Please note that programme fees are for one start-up team with two founders, not per-person. The third member of the team should pay 75% of the programme, the fourth member of the team should pay 50% of the programme. However, each team member should have an EIR ID Number. One-to-One Session means it is a session for the start-up team in one group.

Please note that programme fees are for one start-up team with two founders, not per-person. The third member of the team should pay 75% of the programme, the fourth member of the team should pay 50% of the programme. However, each team member should have an EIR ID Number. One-to-One Session means it is a session for the start-up team in one group.

Executive One-to-One Check-up Meetings with the Start-up Co-Founder
Meeting 1: 1 Hour Online – Week 4, Meeting 2: 1 Hour Online – Week 8

Executive Committee Members to join the meeting:

• Christopher Drescher, Managing Director, Global Start-up Investment Promotion Agency (WIPA)
• Dr. Gerhard Hrebicek, Head of Strategic Brand Development & Management Department, Global Start-up Investment Promotion Agency (WIPA)
• Katarina Strandberg, Head of Start-up Communication Department, Global Start-up Investment Promotion Agency (WIPA)
• Maryam Najafi, Head of Global Mentorship Department, Global Start-up Investment Promotion Agency (WIPA)
• Modwenna Rees-Mogg, Head of Education Department, Global Start-up Investment Promotion Agency (WIPA)
• ISAB Board Member - International Strategic Advisory Board Members (Business Mentor assigned for the Start-up)

Step 0:
Entrepreneur should get an EIR ID Number Please note that only entrepreneurs with and EIR ID Number can move into the selection process.

Step 1: Complete the Application - All prospective EIRs will complete an on-line application form available at wbaforum.org or wipa.agency. A completed application provides the WIPA Selection Committee with a brief description of the applicant’s current business status, and a very preliminary sense of the applicant’s services, training and development needs.  

Application Link:

Step 2: Short-listing of Candidates - Prospective candidates that complete Step 1 and are determined to be an eligible start-up founder or start-up venture, will be required to augment their application with a draft business plan. The plan should provide more in- depth information about the stage of business development, stature of the management team, market potential, and overall potential for success.

If the business description or business plan adequately addresses screening criteria pre-established by the Board, the Managing Director would review the applications and create a short-list of candidates to be accepted into the programme.

Step 3: Interview - The prospective EIR would present their business case to the Selection Committee of the Board, and the Managing Director. The committee’s role is to assist the Managing Director in understanding the business case and determining if the applicant should be approved for acceptance into the programme.

Step 4: Selection of Candidates - Based on the results of the interview, the Selection Committee will make a recommendation to the Board for the acceptance of the candidates into the programme.

The process will be underpinned by:

• A very clearly defined timeline and deadlines
• An application form, which will be available online on wbaforum.org or wipa.agency
• Defined general conditions regarding which Founders can apply (e.g. age, country of origin, legal requirements of business, etc.)
• Clearly defined selection criteria
• Selection by a panel, and
• A formal agreement for those selected for each Cohort.

Entrepreneurs are accepted for the Start-up Exchange Programmes (WSEP) after a selection process including:

• Entrepreneur-in-Residence Registration with a WEELT score
• Phase Identification Interview
• Entrepreneurship Assessment Test
• Investor Pitch

The Secretary General of  WIPA organises all these assessment tools. The assessment process is designed to ensure that the entrepreneurs selected and accepted will benefit from the programmes at the maximum level. [If you are not selected, this means in our opinion, you will not benefit from the investment of your time and money in the Start-up Exchange Programmes.]
 

Entrepreneur-in-Residence Registration with a WEELT score

You should register yourself as an EIR to join the WIPA Start-up Exchange Programme. You need an EIR ID Number to complete your application form, which will be provided after completing your registration process as an EIR. Registration as an EIR and getting your EIR ID Number is a free process. However, you will need to include your WEELT Score (Entrepreneurship English Language Test Score) to complete your registration process. After you have your WEELT Score, please send your WEELT Score by an email to Christina Mc Gimpsey who will provide your application link for becoming a WIPA EIR.

