playbook : startup accelerator setup and operations
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Accelerator Setup and
Operations Feb 2016
2
Zinnov is a leading management consulting firm with a focus on helping organizations globalize their business
• Started in 2002 with a focus on helping technology organizations globalize their operations• Ranked amongst top 20 Globalization advisors 4 years in a row• Currently Headquartered out of Bangalore with operations in Silicon Valley, Houston and Delhi and virtual offices in China and Singapore
R&D Innovation Cloud SMB People
Engineering & IT Excellence
Charter Definition/
Planning
Transformation
Product/Market Definition
Globalization Accelerator Platform
Industry benchmarks & Frameworks
Networking opportunity
Thought leadership & on demand insights
Branding opportunities
Business Strategy & Expansion
Business Strategy
Account Management
M&A/ Operations Optimization
Customer Connect
Emerging Markets
Direct Sales Maximization
Channel Design and Monitoring
Solution Ideation
Opportunity Assessment & Go to
Market
Service Offerings
Evolution
Focus Areas
Customers
3
Zinnov is uniquely positioned in helping Amdocs think through all aspects of accelerator setup and program management
THE ZINNOV
ADVANTAGE
Zinnov is uniquely positioned to
help Amdocs in designing,
setting up and operating the
startup accelerator due to 3 key
factors that Zinnov brings into
the process.
Deep expertise in design, set up and
operations management of multiple
successful corporate acceleratorsEx.: Microsoft, PayPal, Pitney Bowes
Extensive ecosystem connects across
startups, industry organizations, GICsEx.: NASSCOM, iSpirt
Strong In-house team of experts who
specialize in entrepreneurship and
accelerator operations
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3
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Zinnov has helped design, establish, operate several successful corporate engagements with startups
GIC’s Maturity
Va
lue
Ad
dit
ion
fro
m S
tart
up
En
ga
ge
me
nt
High
Low High
• Scan for startups in key focus
areas for the organization
• Understand overall landscape
• Zinnov framework for
identifying high relevance
startups and modes of
engagement
• Identify intended accelerator
outcomes
• Onboard high relevance
startups
• Design curriculum and
execute program end-to-end
• Understand investment, M&A
philosophy
• Identify startups for investments
• Deep dive analysis to identify
startups for M&A
Investments
and M&A
Startup Scanning
& Scouting
Accelerator
Setup
Zinnov has worked extensively across the value chain with a wide array of clients
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Zinnov can perform a start-up scan to understand the relevant start-up ecosystem and then help in setting up an accelerator program, followed by investments and M&A assessment in future
Zinnov Offerings
Typically the startup scan is used as precursor for accelerator setup as well as for M&A identification. Zinnov can perform any of the
above mentioned offerings independently for Amdocs as well depending on the need
Year of
Establishment
Funding
Geographies
Product Types
Technology
Areas
Zinnov can provide companies with a detailed
understanding of the start-up ecosystem
across various cuts like:
START-UP SCANS
Industry
Verticals
Company
Relevance
Business Models
Zinnov can help companies in setting up and
operationalising their start-up accelerator and
provide support in:
START-UP
ACCELERATOR SETUP
Designing the accelerator offerings,
curriculum, program design, documentation,
selection & exit criteria etc.
Setting up of the facility and infrastructure,
fit-outs, communication hardware, IT
infrastructure etc.
Marketing events and promotional events
for the company to brand the start-up
accelerator program
Running day-to-day operations, sourcing
applications, shortlist & on-board start-ups,
manage curriculum & conduct reviews,
connect with external ecosystem, co-
ordinate with mentors etc.
