FAQs
General
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What is a “Venture Studio”? Is it the same as an accelerator?The R/GA Venture Studio is similar to an accelerator in that the program is cohort-based and time-limited, and also incorporates mentor input and culminates in a demo event.
However, we are differentiated from traditional accelerator programs in important ways. First, we apply our “creative capital” to the program, curating a team drawn from across the award-winning R/GA global talent pool to work specifically with your startup. These customized R/GA teams can include any of the capabilities found within the agency including strategic marketing, research, design, development, branding, and much more, and they do real work with your startup, not just offer advice. Second, we collaborate closely with our program partner Interpublic to provide additional opportunities for real-world expertise and network access for partnership and new business. Third, we are stage-agnostic and design our Venture Studio program to add value to both early and later-stage companies. Fourth, we focus on creating and preparing your company for successful partnerships, pilots, and new business opportunities in addition to capital fundraising opportunities.
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Is the R/GA IoT Venture Studio currently accepting applications?Applications have closed. Please follow us on Twitter at @rgaventures or subscribe to our newsletter at ventures.rga.com for updates on future programs.
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What type of startup is the R/GA IoT Venture Studio looking for?The R/GA IoT Venture Studio is looking for teams that are creating impactful connected products and services and are looking to build a business that can scale.
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How are the final companies chosen?Following the application deadline, each application will be reviewed by the selection committee and narrowed down to a group of 25-30 finalist teams. Each finalist team will be contacted for full team interviews with R/GA program leaders who will be looking for strong teams with products and services that have the potential for global product-market fit and scale.
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What role is R/GA going to play in the program?R/GA will leverage its capabilities in business strategy, branding, UX, visual design, technology, and marketing along with our broad client relationships to help the startups create successful businesses in the IoT space.
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What are the networking and educational opportunities provided during the Venture Studio?In addition to the R/GA staff experts and mentors, R/GA will organize a variety of one-on-one and group meetings, workshops, and presentations with mentors, entrepreneurs, angel investors, legal experts, venture capitalists, investment bankers, as well as others in a variety of forums.
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Will all the mentors come from R/GA?While R/GA will contribute some mentors from our staff, we will also leverage our extensive network of clients and industry leaders to support the program. Our program MD will work with each of our founders to select mentors who will meet their specific needs and business development opportunities.
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What if my company is not an expert in IoT?The R/GA IoT Venture Studio is focused on bringing all of the resources and talent required to create new applications, products, and services into one place. R/GA and IPG will provide strategy, design, technical assistance, guidance, and mentorship on your applications, products, prototypes, and sales pitches, but each company in the R/GA IoT Venture Studio must be capable of building their own product and/or service.
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Do I need to have a hardware product to participate?No, we are looking for strong companies that are building innovative products and/or services in the IoT/connected products space. If you do not have a hardware component, but currently have a software service in the IoT space, we are still interested in hearing from you.
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Do applicant companies need to be of a certain size or stage in order to be considered?Companies of any size or stage will be considered.
Application Process
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Is my age a factor in your selection process?No.
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Do I need to send in a business plan?No.
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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 idea and how to execute. We openly discourage applicants from submitting their business plans or "secret sauce."
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My company has already gained significant traction. Does this program make sense for me?Yes. The R/GA IoT Venture Studio is designed to help companies of all stages develop their brand, improve their product, identify partnerships, scale their business, and raise capital. Our program team will work with founders to create a prescriptive program plan that allows them to get the maximum value out of the program while continuing to run their businesses efficiently.
Logistics
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How does the application process work?The application process is online and includes a few simple questions about the company and the team behind it. Applicants are also asked to provide a video that describes their team and business.
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What will a typical day be like for a founder participating in the R/GA IoT Venture Studio?On any given day, R/GA may organize group educational sessions, one-on-one mentor meetings, R/GA services team meetings, presentation building sessions, or pitch rehearsals. Our programs are designed to be additive to your goals and we will work with you to set a schedule that supports your ongoing business development efforts.
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Does R/GA provide housing for the IoT Venture Studio participants?R/GA will provide a list of possible housing locations, but participants will need to make and pay for their own living arrangements.
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Can I apply if our company or founders are not from the UK? Can you help with visa/immigration issues?Yes, but companies already registered in the UK with be given higher consideration. Anyone from anywhere can apply. You do have to be legally in the UK during the program, of course. Once accepted, R/GA can help with legal/immigration issues by leveraging R/GA contacts and network. However, no assistance can be provided in advance of acceptance to the R/GA IoT Venture Studio.
Location
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Where is the IoT Ventures office?The program companies will be hosted at R/GA’s London office.
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Do these companies have to stay in London when the Venture program concludes?No, you are free to move your company to any location you wish after the program. In some cases, R/GA may accommodate startups that wish to continue working in the program space.
Funding
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Will R/GA invest in my company?In addition to the many program benefits that the startups receive, R/GA will also invest up to £75K in exchange for up to 6% equity. Deal terms will depend in part on the stage of each startup as well as the terms of funding raised previously by each startup.
The Accelerator model gives you the opportunity to pitch investors, venture capitalists, influential industry leaders, and R/GA executives and clients at the end of the program during a Demo Event.
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Does R/GA retain equity in the IoT Venture companies?R/GA is funding the convertible debt note available to each company accepted in the program. Each company has the option of taking this convertible note. If you do decide to take the additional funding, then R/GA will share in the equity of the company.
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How can participants attract funding during or after the IoT Venture Studio?During the program, R/GA will arrange meetings between the program startups and investors. At the end of the program, there will be a Demo Event at which the program startups will have the opportunity to present to an invited audience of angel investors, venture capitalists, and influential industry leaders as well as R/GA executives, clients, and key partners. After the conclusion of the program, RGA will continue to support the efforts of the startups to raise capital.