#Misfits

 FAQ  |  FREQUENTLY ASKED QUESTIONS

ABOUT #MISFITS

  • Q: Why is Orios organising the #Misfits Program?

    • We ran the What #Misfits Want survey, asking Indian founders about their experience and expectations from investors before, during and after fundraising. 

    • Over 1800 founders engaged with us and told us what they really want from investors.

    • The #Misfits Program is designed based on the feedback from this survey to support and mentor early-stage founders in areas that matter the most to them.
       

  • Q: How will the #Misfits Program help me build my company?

    • We bring Senior Entrepreneurs to help in areas that matter the most to early-stage founders

    • The critical areas identified include:

      • Scaling up efficiently

      • Raising funds confidently

      • Hiring right.

    • We invest $50k to $1.5M into each startup selected into the Cohort

    • We ensure startups don’t need to spend money on program fees or overseas travel to gain from the program

    • We ensure that the boot-camps with Senior Entrepreneurs are on weekends, so founders can focus on building their startup during the workweek
       

  • Q: My plan is very early

    • If you have the initial product ready and the initial set of customers using your product, you should apply. We often fund early as low as $50k. Second-time founders should apply even if the product is under construction.
       

  • Q: Who is eligible to apply?

    • Early-stage startups that have not yet raised their Pre-Series-A rounds 

    • We are sector agnostic. FinTech, HealthTech, EdTech, Retail, FMCG, Content, Gaming, Entertainment, Transportation, Logistics, B2B Marketplaces, B2C Marketplaces, Ecommerce, EV Tech, and more.
       

  • Q: When is the application deadline? 

    • Application deadline for Cohort 3 is the end of the day on 15th September 2019. No applications will be accepted after this date.

    • Applications are only accepted via the form link provided on the #Misfits Program page
       

  • Q: What if I miss the deadline?

    • The #Misfits Program is designed to engage with startups multiple times a year. You should subscribe to our mailing list to know when the applications for the next Cohort will open. Make sure you apply before that deadline.
       

  • Q: What happens after I submit the application?

    • Our shortlisting team will go through your application in detail, making notes and possibly reaching out for clarifications

    • Shortlisted startups will have a telephonic and/or video conference for final selection to the pitch round

    • We will select the startups that make it to the final cohort shortly after they pitch on the #Misfits event day

    • Final startups join the Cohort and we share the Bootcamp schedule, Mentor details and other information

    • If your startup is not selected at any step of the process, we will intimate you over email as to the status of your application.

       

 

  • Q: What is the schedule of the #Misfits Program?

    • The startups that Apply to be a part of the #Misfits Program are put through a Pre-event Pitch Bootcamp followed by a Pitch and Selection Progress.

    • The startups that are then Selected into the #Misfits Program are a Cohort and attend a series of post-event Bootcamps where Senior Entrepreneurs share their experience and insights.
       

  • Q: What is expected of founders who are selected into the #Misfits Program?

    • Motivated and driven founders selected into the #Misfits Program continue to focus on growing their startup. The Mentors and Team Orios will work with individual founders to identify gaps and requirements that are unique to each founding team and each startup and provide mentorship and guidance on how to be better, faster.
       

  • Q: Why do you not have overseas trips for founders?

    • Numerous Senior Entrepreneurs have come to the conclusion that Indian startups cannot travel overseas to emulate ideas from other countries and succeed. We believe Indian founders learn best by having a blinkers-on approach to the Indian market and running their own experiments by being close to the customer.

    • An overseas trip costs you time and is also incredibly expensive. We believe every minute of your time and every paisa of your fundraise should be devoted to growing your startup.

    • We have also lined up a deep mentoring program from some of India's most successful founders. Together with your local focus, optimization of time & money, this is what you need to build a high demand India for India product

 

  • Q: Why is your program not 10 weeks or 16 weeks like other accelerators?

    • Our program is not 10 or 16 weeks in duration because after raising funds it is our experience that it takes 8 to 12 months to build before next round can be raised. We believe good things take time to get right and want to help you in your journey.
       

  • Q: Will we have to travel to attend the Bootcamps?

    • Bootcamps will take place in Bangalore, Mumbai and Delhi/NCR to ensure founders get the benefits of mentorship without extensive travel.

WHAT HAPPENS WITHIN THE PROGRAM

FUNDRAISING

 

  • Q: I am looking to raise more than $1.5M

    • In some cases, we can work to syndicate the round with other VC funds and prominent angel investors. Though we believe in working on getting Product Market Fit (PMF) right before going on to raise larger rounds.

 

  • Q: If I'm selected, am I assured of funding from Orios?

    • Orios will invest from $50k to $1.5M into each startup selected into the Cohort

 

  • Q: Orios is not part of a larger fund house, so what about follow on funding?

    • Orios is an independent investor and we work with all VCs. As a seed-stage investor, we are not expected to lead the next round, thus there is no negative bias against your startup.

  • Q: How does Orios assist with raising the next round?

    • Being an independent seed-stage investor, we set up regular Investor sessions to ensure you benefit from interacting with as many VC funds as possible. Prior to that we will handhold you to prepare you for your pitch.
       

  • Q: How much equity does Orios take?

    • As our investment into your startup we take between 10% and 20% equity.

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