INVESTMENTS AND M&A
Zinnov can help companies in identifying and
shortlisting potential startups for investments
and M&A by:
Understanding Investment, M&A
Philosophy
Startup Landscape Assessment
Target Identification for
Investments, M&A
Deep Dive and soliciting
connects with target startups
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01
03
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02 Designing and Setting up the Accelerator
03 Running the Accelerator and Program Management
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India hosts the 3rd largest base of start-ups worldwide with a healthy nexus of talent, financial capital, and policy/regulatory support to fuel innovation
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1 3 5
UK India Israel China
47,000 4,500 4,200 3,900 3,300
Tech. Driven Product/Digital Startups by Key
Countries
4
US
2
Strong Growth Indicators - India
Source: Startup India edition 2015 – NASSCOM & Zinnov, Startup Genome Global Ecosystem Ranking, Zinnov Research & Analysis
Notes: 1 Active Angel (or VC/PEs) is defined as an investor who has made at least one investment in 2015. Presented figures are for Jan-Sept 2015
Government Initiatives
• Improve Ease of Starting a Business
• State Government Startup Policies
• India Aspiration Fund
• Startup India Standup India
• Dedicated Startup Exchange
• Technology Business Incubator (TBI)
• Atal Innovation Mission
• National Knowledge Network
• CoE for IOT
VC/PE/ Angel Investors
Support Ecosystem
Startups Created Every Year> 800
Total Funding in 2015$4.9billion
Active VCs/PEs in 20151155+
Active Angels in 20151290+
Incubators/Accelerators103+
Startup Unicorn Club
40+Accelerators
33%Corporate
Accelerators
Bangalore and NCR are home to more than 50% of the start-ups and restof the cities are catching up
Technology Product/Digital Start-ups by Location
(Total = 3,100+)
Source: Zinnov Product/Digital Start-up Database
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4
2
5
6
3
IndiaBangalore: 28%
Delhi-NCR: 24%
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2
Kolkata, Ahmedabad, Cochin, Jaipur &
Trivandrum are the next emerging locations
eCommerce/ Aggregators
Big Data & Analytics
ERM/ ERP
Productivity & Collaboration
Education
Marketing & Advertising
India
IndiaMumbai & Pune: 21%
IndiaHyderabad: 8%
IndiaChennai: 6%
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4
5
Top 4 Focus Areas of Technology Product/Digital Start-ups by Location
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The global competitiveness of Indian technology start-ups is rapidly increasing
Global Success Stories from India
43% product/digital companies have focus on global markets
Set Up Pre 2000 Set Up Pre 2010 Set Up 2010 Onwards
Early Movers
• B2B Enterprise Products
• BFSI Vertical Focus
Growth Companies
• Enterprise Security
• Application Software
• Analytics
• Productivity
• Emergence of B2C
• Big Data & Analytics
• Marketing &
Advertisement
• Mobility
Source: Desi Products Videshi Markets: Indian Software Products Building Global Business – NASSCOM & Zinnov
• ERM
• Comm/Collaboration
• Cloud Computing
• Niche Use Cases
Young Start-Ups
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The incubators and accelerators have diverse themes and innovative models that are enabling startups at all stages to scale more rapidly
• Access to PB cloud SW API's &
Data during the program
• Discounted licenses after program
• Preferential support on Legal, IP,
accounting from PB partners
• Technical, design, UX &
business mentorship from PB
engineering leaders &
external experts
• Infra support from PayPal
• Access to service providers at
competitive and preferential rates
• Launched in Nov „13
• Part of PayPal CSR
program
• In partnership with TiE
Chennai Chapter
• Access to space, infra, R&D
expertise, and cloud-based
Progress Pacific dev platform
• Architecture/dev assistance
• GTM assistance
• Connect with investors/VCs
Overview AssistanceProfessional
DevelopmentNetworkingFocus Areas
• Technology mentorship from
eBay
• Business mentorship from
TiE
• Launched in Aug „14 at
Progress Software iLab
center, Hyderabad
• Launched the program in
Aug „14 in Bangalore
• In partnership with the
NASSCOM 10K team
• Cloud, Mobile,
Collaboration, Enterprise
SW infra, Networking &
the future workplace
• Access to working space • Mentoring from business
executives, industry leaders
and VC investors
• Launched in Jan ‟14, start-
ups are incubated in
Target‟s B‟lore office
• Launched in Apr „14
• In partnership with the
NASSCOM 10K team
• Launched the accelerator
platform in Jul „12
• NA
• Payments,
Recommendation Engine,
Analytics
• Search, Data, Mobile,
Content, Social
• Location Based Services,
Mobile, Analytics,
ecommerce management
• Cloud, Mobile, Internet
• Access to successful Indian
entrepreneurs, angel investors,
legal experts, VCs, investment
bankers, etc.
• Access to SW, dev tools & cloud
for free through the BizSpark &
BizSpark Plus programs
• Business & tech mentors from
MS and across industries
• MS provides technical training &
guidance on Azure dev
• Investor connect &
exclusive showcase
opportunity
• Access to tools, resources and
operational support • Access to mentors
The Progress Pacific
Incubator Program
Accelerators / Noida
Source: Zinnov Research and Analysis
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There are typically 3 degrees of value that corporates derive from engaging with startups –Branding/Talent, Innovation and Business Impact
Source: Zinnov Research and Analysis
Business ImpactDirect impact on business outcomes including revenues
Co-InnovationPromoting innovation around products & services, within and outside the organization
Branding & Talent SourcingEnhancing branding in ecosystem and attracting quality talent
M&A, Investment Opportunities
Joint go-to-market
Acquihire
Building new products & services around existing ones, increasing adoption
Promoting intrapreneurship and innovation within organization
Branding as an innovation-focused company
Attracting quality talent
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Success
Stories
• Microsoft Ventures made strategic investment in SkyGiraffe – a
platform to extend enterprise systems to mobile devices – which
graduated from Microsoft Ventures Accelerator in Israel
• Microsoft Ventures has also done seed stage investment in startups
like Ranku, an online education discovery engine and Zula, a mobile
productivity startup
• Target has signed vendor agreements with startups like Konotor & MuHive that
graduated from Accelerator Program
• Konotor‟s app. allows Target store managers to communicate with HQ on
product queries, pictures of stock outs can be uploaded and sent etc.
