FAQs
Frequently Asked Questions
What does the Minerva acceleration program consist of?
Each edition of this program is different, as we tend to adapt and improve the acceleration itinerary to offer the best we can to entrepreneurs. To learn more in detail what is done in each edition, the best thing you can do is to consult the rules and requirements of the current edition.
If I want to take part in Minerva. What do I have to do?
The program is an intensive acceleration for selected ICT projects lasting approximately one year. If you want to participate, you must submit your technology-based business project during the period available for it.
What kind of methodology is applied to validate the business model at Minerva?
We apply the Lean Startup methodology to successfully achieve the main object of the business block work, which is as simple as the project validates its business model and will consequently be able to achieve certain traction. By the launching and executing of the experiments, the project will confront the market with the most critical hypothesis of its business model. Thus, validating or disproving them on the one hand, or ratifying and pivoting the model, on the other. If you´ve never heard of Lean Startup, don´t worry! Throughout the whole process, you will learn everything you need to carry this out.
What kind of projects is this program looking for?
Minerva is looking for innovative and technology-based projects. Our focus is on projects that offer a solution to an existing problem or propose different way of doing something. They need to be clearly business-oriented and should have or develop at least, a pre-commercial functional version of the solution they have in mind within the duration of the program itself (approximately one year). The business project can be either in an earlier or more advanced stage, it is not a fundamental requirement that the project should be already underway.
How and where is the program developed?
Minerva is a program designed to cover Andalusian projects from any province. The 2021 edition is being developed 100% online. The work can be easily carried out remotely without any problems and with every facility. In case there is a special need to travel at some point during the acceleration, projects coming from a different region have a transport voucher system, in other words, a financial aid to meet the travel expenses.
Is it necessary to have a team?
We encourage to form an adequate and committed team, as this is precisely an aspect that is going to be evaluated during the selection process. You should keep in mind the fact that Minerva requires a considerable pace of work, so it may be difficult for a single person.
Our team lacks the technical development of a product, can Minerva help us in this?
The main objective of this program is for you to validate and consolidate the model of your business project. Although we can guide you in some technical aspects, the promoted team is expected to have the necessary knowledge to develop the product you sell or the service you offer. Minerva also has resources that can help you advance like hiring human resources or services.
Do I need to be an already established company to participate in the program?
It is not mandatory to be a consolidated company to participate in Minerva. If the company is established during the acceleration program, its main center of activity must be the region of Andalusia.
If we are already an established company, can we participate in the program?
The answer to this question is yes, of course, as long as you have your head office located in Andalusia and your main area of work is also in this region.
This business idea has already gone through different accelerators and/or incubators, is there any compatibility?
Participations in other acceleration programs will be studied and evaluated in the selective process, but it is not exclusive at first sight.
What does Minerva expect from promoters?
We look forward dedication, effort and commitment. The program is cost-free and we rigorously measure the performance during the acceleration. We expect an optimal use of all the resources that are freed up for the participants.
Who owns the work develop by the team at Minerva?
All the work developed at Minerva belongs in 100% to the promoter team. The program does not enter into the capital of the accelerated companies nor does it acquire any rights over what is produced before, during or after the acceleration. Our best reward is that you develop your solution, validate the market and get to sell the product.
Are there any ground for exclusion once the acceleration has begun?
Yes, they are included in the terms and conditions of the current call for applications.
Once the acceleration process is over, will I continue to receive support from Minerva?
Indeed, once the acceleration process is over, your project automatically becomes part of the Minerva Forum, where you will continue to receive support and advice form our team. You will never stop counting on our support! You will find help in the area of communication and diffusion, and many activities will be planned to facilitate networking and the search for investors. The Minerva team will always be available for whatever you may need.
