FAQs for Website
The ProVeg Incubator is a first of its kind program to cultivate and support emerging startups reducing animal product consumption.
We have a preference for companies innovating with plant-based and cultured animal products but support other app-based and e-commerce solutions.
The ProVeg Incubator will give entrepreneurs the workspace, network and resources to support the disruption of animal based products.
The ProVeg Incubator program, in addition to expertise in the plant based industry, has one significant difference from other incubators: It takes no equity in exchange for its help.
In support of the ProVeg mission, 50by40, an incubator is the most effective tool to create awareness about plant based food alternatives to more people. ProVeg understands the challenges of the food industry and our program helps startups become investor ready and impact the market. The ProVeg Incubator provides the support and guidance needed while connecting startups with the appropriate network; which ranges from food producers, investors and distribution. Within an incubator, synergy inspires every decision- fueling empowerment, inspiring like-minded people and creating ideas that are certain to thrive.
ProVeg International’s connection to the industry for over a decade has help to expand the plant-based food system. The partnerships established within the industry will help startups with marketing, testing, development, distribution, retail and investment. Our partners include food producers, restaurants, catering firms, and canteens, as well as lawyers, investors, health insurance companies, and the medical community. Our Corporate Outreach team consists of experts in communication, food production, consulting, catering, and startups, as well as product development and certification.
We are considering startups from anywhere across the globe, but our headquarters and networks are based primarily in Europe. We look for strong teams and ideas capable of large impacts, hence we do not limit our selection criteria geographically.
At ProVeg, we support clean meat because it aligns with our 5 PROs of Health, Animals, Environment, Justice and Taste and supports our 50 by 40 mission. To read more on the ProVeg stance, please click HERE.(Link to a full page description on stance)
The incubator program is 16 weeks long and divided into three phases: Validate, Develop, and Grow. Each phase has a goal for the startups to achieve and prepare for the next phase and ultimately scale.
In the Validate phase, a startups expand their network and really refine their strategy, target and business model. These are the foundations of a successful business and requires a lot of vision, planning and goal setting. The 4-week phase benefits seed startups in our incubator with a fresh product/idea and sets the ground for the Develop phase.
The Develop phase is the 4-week phase that all startups enter to test and develop their product. This includes a deep dive into products features and fine tuning with the help of mentors and public feedback. This also includes the pitch practice and pitch night to get investors and founders ready to match in the final phase.
The final phase in the incubator is the 8-week Growth phase. This phase aims to push the values of startups to the forefront, testing their go-to-market strategies to scale. This phase involves investors, partnerships with distributors, influencers, team building and pivoting the initial strategy to incorporate all the resources available for success.
The 16-week program design is for seed startups and established startups to benefit the most from ProVeg and the network. Our goal is to see businesses succeed and ultimately support our 50by40 mission. Research and planning of the mentor selection, partnerships, investors and program structure is to ensure a positive relationship with ProVeg does not end here.
Post incubation emphasizes the support and guidance that will be available to our incubator batch after the program. We encourage all of our startups to maintain and update the relationship built with ProVeg Incubator. Together we will reduce the consumption of animal products.
To receive the most out of the ProVeg’s network and resources, we encourage all applicants to relocate to Berlin. Of course, we understand that startups will need to travel so we allow flexibility for this.
We will have two cohorts per year running at 16 week long sessions. The first incubator cohort program begins on November 5, 2018. Applications are accepted on a rolling basis, so if a deadline is missed, there is opportunity to join the next batch.
The application process begins with startups submitting an online application. Once received, our team will review it as soon as possible. If the application is a good match, the incubator team will interview the applicant. Following the interview, the application is analyzed in depth and if it is a good match, they present to our expert panel. In this final step startups present to our experts for roughly 20 minutes followed with Q&A. If the applicant surpasses all phases we accept them into our program and offer introductions to investors.
The difference between an incubator and an accelerator depends on the stage of the businesses they support. Incubators support seed startups in early stages who plan to grow with a vetted plan while validating their ideas. Accelerators work with early or mature startups companies with a focus on rapid growth and connection to networks and financing.
The ProVeg Incubator operates both as an incubator and an accelerator, meaning we support both seed and mature startups. The program is tailor-made based on the startups accepted, which is why an intensive selection process is in place. Our incubator unique and specialized environment ensures dedication to make the right idea scale.
If your startup is not selected for the program, we encourage synergies and connection with other resources at ProVeg. You are always welcome to apply to the ProVeg Incubator’s later batches.
If you still have questions please feel free to email us at: Incubator@proveg.com
APPLICATION CRITERIA FAQs
What are the criteria for consideration in the program?
In order to be considered for the program, a startup must have three main criteria:
- A marketable product or service that aligns with our 50by40 mission
- A challenge that we can help solve
- Something scalable
What if my company is very early stage?
If your company is starting at a very early stage we encourage you to apply to the ProVeg Incubator. The purpose of our incubator’s validate phase is to provide the right tools and resources to develop a scalable business model.
How far along does my company/idea need to be in order to be eligible?
Will any financial assistance be offered?
Once accepted into the incubator, your company does not pay any fees to ProVeg. Once your idea and pitch is developed throughout our program, the opportunity to gain financial investments is offered on our pitch night.