• MuHive‟s platform fits with Target‟s “Express” store format which is used as
delivery centers for orders placed on the e-commerce site. The platform
connects social feeds with Target‟s CRM software
Benefits of start-up engagement
02 Designing and Setting up the Accelerator
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03 Running the Accelerator and Program Management
01 Startup Landscape in India
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Design and setup of the accelerator would involve the following 8 step process
Vision and Focus
Strategic vision, focus areas, value
proposition and targets for the
accelerator
Startup Selection Criteria
How would Amdocs define the
criteria for selection of startups
Accelerator Offerings
Accelerator offerings by Amdocs in
terms of tangible and non tangible
benefits
Investment , Budgeting and Expenditure
How would the budgeting ,
investment and expenditure
planning happen
Legal, IP and ROFR Documentation
Clear set of guidelines while
engaging with the startups through
the accelerator
Media ,Communications & Events
How would the Amdocs accelerator
engage with media and PR firms
and how often would events happen
Partnerships
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3
4
5
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Design and Setup
Exit and Post program Support
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Partnerships with startup
ecosystem, vendors, etc
How will the Amdocs accelerator
engage with the startups post the
completion of the program
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Various activities needed to be carried out for the smooth launch and functioning of the accelerator
Month Number → 1 2 3 4 5 6 Ongoing
Phase ↓ Activities ↓
Pre Launch
Activities
Define Accelerator offerings & Curriculum
Securing Seed Funding/Grant
Create De-bonded Space with separate access control
On-board Program Management Team
On-board Jury for startup selection, Mentors, BU heads, SMEs, etc.
Partner Legal/HR/Technology/Investor connects
Create Micro-Websites
Selection of cohort
Define startup selection criteria
Call for Application
Startup selection process through Core Team and Expert review and F2F interview
Media releases, Startup interviews, blog-posts, etc.
Onboarding &
Accelerator
Program Delivery
Launch day and introduction to startups
1 week Bootcamp
Workshops ( business, design, technology, product management)
Networking Meets
Mentorship Sessions
Conference/Events
Delegate Visits
Review/Evaluation of Startups
Pitch Days
Demo Day
Post-Program
Activities
Enlist in Alumni Program
Post-program support
Startup Evaluation for further engagement
Marketing Marketing - Media coverage, Social media, Internal, Road Shows
Articulating the strategic vision and intent of the accelerator
The following questions need to be answered while
defining the accelerator’s vision and intent :
What are the business drivers for your
organization to work with startups?
How would the accelerator model help in
meeting these needs?
How can Amdocs differentiate itself in its
accelerator?
What value does Amdocs bring to
startups?
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Case Example
Objective of Target Accelerator Program
Vision is to help early stage startups develop concepts that could improve Target’s business and the broader retail industry
Through the four month intensive program, they focus on transformative and technology-driven ideas to create solutions for today’s rapidly changing retail environment
They would consider any startup which can better or improve the Omni channel experience for the customer. In line with their vision, Target has accelerated 10 startups in 2 batches, each of 4 months
Though the themes of 2 batches have been different, 7 out of the 10 startups have been integrated with the Target’s operations and technology, and the products are being used and tested across its major stores in the US.
Launched in Jan ’14
Startups incubated in Target’s Bengaluru office
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1
Articulating the strategic vision and intent of the accelerator
Organizations can focus on specific problem areas• Through selected startups , organizations can focus on solving real problems facing them which
might not addressed otherwise
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Collaborating for disruptive innovation• With access to new technologies, coupled with organization‟s own innovation culture and
mentoring, organizations have a chance of creating disruptive innovations
2
Exposure to employees • Helps promote and strengthen intrapreneurship, risk-taking, and out of the box thinking, as the
employees get a chance to mentor and work closely with the startups
3
Access to new markets • By collaborating with the startups , organizations get a chance to enter new markets with their
products/technologies
4
Promotion and branding of own technologies• Organizations get to promote their own technologies/platforms by offering them to startups for
free/subsidized cost
5
Accelerators / Noida
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1
Establishing focus of the accelerator
Does your vision/ intent require an
accelerator with specific focus, or a
broader approach?1
Why will the startups come to you
rather than other accelerators?2What will be your USP that will
attract VCs and investors?3
Corporate accelerators usually have a technology /domain focus which helps the startups derive maximum benefits from the
accelerator. While differentiating the focus areas from other accelerators, following questions need to be answered :
Corporate accelerators generally employ 2 models to define their focus areas:
Tight Focus Model Wide Angle Model
• The tight-focus model is designed to strengthen the core business of
the company sponsoring the incubator or accelerator
• Often targeting innovations in business adjacencies as well as the
core itself, the incubator or accelerator is located in physical
proximity to corporate R&D facilities to promote cooperation between
the R&D and incubation units
• Companies that are seeking innovation of any kind, regardless of its
proximity to the core business, generally opt for this tool and follow
the wide-angle model, which is designed to capture new thinking
across a broad spread of domains, especially mobile solutions, IT,
and Internet-based solutions
• Technology, media and publishing, telecommunications, and some
consumer goods companies often employ the wide-angle model
because their industries are fast-changing, and disruption can come
from virtually any direction
Accelerators / Noida
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1
Startup Selection criteria
Choosing the start-ups to incubate is one of the most important factors in the success of any accelerator.
