Frequently Asked Questions
If you have any further questions, please don’t hesitate to contact us via email.
What types of businesses is the DBS Accelerator focusing on?
We are looking for technology-focused startups with a passion for innovation and lots of creativity, and who share our revolutionary vision.
How are the final companies chosen? What is the criteria?
Innovative, tech-savvy companies with cutting-concepts that could take bank services to a new dimension.
What role is DBS going to play in the DBS Accelerator and what commitment has it made?
DBS is committed to supporting entrepreneurs and startups. We will provide mentorship from carefully selected business leaders and entrepreneurs to help you develop your business. These mentors will be able to give you unparalleled advice in financial services, corporate sales, financial technologies, regulation, marketing, PR, pitching and more, to help you accelerate your company’s development.
Will all the mentors come from DBS itself?
No. Some will, but the majority will be a network of entrepreneurs and business leaders throughout Hong Kong and many are listed on the Nest website
What are the networking and educational opportunities provided during the programme?
You’ll be based in a centrally located office, so you’ll be surrounded by like-minded entrepreneurs and teams. This will give you an excellent opportunity to build strong working relationships, learn from others’ experiences and share your own. We will also provide access to a calendar of educational workshops happening across Hong Kong.
What if my company is not an expert at developing FinTech solutions?
We’re not looking for experts, just creative startups with a visionary attitude and inspiring ideas. You’ll get access to DBS and Nest’s experts in the field. All we ask is that you’re capable of building your own solution, have the drive to make it happen, and are focused on the potential of your startup.
What size company is DBS focusing on for this programme?
We’re focusing on startups the seed and Pre-A stages, so these tend to be small businesses or individuals, though there’s no limit to the size of the company applying. We’re particularly interested in FinTech solutions that can be quickly brought to market and ready for beta testing or launch at the Demo Days.
Is there an equity stake component for participation in the programme?
As part of the programme, Nest will sign an agreement that provides us the opportunity to invest in your company. The terms of this agreement will be negotiated on a case by case basis and will always be based on a mutually agreed upon price. We will not take a fixed equity percentage upfront, instead we will work with you to determine a valuation that you are comfortable with and appropriately captures your stage of development. Nest will only invest if at the end of the programme, we jointly feel that Nest can add significant value to your business. We understand the type of support you need and we are able to provide that support through our expansive network and our ability to market your company globally.
How can participants receive funding after the DBS Accelerator ends?
You’ll have the opportunity to showcase your products and services at Demo Day, where a range of potential investors, which may include venture capitalists and influential industry leaders, will see your proposition and listen to your pitch.
How does the application process work?
Interested startups can apply online through www.DBS-accelerator.com, which will direct you to a dedicated FS6 application page.
It includes a few simple questions about your company and your team. You’ll have the opportunity to include a video that describes your business.
How detailed does my idea need to be in the application?
In this initial application process, we ask applicants to describe market opportunity, the team, the concept that you want to take forward and how you plan to execute it. The more information you provide, the easier it is for us to assess the full potential of your business
Do I need to send in a business plan?
No, just complete the online application.
Is my age a factor in your selection process?
When is the deadline to apply and what’s the overall timeline?
Applications open on 7 April 2016 and the deadline for submissions is 5 June 2016. If you’re a finalist, we’ll notify you for acceptance by 30 June 2016. The timeline has full details, including the start and end dates of the programme.
Where is the DBS Accelerator office?
The DBS Accelerator office is located in Wan Chai, on Hong Kong Island
Do companies have to be on site for the entire acceleration period?
We recommend that you’re on-site as much as possible during the programme. The more immersed in it you are, the more you’ll gain. Although we appreciate you may need to occasionally work elsewhere, please be aware that participating companies won’t be able to take any DBS information or data away from the DBS Accelerator office. There may be other restrictions on what work can be taken off-site, to make sure our confidential information and intellectual property rights are protected.
Do participants need to be based in Hong Kong to take part in the programme?
If you are a spectacular company based overseas, we will be able to offer virtual participation for the programme, or Nest will cover the costs of your travel and housing for the duration of the programme.
Can I apply if our company or founders are not from Asia? Can you help with visa/immigration issues?
Anyone from anywhere can apply. If you’re accepted, you’ll need to have a legal right to be in Hong Kong. DBS/Nest may be able to provide working visas for successful companies for the duration of the programme. If this isn’t possible, we can put you in touch with agencies and services that can help you with visas and immigration, but we can only do this once you’ve been accepted into the programme. We encourage you to start this process as early as possible.
When are the Demo Days and who will be invited?
The Demo Days will be in Q4 2015. This will be by invitation only. We’ll invite key people from our strong network of industry leaders, investors, venture capitalists and press.
What will a typical day be like for a DBS Accelerator participant?
We’re pleased to say there’s no such thing as a typical day. Throughout the programme, you can expect somewhere in the region of 100 potential meetings with mentors, venture capitalists, CEOs, innovators and industry visionaries
Will DBS invest in my company?
DBS shall be invited to participate, without obligation to participate, in any fund-raising event, unless the equity investment by the bank creates a conflict of interest to the business or DBS itself.
What guarantees can DBS make to companies that get into the programme?
DBS will support companies that are accepted by providing mentors, visibility and engagement around business opportunities that emerge from this programme. You’ll also have the collective resources of NEST, both during the programme and afterwards.
Is a participating company’s product or service guaranteed to be endorsed by DBS?
No, there are no guarantees. It’s entirely at DBS’s discretion as to whether a participating company’s product or service is taken on and endorsed by DBS
What is Nest?
NEST is the leading full-service innovation accelerator platform in Hong Kong providing seed capital and expertise to entrepreneurs, empowering startups throughout Asia with a wide range of services.
Why did DBS partner with NEST on this programme?
DBS Accelerator is a ‘powered by NEST’ programme. This will be run by a dedicated team to help bring innovative business ideas to market. DBS has teamed up with NEST to run its model of mentorship, accelerated, intense development and world-class demo-days.
How to get in contact?
If you have questions about the programme, application, please do not hesitate to contact our NEST team.