16 Jan 2018

How to make your accelerator application stand out

By Matthew

With applications for our Spring 2018 programme closing in a few weeks time (February 5th at 23:59), we thought it’s a good time to share our top tips about applying for the BGV accelerator and what we are looking for.

When reviewing applications there are a number of things we are looking for. We want to see committed and passionate teams that are using technology to tackle significant social or environmental problems. By significant we mean that the solution has the potential to positively impact millions of lives. BGV invests in for-profit companies – impact is definitely important but we also want to provide strong financial returns for our investors. We don’t see impact and financial returns as mutually exclusive.

So we ask ourselves could this company be valued at over £50 million in 10 years time?

Teams that join the BGV accelerator programme are ‘early stage’, but that’s a rather broad term. Some applications we receive are unfortunately too early for us. For example they may just be at the idea stage, with no user testing and prototyping done. If you feel like you are too early don’t worry, we welcome applications every six months. And a lot can be done in six months to get your startup accelerator ready. On the other side of the coin, previous teams have joined our accelerator programme with tens of thousands of users and making significant revenues. We do however have recently launched our ‘Future of Fair Work Challenge’, looking for ideas focusing on tech solutions to support the work economy and shape the future of fair work. So if you’re idea fits the criteria, make sure to apply for our worker tech challenge

So, when filling in the application form on GUST please bear in mind what we are looking for in a team, in the problem that is being tackled, in the potential of the solution and the stage of the startup. And technology is of course important (our tagline is ‘investing in tech for good’ after all). We hope you are not put off by the application form. It is there for us to learn more about your venture and not designed to catch you out.

Last two tips. Keep your application jargon free. Even though you may be an expert in your field, just as testing your assumptions is good practice, don’t expect we know all the acronyms in your chosen field. Succinct answers are best – we review a lot of applications and you don’t want to lose our attention.

If you have any further questions please do not hesitate to get in touch at matthew@bethnlagreenventures.com. We also have morning drop-in sessions on Friday, 19th Jan. So if you want to discuss your application with us, sign up here for a chat with us. If you can’t make that session do get in touch and we will try to arrange a time to chat.

So what are you waiting for? Fill in our application form and join us in spring.