Pursuing the wrong type of venture – those for whom the accelerator doesn’t have the means or networks to provide support, or those
without the potential to scale will spell failure.
Following are the key questions to be answered while designing your selection process:
What key criteria would you look for
in your startups?1How will you structure your
selection process to ensure you
find the right startups?2
Which other stakeholders could you
engage in the selection process?3
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Following are the typical steps in sourcing applications and selecting startups for an accelerator program:
Application Process Core Team Review
A B
Expert Review
C
Face to Face
Interview
D
2
Startup Selection criteria
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There are various methods for sourcing applications for startups. Applications can be sourced through third party start-up communities like f6s, gust.com, etc. or
through the accelerator‟s own website. Many accelerators also have tie ups with other early stage incubators like NASSCOM 10,000 Startups, Indian Angel
Networks ( IAN) incubator and various university incubators to source applications
Example: On an average a corporate accelerator receives 400-600 applications for each batch.
Application ProcessA
Zinnov maintains a database of 3000 start-ups in India across industries and has close tie ups with industry bodies like NASSCOM and iSpirit. We
have also done extensive research for companies on startup sourcing and shortlisting. Zinnov. through this expertise, would ensure that the Amdocs
accelerator gets quality applications as part of their sourcing process
Once the deadline for application submission has ended, the core team at the accelerator reviews the applications to shortlist about 10% of the total applications
received. Organizations need to set some set parameters like industry, team etc. for 1st level screening. A few of the parameters that the accelerators look for in
the 1st level of shortlisting include –
• Startup‟s alignment to accelerator vision and focus
• Team and opportunity
• Full-time founding team
• Team focus
• Team background and dynamics
• Prototype of the product
Core Team ReviewB
Zinnov through its research, would make additional information available on the startups and go through each application and ensure that only
relevant startups get shortlisted for the next round.
2
Every accelerator aims to provide the support and training necessary to grow its startups into market–ready ventures. A new accelerator needs to
consider its offering carefully – what will give it a unique selling proposition? And how will it best ensure that its startups are receiving maximum
support, information and advice? Before designing their program offerings , accelerators need to have answers to the following questions:
Accelerator Offerings
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Accelerator Offerings
What type of support and training would your
programme offer?1
What resources might you need to create your
programme package?2
Which networks could you tap into to attract high
quality mentors?3
How could you facilitate interaction between your
past and present cohorts?4
What potential networks or markets might you
have access to that could help your startups?5
Is there a large enough pool of potential acquirers,
or follow–on investors, in your accelerator area?6
Co-working space Technology Support Other Support
Customer and Investor Connects Mentoring and Guidance Funding
A B C
D E F
3
• Co Working space is offered to start-
ups to help them collaborate and
work together with the ecosystem
• Usually 2-3 seats are offered to each
startup at the location
• Stationary, lockers , coffee
machines, cafeteria are provided to
startups
• Services like conference rooms .
board rooms, etc should be provided
specifically for startups
• Other logistics like 2-3 big screen
TV‟s , projectors, and depending on
the scope of the accelerator, other
equipment is also provided
• Technology can form a big chunk of
cost for early stage start-ups
• Corporate accelerators generally
provide technology backend support
to startups
• Also ,companies try to promote the
adoption of their products and
services by startups, by providing
offerings to them for free or at
subsided cost
• Also, organizations offer generalized
tools around web development and
cloud for startups
• Startups also get support in terms of shared
services , design and product management
• Under these services the startups get access
to IT, HR , finance and legal support
• Accelerators have tie ups with legal firms and
accounting firms which offer their services at
a discounted rate to the startups
• Startups get to open zero balance corporate
accounts and also get help with their legal / IP
documentation
• Accelerators might have in house expertise or
engage external outside organizations in the
areas of design and product management .
• Some accelerators also offer interns from
business schools and design schools to
augment the resources of startups
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Accelerator Offerings
Co-working spaceA Technology SupportB Other SupportC
Zinnov has close connects with technology and design
schools across India and also has deep expertise on topics
like product management, which would enable the startups to
get quick support on these issues
3
• Accelerators should ensure that there a large enough pool of
potential customers and acquirers, or follow–on investors, in their
accelerator domain area
• Startups do not need investment alone, but also access to markets.