2 simple steps
Supply your WEELT Score by sending it to Christina
Register to get your EIR ID number (no charge)
 

WEELT - Entrepreneurship English Language Test: https://wbaf.school/WEELT-EXAM
Christina Mc Gimpsey - Secretary General, World Business Angels Investment Forum
Email: Christina.McGimpsey@wbaforum.org

Phase Identification Interview
Candidates for all programmes undergo a [formal] interview. After completing the online application, entrepreneurs will participate in an online interview with the selection committee members who will identify the phase level of entrepreneur as one of the following; Pre-incubation, Incubation, Acceleration or Co-working.  During the interview the applicant must map their vision with defined goals and objectives, and together with the Selection Committee Members, perform an analysis to identify the gaps between their current status and their vision for the future direction of the business.
 

Entrepreneurship Psychometric Assessment  Test:

The Selection Committee identifies the necessary skills and entrepreneurial characteristics needed to start a new venture. The assessment analyses 14 key dimensions of personality, motivations, skills, and experiences required to be successful as an entrepreneur. Completion of this test is a must for all Pre-incubation candidates.

https://www.centraltest.com/free-trial?param=big-five-profile

Investor Pitch
Selection Committee listens to 5 minutes pitches from all entrepreneurs who are at the Acceleration Level with a Q&A session.
 

Selection Process and Criteria

There are three separate selection and acceptance processes:
Selection Committee 1:  WIPA Start-up Exchange Programmes (WSEP)
Acceptance Committee 1: Co-working Programme
Acceptance Committee 2: Global Fundraising Stage

Selection for the WIPA Start-up Exchange Programmes (WSEP):

The objective is to identify the best founders of early stage ventures that have the potential for high growth and access to [equity funding][finance] by the end of the Start-up Exchange Programme, or shortly thereafter. WIPA uses a nine-step process to identify the best candidates, starting with intense press coverage and marketing to announce the start of the admission process.

Step 0: Entrepreneur should get an EIR ID Number Please note that only entrepreneurs with and EIR ID Number can move into the selection process.
Step 1: An online application via www.wbaforum.org and www.wipa.agency
Step 2: Phase Identification Interview
Step 3: Entrepreneurship Assessment Test – for Phase 1 only (pre-incubation programme)
Step 4: Investor Pitch – for Phase 2 and Phase 3 only (incubation and acceleration programmes)
Step 5: Selection of candidates
Step 6: Proposing selected candidates to approval of the board
Step 7: EIR receives Letter of Acceptance
Step 8: EIR completes the registration process
 

The basic evaluation criteria to be used by the Selection Committee are:

• Stage of Development – Is the business in the early stages of development?
• Note: Early stage means within the first two years of business operations, but small companies involved in a significant change in direction or launching an innovative new product or service may also apply.
• Market attractiveness – What is the market size and market growth? Is the company targeting local or global markets? What are the barriers to entry?
• Innovation and technology – Is the business innovative? Does it have a unique value proposition, unfair advantage from competition and intellectual property?
• MVP and traction – Does the company already have a minimum viable product or a prototype, early customers and other proof of idea validation?
• Business model – Does the company have a viable and potentially profitable business model, including a defined supply chain, distribution channels, marketing and customer relationships, strategy, partners, resources, activities, revenue streams and cost structure?
• Potential for growth – Does the business have the potential for above average growth and the creation of jobs?
• Quality of the Team – Does the applicant have a management team that the selection panel feels can handle the technical and managerial aspects of the business? How many founders are there? What is their entrepreneurial business acumen and experience; how long they have been working together?
• Willingness to accept guidance throughout the incubation period – Does the applicant want to take advantage of and be able to benefit from the training, value-added services and guidance offered by the incubator? Are the Founders and their teams willing to take advice from Business Mentors, the professional network and/or the Managing Director?
• Ability to pay. Does the applicant show an ability to pay the subsidised fees for the programme? Please note that programme fees are for one start-up team with two founders, not per-person. The third member of the team should pay 75% of the programme, the fourth member of the team should pay 50% of the programme. However, each team member should have an EIR ID Number. One-to-One Session means it is a session for the start-up team in a group.

