me raise funds?

Naturally. This is part of our role. Specific workshops are planned during the program to help you understand how to raise funds. We also organised meetups with investors to make sure you get exposed to them.

Our Investment Team will also sit down with you to review your financing options and guide you on the best way forward.

Can I attend NUMA's workshops, tutorials and mentor sessions after the program?

Absolutely. startups accelerated at NUMA now have access for life to all educational resources or events designed for startups.

What are my financing options after the program?

NUMA provides you with 30.000€ financial support to help you get things started. Most likely you’ll need additional funding after the program. On average 65% of our startups raise funds after the demo day. Since 2013, the round table of our graduating startups amount to 500k€ on average and is closed 8 months after program.

NUMA Barcelona owns a investment fund of 1,5M euros that gives us opportunities to top-up on chosen startups.