Successful accelerator programmes have, or can create, access to
key customer networks – both nationally and internationally
• Pilot studies are very important for startups to gauge the impact of
their MVP‟s and the use cases for it. Accelerators often help these
startups by letting them have access to few of their customers
• Organizations often take collaborative solutions to their customers
coupling startups products/services with their own
• Startups also often struggle to access networks of investors.
Accelerators attempt to cultivate strong relationships with investors,
not simply as providers of capital, but also as the right kinds of
investors who understand the investment landscape and who will
participate in their investments in the right way
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Accelerator Offerings
Customer and Investor ConnectsD
• Zinnov has connects with almost 400 MNC R&D centres across
India and also with various VCs and seed investment firms in
India and across the globe
• We would leverage these industry connections to ensure that the
startups , as part of the accelerator program, get adequate
exposure to major organizations and investment firms
3
One of the most valuable aspects of any accelerator programme is access to its mentor network. The creation and management of this
network is therefore crucial. Though assigning mentors to start-ups happens when the accelerator commences operations, setting up a
pool of mentors should happen in the planning stage itself.
Accelerator Offerings
Mentoring and GuidanceE
Zinnov‟s mentor network extends to top mentors in the startup ecosystem in India. Few of the partners at Zinnov with 20+ years of industry experience,
are on the board of various start-ups as well. Zinnov would make the best mentor network available to the start-up.
Guidelines for setting up a pool of mentors:
Background:
• Mentors preferably should come with
experience in running start-ups or having
considerable experience with
„intrepreneurial„ projects
• Mentors should also be selected from the
domains in the which accelerator wants to
specialize and select start-ups
Network:
• Mentors should usually have strong
connects in the start-up ecosystem
• Mentors should have the potential to
connect the start-ups to the right kind of
investors , potential customers and
technologists
Commitment to Accelerator
• Accelerators should make sure that mentors
can devote 8-10 hours of dedicated time in
a month to start-ups
• Start-ups need to get their progress tracked
continuously from their mentors on various
aspects
3
• Corporate accelerators don‟t take equity generally for them to be a part of their accelerator but they might provide follow on funding
depending on the valuation
• Startups generally use the funds in product development and setting up the initial team
• Depending on the potential of the startups the accelerator may acquire further stake in the company once the startup graduates from
the program, generally through its own VC arm
FundingF
Zinnov can organize various pitch sessions regularly at the accelerator to ensure that start-ups get visibility to various VC firms and also angel investors. 24
Investment, Budgeting and Expenditure
4
Program Manager
PEOPLE & PROGRAM
MANAGEMENT
TECHNOLOGY
& INFRASTRUCTURE
EXTERNAL
CONNECTS
FINANCIAL
INVESTMENT AND
OTHER COSTS
Key cost components for Operations
Ecosystem enablement manager
Legal and HR service providers
De-bonded zone creation with separate access control
Infrastructure facilities like meeting rooms, Wi-Fi access, printer,
telephone, internet, electricity etc.
Mentor (internal & external) connects
Customers / partners empanelment
Accelerator Program Investment
Grant per startup ($10k), 4-5 startups per batch, 2 batches in a
year
Stationery, F&B, Travel, misc. expense
Marketing / PR activity
Admin Manager
Sponsorships and Subscriptions (Tracxn, TiE, NASSCOM)
Demo days, Startup events
Professional Services e.g. Zinnov for start-up scanning,
benchmarking etc.
• Zinnov would
recommend Amdocs to
set up an accelerator
with 2000 - 3000 sq ft
of space and 5-8
startups per batch ( 2
batches per year )
• Setup cost for the
accelerator in terms of
IT infrastructure, fit-
outs etc, would be a
one-time cost of USD
100,000 (estimated)
• The total annual
recurring cost on an
average based on the
above would come out
to be USD 350,000 –
USD 450,000 (this can
vary widely based on
accelerator offerings,
size and number of
batches, internal and
external events etc)
** Based on Zinnov’s experience with MNC accelerators
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Legal, IP and ROFR Documentation
Zinnov‟s program management team would work with the startups in ensuring that all their legal documentation is in place and also ensure their
compliance to the local labor and company laws. We would also partner with external entities in various other tasks like incorporation of the startups,etc.
To make sure that Amdocs has adequate legal safeguards in place to avoid IP infringement and other issues, the Amdocs legal team would
have to incorporate the following points in their agreement with the participating startups :
• There would have to be a standard NDA signed between the Amdocs
and the startups . The NDA would include technology, business model
and partner related disclosures.
• Another legal instrument would need to be signed between Amdocs &
the participating startups relieving Amdocs of all 3rd party legal
obligations of the participants
Legal IssuesA
• There would be a 2 way, IP protection agreement is signed by both
Amdocs and the startups. Amdocs would have to ensure that the IP
protection is valid in both in India and other major Amdocs markets.
