FAQs - Springboard Enterprises Australia Life Sciences Accelerator
What kind of companies are eligible?
Applications are open to all areas of Life Sciences including but not limited to: devices, med-tech, therapeutics, cell therapies, vaccines, digital/app monitoring and biotech.
Applications are accepted from women-led or co-founded businesses that have already passed proof of concept stage and by their very nature will disrupt the marketplace to achieve their potential as high-growth and high-return enterprises.
We look for:
- A woman in a key senior leadership position with a significant equity stake and/or decision making authority;
- A track record of milestone achievement, which may include: grants, clients, revenue, or partners;
- A compelling market opportunity with a defensible competitive advantage;
- A credible core management team or the ability to attract one;
- A willingness to invest back in Springboard and our network;
- All funding stages from seed to early stage (Series A) to late stage (Series B and beyond).
How do I apply?
To express your interest for our 2019 program please fill in our Expression of Interest form so that we can learn more about you and to ensure you are notified once applications are open.
When do applications open?
We are currently taking EOI's, you will be informed when applications open.
How do you select Springboard participants?
The screening process is conducted in two parts: an online screening and in-person interviews. Up to 10 companies can be selected for the program.
How much time is required?
The program involves:
- Pre-Bootcamp: homework preparation for Bootcamp;
- 3 day Bootcamp: full time commitment required including evenings as well;
- 8 week coaching program: although remote, several hours required per week;
- Dolphin Tank: in-person attendance for one evening.
What are the program fees?
Application fee: $100 (excl. processing fees). All applicants receive feedback on their company.
Program fee: $5,000 (excl. GST). No equity stake taken in your company and a lifetime access to the Springboard alumnae network.
What if I don't make it into the program?
Space is limited and the program is highly selective. We take the time to give detailed feedback to all applicants. If you are not selected we will suggest appropriate alternative programs or may encourage you to re-apply when further milestones are met. Select candidates not invited to participate in the program may be invited to attend Bootcamp as Observers.
What is an "Observer"?
Timing is everything and sometimes you may be right for the program but not quite at a stage that we feel you will truly benefit from it. Each year we invite such candidates to attend Bootcamp as an "Observer", which means that you attend but you would not pitch during the interactive Bootcamp sessions or be matched to a coaching team. Past observers have found this experience hugely beneficial.
When will I know if I have been selected?
After applications close, your application will be reviewed and we will determine who will be invited to participate in in-person interviews. Program participants will be selected within a few weeks following in-person interviews.
During the in-person interview you will be asked to pitch your company in front of a panel of industry experts both in Australia and the US (virtual participation). We will then open the room up to questions from the panel.
What can I expect from the in-person interview?
If accepted can I bring anyone with me to the Bootcamp?
All selected participants (excluding observers) are able to bring a colleague to Bootcamp. We suggest that you bring your co-founder or someone from your team. Our alumnae have said that they valued having someone there to take notes, network and better understand the experience. We do not recommend that participants bring family members and we do not allow participants to bring clients or potential clients.
What will I need to organise before attending Bootcamp?
You will be responsible for arranging flights and hotel accommodations during Bootcamp and any other in-person program events.
What happens after Bootcamp?
Bootcamp provides insights for us to assemble a personalised coaching team composed of Australian and US experts who provide input on business strategy and open doors to relevant connections and opportunities.
What is Dolphin Tank®?
At the end of the Coaching Program, we offer companies the opportunity to present at The Dolphin Tank® before an audience of investors, corporate executives and advisors. The Dolphin Tank® isn't about Sharks or competition - it's about channeling the expertise of the people in the room to provide support, constructive feedback and practical advice.
I'm not sure I'm ready for the accelerator program yet? What else is available?
If you are unsure about whether or not your company is a fit, please contact us at firstname.lastname@example.org. We can help you determine whether you’re eligible for our program, or if you aren’t quite ready, we can point you in the direction of other resources – whether it’s our E3 : Empower, Evolve, Escalate Program, or someone (or something) else entirely.
What are the key dates for 2019?
Will be updated shortly.
Who should I contact for more information?
If you have any questions about the Springboard Enterprises Australia Life Sciences Accelerator program, guidelines or deadlines, email us at email@example.com.