Why Kiwi Founders Choose Flux
Our founders spend the large majority of their time focussed on whatever they believe matters most — most commonly building their companies, selling to customers and developing a great product.
We know every startup is different, so avoid the temptation to prescribe certain “methodologies” or a shared recipe that everyone follows together. So, we asked our alumni why they choose Flux and these were the most common answers.
Building a global company is difficult. Alumni tell us they exploited the Flux opportunity to open doors to capital, customers and partners before their reputation and company brand were established in the marketplace. Our network are happy to take referrals because they’ve worked with us before and know we have a high quality bar — the acceptance rate for cohort 1 was less than 4% of applications
Our mentors volunteer their time, network and knowledge to help teams succeed. Many personally invest upfront in our teams, or at Demo Day after building relationships during the course of Flux. Our founders use this resource as much or as little as they need to succeed. We know by definition that startups are under resourced compared to the opportunity at hand.
The ability to bring in temporary firepower to solve problems fast or get perspective from someone who has ‘walked the walk’ previously can be advantageous for team.We bring in high quality individuals that have both relevant skills and experience for our teams to leverage to move faster and more informed. They come from diverse backgrounds and experience, composed primarily of
a) Founders who have built, scaled and exited high-growth companies
b) Execs or early employees at growth companies who played a defining role in their success
c) Domain Experts: Individuals with deep expertise in a valuable area for Flux Companies. Niche specialists (i.e. UX/Product/Culture/Growth-Marketing/Sales) or within specific industry (i.e FinTech, Hardware, VR, AeroSpace, AI, Ad-Tech)
d) Investors, who have played an active role in helping previous startups raise capital and grow
We want to help accelerate the best startups. Period. Our investment model is flexible so we can invest in a hungry young team with big aspirations as well as a seasoned management team with product in market and meaningful recurring revenue. We invest between $50,000 to $100,000 per team. Startups that hit milestones and seek to raise further capital benefit from an introduction to the wider Icehouse family of funds. Founders build relationships with our 150+ ICE Angel network, meet the Partners behind Tuhua Ventures (our $11m fund), First Cut Ventures, ArcAngels, Eden Ventures and upcoming Index Fund.
All Flux founders can choose to pitch to 400+ investors at our Demo Day in June. For teams looking for international investors, we can make warm referrals as required.
Building a startup can feel like it’s you against the world. Alumni of Flux and other accelerators consistently report that working alongside a cohort of other high calibre teams is invaluable. Teams tend to be working through similar challenges and great relationships are forged. Our founders also tap into the shared experience and connections from 100+ alumni startups we have funded via ICE Angels, Tuhua, First Cut, ArcAngels and Eden Ventures. Flux lives within The Icehouse loft in Parnell which shares a building with Xero, Uber and 90Seconds. The next Flux cohort will benefit from later stage teams in The Icehouse to meet and learn from. Notable current residents include Dexibit, Spalk, Spoke, IMeasureU (acquired by Vicon), 1Centre & The Social Club.
- 6 months free office space in our Parnell loft for your whole team with 6 meeting rooms, stocked bar, kitchen and games area.
- Deals with our technical partners at AWS who provide up to$100k in AWS Credits to each team.
- Free weekly legal check-ins and discounted services from Simpson Grierson
- A host of additional benefits from existing Icehouse partnerships with Hubspot, Stripe, Xero, AWS and more offered to Flux Companies.
- Templates we can share including pitch-decks, org-chart planning, Culture Docs, Term-sheets, ESOPs, Operating Dashboards, Investor Reporting + more. Our Alumni are happy to share and pool resources to help new teams where possible.
To anyone considering joining Flux 2018, connect with us on social or reach out to one of our alumni, mentors or firstname.lastname@example.org to find out more.
Applications close Dec 7, visit fluxaccelerator.co.nz to get started.
Flux ’18 Team