• The above stated legal instrument also would relieve Amdocs from
any IP infringement done by the participating startup.
IP Protection & SafeguardsB
• Right of first refusal is difficult to negotiate without equity investments
• Amdocs can have the “Right of First Offer” ( ROFO ) clause at the time
of the participation of the startups into the accelerator program. It would
give Amdocs the first right to invest into a participant startup. Amdocs
can match the valuation & terms being offered by outside investors, if
any.
• Amdocs may also include a co-investment clause, where Amdocs has
the right to co-invest upto 50% of the money being raised at near similar
or slightly lower valuations
• Amdocs can the rights of first refusal for post equity investments (Typical
min amount is $100K)
Investment RightsC
• Amdocs will not accept any participants that can be a direct
competition in the near future (Amdocs can have the finalists run
through Product Management for final approval)
• Amdocs will have first investment rights and co-investment rights for
a specified period
• Once invested, Amdocs will have a right of first refusal (ROFR)
against any sale to competitors
Risk of competition acquiring or investing into participantsD
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Media, Communications & Events
Media, communications and PR is an integral part of any startup accelerator. Zinnov will create a calendar of events and engage outreach
partners to help Amdocs create the right kind of PR, campaigns & visibility within Amdocs and also outside start-up community.
Media & Communications1
Zinnov would engage a full time Public relations and social media marketing firm to take care of media and communications for the Amdocs
accelerator. Zinnov and Amdocs would work with these firms to come up with a calendar of various activities and also the content to be posted on
various social media and traditional platforms
Media and Communications activities would be done in 2 phases:
This would include the set of media and communications activities that would generate buzz in the startup
ecosystem before the launch of the accelerator. This would ensure a good quantity and quality of applications.
It would be done at 3 levels
Pre-Launch Phase
In this phase, the communications would be around the progress of the start-upsOperations Phase
6
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Media, Communications & Events
Pre-Launch Phase Operations Phase
Startup Ecosystem:
• Zinnov would reach out to the various traditional and non-traditional media
in the start-up ecosystem. Online startup platforms Yourstory, VCCircle,
Inc 42, Techcrunch and social networks like Facebook and Twitter would
be leveraged to reach out to the start-up ecosystem in general. Mass
media channels like newspapers, business journals ( Economic Times,
Business Standard etc. ) would also carry articles and news items about
the accelerator launch
• The accelerator would also be evangelized through various start-up
ecosystem players like VCs, Incubators, angel investors, boot camps,
start-up meets and others
Internal Amdocs Employees:
• Employees at Amdocs would also be reached out, to apply at the
accelerator
• This would be done with the help of the corporate communications team at
Amdocs
• They would reach out to employees through their intranet, newsletter,
microsite, etc.
• Also ,they can put up posters and standees at various locations including
cafeterias.
Amdocs Stakeholders:
• Regular communication would be sent to the internal Amdocs stakeholders
before the launch of the accelerator
• They would be communicated about the inauguration of the accelerator and
also be invited to be a part of the inauguration ceremony
• In case, any of the start-ups have launched a product, secured funding, or
been admitted to any program outside the accelerator (e.g Google for
Entrepreneurs program), these events would covered in media and
communication of the accelerator
• Zinnov would launch a monthly newsletter as well which would cover the
various aspects of the accelerator and would be sent out to internal Amdocs
stakeholders and employees and also to the start-up ecosystem players
• For the demo day, invites would be sent to Amdocs stakeholders, VCs,
mentors, angel investors among others
• Members of the media would also be invited and this event would be
covered in a major way in the press
Zinnov has connects with the top media houses in India in both print
and TV , including Economic Times , Business Standard, ET
NOW etc. and would leverage these connects to get adequate
visibility to the Amdocs accelerator in all the phases.
6
29
Media, Communications & Events
6
Sponsoring major startup events around the country :
• Amdocs would sponsor at least 2-3
major startup events in the India
before inaugurating the
accelerator.
• A speaking slot would be useful in
evangelizing the whole concept of
the Amdocs accelerator to the
audience .
PR activities in leading
journals and media :
• Amdocs would need to do at least
2-3 PR activities in daily mass
media before the launch of the
accelerator
• Amdocs senior executives would
be quoted with their vision for the
accelerator and how this will
impact the startup ecosystem in
India.
1 2
Roadshows
• Amdocs would also need to do on
the ground roadshows in various
startup hubs in India .
• This would be done in partnership
with a BTL events company.
Coverage in Startups Media
• Zinnov would help Amdocs run a
series of articles on startups media
in India
• would help Amdocs get through to
the right target audience who
would be applying for the
accelerator program.
