What is EvoNexus?
EvoNexus is Southern California’s leading startup technology incubator and hub for the startup community with locations in San Diego, Orange County and Silicon Valley. We empower motivated entrepreneurs to turn their transformative ideas into fundable, commercially-viable companies. EvoNexus startups receive mentorship, access to capital and space in a collaborative working environment.
What does it cost my startup to join EvoNexus?
We require 1% equity (1% fully diluted capitalization) from your company in the form of common stock to participate in our program. This 1% equity is our “fee” which helps to support our non-profit organization. EvoNexus does not charge any other fees for the duration of your incubation.
Will EvoNexus invest in my startup?
EvoNexus is a non-profit organization and does not invest in startups. We do however have a vast network of Venture Capital Firms, Angel Investors and Strategic Partners that invest in our startups. 85% of EvoNexus Startups have secured funding and 77% have secured funding during incubation.
Is my startup eligible to receive seed funding from Franklin Templeton?
Franklin Templeton has collaborated with EvoNexus to launch a new fintech incubator in Silicon Valley. If you are fintech startup or if you your startup falls within our areas of interest, you could be eligible. You must apply to EvoNexus and be admitted to the EvoNexus Silicon Valley FinTech Program. Franklin Templeton will offer $150,000 in seed funding (SAFE) to all startups admitted to the EvoNexus Silicon Valley FinTech Program.
How is EvoNexus supported?
EvoNexus is financially supported by our corporate partners, including some of the largest multinational technology corporations in the world. Their financial and strategic support enables us to perpetuate our low-equity, non-profit incubation model.
What are the differences among the San Diego, Orange County and Silicon Valley incubator locations?
The EvoNexus framework and model will be the same across locations. Startups will be able to utilize the EvoNexus networks, which include prominent CEOs, investors and domain experts from any location.
San Diego and Silicon Valley have dedicated FinTech Incubators. If you are a FinTech company located in Orange County you can still participate by incubating in Orange County while leveraging the networks at both San Diego and Silicon Valley.
Is my company “too far along” to apply?
If you are thinking about using the services of an incubator and are still raising seed or Series A funding then this program is probably right for you.
Who will be vetting my application?
Your application will be reviewed and evaluated by the EvoNexus team and our Selection Committees, specifically those with domain expertise relevant to your industry and business model.
I’m concerned that I am exposing my Intellectual Property by applying. Will EvoNexus sign an NDA?
While each EvoNexus Selection Committee signs a Code of Conduct outlining the respect of information contained in your application, we do not enter into NDAs for this process and do not wish to receive confidential information. Please do not disclose any proprietary business or technological information.
What if we are students, can we still apply?
Admission into the incubator requires that you be a legally incorporated company with a leadership team able to dedicate time and energy into the business on a full-time basis.
Is there a restriction on the size of my team?
No, but we require 2 individuals devoted to the startup full-time.
Will EvoNexus help me to secure funding?
While this is not guaranteed, EvoNexus will work to equip you with the tools and introductions that will help you raise funding.
Will I have to move?
EvoNexus is only operating in San Diego, Orange County and Silicon Valley at this time. If accepted to the San Diego location, the expectation is that your business will be located full time in San Diego. If accepted to the Orange County location, the expectation is that your business will be located full time in Orange County and so on.
Can I work out of other EvoNexus locations?
Yes. If accepted, you will have your full time residence incubator, but you may work out of the other locations as needed.
Can I apply if our company or founders are not from the USA? Will EvoNexus help with Visas and immigration?
While EvoNexus will accept startups from anywhere, you do need to have your business based out of one of our locations during your time in the program and be in the USA legally. EvoNexus will not be able to assist you in securing visas.