FAQ
General
- What is EvoNexus?
- EvoNexus is California’s leading non-profit startup technology incubator. EvoNexus’ goal is to empower motivated entrepreneurs to turn their transformative ideas into fundable, commercially-viable companies. EvoNexus startups receive mentorship, access to capital, and a collaborative working environment through our virtual and location-based incubators.
- 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?
- Though EvoNexus is a non-profit organization that does not invest directly, we have a vast network of strategic partners, venture capital firms, and angel investors that invest in our startups. In addition, Franklin Templeton (FT) invests in every company accepted into our San Mateo FinTech incubator. 85% of EvoNexus startups have secured funding and 77% have secured funding during incubation.
- 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.
- 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 to the business on a full-time basis.
- 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. EvoNexus has a huge network of Venture Capitalists and Angel Investors who are constantly looking into our portfolio companies. We have formed strategic partnerships with dozens of publicly traded corporations who are looking to invest in the latest important technologies.
- Can I apply if our company or founders are not from the USA? Will EvoNexus help with Visas and immigration?
- EvoNexus offers two incubation programs, virtual incubation and facilities-based incubation with locations in San Diego, Orange County, and Silicon Valley. In facilities-based incubation, while we will accept startups located anywhere, EvoNexus requires at least two full-time employees or founding members to be on-site throughout the term of incubation. In virtual incubation, companies can work from anywhere, all while reaping equal and unique benefits from our program. However, EvoNexus will not be able to assist you in securing visas.
Franklin Templeton
- Who is Franklin Templeton?
- Franklin Resources, Inc. [NYSE: BEN] is a global investment management organization operating, together with its subsidiaries, as Franklin Templeton. Franklin Templeton’s goal is to deliver better outcomes by providing global and domestic investment management to retail, institutional, and sovereign wealth clients in over 170 countries. Through specialized teams, the company has expertise across all asset classes, including equity, fixed income, alternatives, and custom multi-asset solutions. The company’s more than 600 investment professionals are supported by its integrated, worldwide team of risk management professionals and global trading desk network. With employees in over 30 countries, the California-based company has more than 70 years of investment experience and over $617 billion in assets under management as of May 31, 2020. For more information, please visit franklinresources.com, franklintempleton.com or country-specific web site.
- Is my start-up eligible to receive seed funding from Franklin Templeton?
- Franklin Templeton has collaborated with EvoNexus to launch a FinTech incubator. If your company is a FinTech startup or if your startup falls within our areas of interest, you could be eligible. You must apply to EvoNexus and be admitted to the EvoNexus FinTech Program. Franklin Templeton will offer $150,000 in seed funding (SAFE) to all startups admitted to the EvoNexus Silicon Valley FinTech Program
- What prerequisites are necessary for the best chance at seed funding from Franklin Templeton?
- To maximize the full potential of the EvoNexus/Franklin Templeton Incubator, it is required that key members of the founding team are residents in the California Bay Area. Preferably, the CEO, and/or officers of the company responsible for fundraising and directional decisions. Please be specific about your team members and their location.
- What makes Franklin Templeton’s partnership with EvoNexus so unique?
- As part of our corporate-startup engagement, startups benefit from accessing a broader corporate network and increase their odds of long-term success. The program aligns startups with a corporate engagement team well-versed in understanding its own business needs and how it can best partner with founders to solve internal challenges and that are mutually aligned with the startup goals. We also foster collaboration with the startups by aligning mentorship and fostering relationships that are a symbiosis.
- Which areas of FinTech are EvoNexus and Franklin Templeton finding and admitting?
- Artificial intelligence/machine learning, bank/wealth/payment technology, capital markets technology, cybersecurity, blockchain, mobile payments, P2P lending, digital cash, InsurTech, RegTech, data science, predictive behavior analytics, and key telecommunication enablers, such as 5G, IoT and edge computing, that will have an impact on the digitization of financial transactions and banking.
5G/AI Programs
- What are your selection criteria?
- EvoNexus considers a range of things when admitting companies, including the scale and scope of the problem or opportunity you are proposing to address, your ability to differentiate from would-be competitors, your go-to-market approach, and your founding team. In terms of suggestions for strengthening your application, you might consider the following:
- Make sure you have the right mix of skills for the business you are proposing to address
- Show us your idea in action. Build a prototype, prove it can work!
- Demonstrate that you’ve done the leg work to validate your idea. Explore your market channels, talk to would-be customers, validate requirements, and test for willingness to pay
- A product today whose experience could be uniquely enhanced with 5G
- A product which will unlock significant value for the 5G ecosystem
- Products that uniquely leverage 5G-specific characteristics
- How are Qualcomm Ventures and EvoNexus working together?
- Companies will go through the standard EvoNexus selection and due diligence process for admission to the Incubator. EvoNexus will determine who to admit and will extend an offer of acceptance under their standard terms and conditions. In parallel, Qualcomm Ventures will engage in discussions with selected companies. Admission to this program does not guarantee funding from Qualcomm Ventures.
- Who will we be mentored by?
- Selected companies that are placed in the Qualcomm Ventures @ EvoNexus space will be matched with an appropriate mentor from Qualcomm or EvoNexus’ vast network of industry experts.
- What value does EvoNexus provide to startups?
- Up to 2 years of residency, the long-term residency allows startups to build their teams, develop their minimum viable product, refine their market, secure venture capital, collaborate with strategic customers or partners, and EvoNexus graduate more likely to survive in the wild.
- Could you tell me more about EvoNexus and Qualcomm success stories?
- So far, Qualcomm has invested in 6 EvoNexus ventures and acquired 2 Startups admitted to the EvoNexus incubator.
- Do I have to be at the EvoNexus location for the 2-year period of incubation?
- EvoNexus offers two incubation programs, virtual incubation and facilities-based incubation with locations in San Diego, Orange County, and Silicon Valley. In facilities-based incubation, EvoNexus requires at least two full-time employees or founding members to be on-site throughout the term of incubation. In virtual incubation, you can work from anywhere, all while reaping equal and unique benefits from our program.
- What is Qualcomm’s 5G Ecosystem Fund?
- Qualcomm Ventures 5G Global Ecosystem Fund will invest up to $200 million in companies developing innovative solutions across the entire 5G value chain. This fund will invest in startups that share Qualcomm Ventures’ vision to transform yet-to-be-seen innovations and technologies into reality by using the power of 5G. To learn more, click here.