3 4
Following are the set of activities that would be executed 1-2 months before inaugurating the accelerator :
30
Media, Communications & Events
Events2
Zinnov will create a calendar of events and engage outreach partners to help Amdocs get good visibility in the startup ecosystem through events
Events will be done at 2 levels:
Month Number →1 2 3 4 5 6
Activities ↓
Pre Launch Events Accelerator Events
Pre-Launch Activities
Pitch session for accelerator
Accelerator Inauguration and introduction to startups
Workshops (business, design, technology, product management)
Office Hours
Networking Meets
Mentorship Sessions
Pitch Days
Demo Day
The objectives of these events would be to promote the
Amdocs accelerator in the startups community. These events
would be conducted across India in partnership with various
ecosystem players like NASSCOM 10K Startups, Startup
Weekend, Headstart, etc. Events like hackathons, tech
symposiums, award functions, mini conferences etc would
be conducted at regular intervals. They would start well before
the launch of the accelerator to create a buzz in the
ecosystem.
These events would be conducted to generate more
visibility for startups in the Amdocs accelerator. These
events could include Tech days, mentorship meetings,
pitch sessions with VCs or seed investors, fire side
chats, office hours and interviews with eminent
personalities from startup ecosystem and informal
gatherings to promote networking within the accelerator
and more.
External
Events
Accelerator
Events
6
31
Accelerator Partnerships
Zinnov will help Amdocs establish an optimal partner ecosystem to ensure the success of its accelerator program. Partnerships with the right
ecosystem players would ensure continuous support and also exposure to the startups. Amdocs can partner with the following ecosystem players
Vendor PartnershipsThese partnerships would include event management agency, PR agency, tie up for social media marketing and other suppliers at the accelerator.
E
Seed Investors & VCsAmdocs accelerator would need to partners with seed investors / angel investors / VCs. These partners would include both early and mature stage funding
organizations. These organizations would attend periodic pitch sessions and also the demo days where they will get a chance to interact with the start-ups.
Organizations in this category would include IAN, Mumbai Angels, Sequoia Capital, IDG ventures etc.
D
Technology PartnershipsAmdocs accelerator would also need to mentor with technology partners apart from Amdocs . These would include cloud infrastructure providers, microcontroller
chip companies, Software as a Service companies and more. E.g Amazon, Cisco, Oracle, Frescale, Texas Instruments
C
Mentor NetworkZinnov would help Amdocs create a pool of qualified mentors by partnering with leading industry personalities . Also , the internal resource pool at Amdocs would
also be leveraged in creating this network. External mentors networked would be leveraged from organizations like TiE, 1M/ 1M, Mentor Square, etc.
B
Other Incubators/AcceleratorsPartnering with the other incubators / accelerators is a great way of sourcing startups for the accelerator program. Lot of startups would want to join the Amdocs
accelerator after having graduated from other early stage incubators. Potential partner list in this category includes NASSCOM 10,000 Startups, Indian Angel
Networks ( IAN) incubator and other top university accelerators/ incubators
A
7
32
Exit and Post Program Support
The engagement of the Amdocs accelerator with the startups won’t end with the graduation of the start-ups from the program.
Amdocs can engage with the start-ups in the following ways on their exit:
The venture arm of Amdocs can invest in the
start-up based on the valuation that deems fit
at that juncture (could be follow on
investment or a first time investment)
AThe corporate acquisition team of Amdocs
can look at acquiring the startup B
Based on synergies with any product/service
at Amdocs, Amdocs can leverage the start-
up‟s products/services and look at offering
joint solutions to their customers
C
Amdocs can become a regular customer of the
startup and use their products internallyD
Amdocs can still be in touch with the startup for any
future engagement opportunity by forming an
alumni network for the start-upsE
On graduating from an accelerator programme, companies are still extremely young – potentially not yet viable for investment. Everything an
accelerator does is geared towards giving their cohorts the best possible chance of survival after graduation, so it makes sense that most
offer some sort of post–programme support to maintain or enhance startups’ investment (or even acquisition) viability for as long as possible.
Following are the key questions that need to be answered while designing the post program support:
How could you build and manage an alumni
network?1
What other post–programme support would you
have the resources to offer?2
Will you be able to offer follow–on funding? If so,
what criteria will you use for judging startup viability?3
What other ways might you be able to help your
startups secure follow on funding?4
8
Running the Accelerator and Program Management
33
01 Startup Landscape in India
02 Designing and Setting up the Accelerator
03
34
Running of the accelerator and the program management would involve the following 3 steps
1
2
3
Program Curriculum
Governance and Program Management
Key Operational Metrics
35
Setting up the program curriculum
Zinnov would help Amdocs create a detailed and in-depth 4 week course curriculum for its accelerator startups.
This program curriculum would include the following key features:
Lean Startup
This would help the startups develop skills and business practices to
effectively seize market opportunity. This would include parameters like
business model, strategy canvas, product features etc.
ADesign Thinking
This would help startups learn methods to explore and build empathy for
users to guide product features. Parameters included would be customer
interviews, product designs, sales personas, etc.
B
Platforms and Tools
The startups would receive guidance and mentoring to accelerate the
product development team. Parameters included here would be Platforms
and Tools, resource management, partnerships , etc.
CContent Marketing
Startups would Learn effective methods and strategies for acquiring
customers that stick. Key parameters covered here would be brand
building, customer acquisition, inbound marketing etc.
D
1
36
Governance and Program Management
Zinnov would be overseeing regular monitoring & control of the accelerator, which is aimed at driving periodic reviews during the course of
accelerator setup & operations. This would be a 4 step process:
Identify
• Identification of metrics that need to be measured
• Identification of baselines and end goals for each attribute
• Create a methodology to collect and measure the data
AMonitor & Measure
• Monitor adherence to accelerator setup plan
• Periodically collect metrics to compare with the proposed performance
measures
• Generate status reports and dashboards for key stakeholders
B
Process Adherence
• Evaluation of process adherence and compliance measurement
• Identification of gaps based on the data collected and industry best
practices
CRisk Mitigation Model
• Streamline feedback to PMO team for immediate course correction
• Continuous ongoing communication to maintain rigor
D
2
37
Key Operational Metrics
Metrics:
• Ratio of applications to selections
• How many and which all applicants were
not selected
• Percentage of rejection at each stage of the
process
• Maintain, in a CRM system, information on
the applicant founders and their team
members
• Tracking their progress of rejected startups
on Angellist, Crunchbase, and/or going
back to their web site in 3, 6, 12 months.
• Keeping a ratio of who is still in business
and what their status is.
Pre-ProgramSetting the baseline at the application process
A
In order to evaluate the success of an accelerator , it is important to track key metrics. Zinnov would track metrics for the Amdocs accelerator at 3 levels:
Metrics:
• How many startups have live products/
prototypes ready?
• Current customers and revenue per
customer (for most that will be 0 at the
start) that will work across revenue models:
CAC, ARPU, churn rate.
• Sales funnel – do they have leads? How
many? Are they qualified leads? What are
they worth?
• Average user growth in the last month.
• What mentors or advisors did they meet
through the program? What role did they
take with the company?
• Funding of startups – if any
• Addition in employee base post the joining
of the accelerator
In-ProgramMeasuring on the products and clients
B
Metrics:
• Is the startup still active or not?
• Customer growth percentage: CAC, ARPU,
and churn rate all expressed as percentage
growth.
• Sales funnel growth expressed as a
percentage.
• Average user growth each month
• What mentors or advisors are currently
active with the company?
• Any funding or follow on funding received
by the company?
Post-ProgramMonitor the graduates (Alumni)
C
3
Bangalore
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Bangalore-560 095.
Phone: +91-80-41127925/6
Singapore
Level 42, Suntec Tower Three
8 Temasek Boulevard
Singapore 038988
Phone:+65 6829 2123
Texas
21, Waterway Ave
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The Woodlands
TX-77380 USA
Phone:+1-281-362-2773
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10/F #1003,
11 Beiyuan Shuangying Road,
Chaoyang District, Beijing
China 100012
Thank You
Gurgaon Office:
First Floor,
Plot no. 131, Sector 44,
Gurgaon-122002,
Phone: +91 124 4420100
California Office
3080 Olcott Street
Suite A125,
Santa Clara, CA 95054
Phone: +408-716-8432
• Startup accelerators are fixed-term, cohort-based programs, that include mentorship and educational components and culminate
in a public pitch event or demo day
• Primary objective of a start-up accelerator is to speed up the start-up development through a combination of financial support ,
guidance and /or training
Definition of a Startup Accelerator
Characteristics of a Startup Accelerator
Accelerator
Programmes
Business
Mentors
Alumni
Networks
Venture
Capital
Funds
Angel
Investor
Founders
Incubators
Corporate
Partners
Pitch
Trainers
Follow-on funding
and growth capital
• Early Stage Capital
• Access to Markets
• Advice
• An application process that is open to all, yet highly
competitive
• Focus on small teams not individual founders
• Time–limited support, usually between three to six
months, comprising programmed
• Events and intensive mentoring
• Cohorts or „classes‟ of startups rather than individual
companies
What is a start-up accelerator
39
Classification of Accelerators
Venture Backed Accelerators• In this type of accelerator a group of investors from diverse backgrounds
come together to back an accelerator .These accelerators exist to provide
deal flow to investors
1
Government Backed Accelerators• These are usually established with the intention of improving the local
economic development. The government funds the accelerator and also
the startups who are part of the program, with or without taking equity
2
Corporate Backed Accelerators• Corporates set up accelerator programs to access outside innovation
• The start-ups invited to participate in the accelerator are usually on the
verge of launching revenue-generating activities, and the corporate
sponsor promotes their development by granting them access to office
space, technical support, high-quality mentoring, networks of other start-
ups, and funding sources
• India has 6+ corporate backed accelerators which have incubated more 60
start-ups till now
3
Accelerators / Noida
Classification of Accelerators
40
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