Once accepted, Founders and their teams will be required to sign a binding agreement which details:

• The obligations of the WIPA are to:
  • Provide educational courses and programmes,
  • Establish ISAB ( Individual Strategic Advisory Board),
  • Provide business mentorship, business coaching and business consultancy,
  • Organise Global Fundraising Stage and its Demo Days,
  • Provide start-up communication package,
  • Provide digital transformation support programme,
  • Provide brand development and management support,
  • Provide access to new markets support, and
  • Provide business support including - organisation of roundtables, weekend treat programmes, exhibition booths, global networking and exchange forum, organising ideathons, starthons and hackathons, establishing an EU company.
• The obligations of the Founders and their team members are to:
  • Participate in the programme [please note no refunds will be provided if founders and their teams do not attend all or part of the programme]
  • Promote WIPA actively within their  company and with their company stakeholders, including on their websites
  • Become an alumni member
  • Participate in post-incubation activities and events
  • Pay the fees for the  programme into which they have been accepted [on time and in full]

Procedures to Monitor Progress During Programme Participation

The lobal Start-up Investment Promotion Agency (WIPA) has well-defined criteria for entrepreneurs graduating from the Start-up Exchange Programmes. An entrepreneur, start-up venture or SME would have been deemed to have graduated if he/she has:

• Completed the mapping of the Founder’s vision with defined goals and objectives for the pre- incubation, incubation or acceleration period and identified the gaps between the current status and the vision,
• Completed a strategic growth plan that will fill these gaps and facilitate the business achieving the vision,
• Identified new members to be recruited to the management team or onboarding them in response to identified weaknesses, and
• Completed all the components of the programme s/he was accepted.

Additionally, participants of the Smart Money and Smart Capital Programmes need to have 
Pre-Incubation and Acceleration

• Met with the assigned ISAB Board Members (Board Members of the Individual strategic Advisory Board),
• Participated in the board meeting with the WIPA Executive Committee - Check-up Meeting
• Delivered a practice pitch to a panel of investors or developed a financing proposal to present to an investor,
• Signed strategic partnership agreements with key suppliers or clients,
• Attended the Weekend-Retreatsth, Ideathons, Starthons or Hackathons the roundtables,
• Opened exhibition booths
• Attended the Global Exchange and Networking Forum
• Provided the requested content for start-up communication department
• Joined the business and digital transformation programmes
• Pitched on the Global Fundraising Stage
• Pitched at the Global Fundraising Stage Demo Days

An entrepreneur or start-up venture will have an early exit from the programme if one or more of the following occurs

• The entrepreneur has early achieved the agreed-upon milestones and has no further need to remain in the WIPA Start-up Exchange Programme
• The entrepreneur has failed to meet certain benchmarks or milestones
• The business assistance needs of the entrepreneur are beyond what the WIPA can provide
• The Founder fails to abide by the rules of the WIPA or is not a good fit for the Programme
• The Founder fails to pay the fees for the programme s/he is accepted.

Procedures to Monitor Progress After Programme Participation

In order to gauge WIPA’s effectiveness over time, it will be important to continue to gather data on the performance of graduated entrepreneurs and companies to assess the longer-term impacts of the platform’s activities in terms of graduates’ revenue and profit performance, new job creation, tax revenues earned by the government as well as multiplier effects. WIPA will also  gauge other indirect effects, such as possible opportunities for graduated Founders to provide peer mentoring support to EIRs, and contribute as guest speakers in the educational programme, meetups and other events.

Founders Alumni Network: The WIPA Alumni Network is a network of graduates or, more broadly, of former participants of the Startup-Exchange Prof-grammes (alumni). The Network often organizes social events, publishes newsletters or magazines, and raises funds for the start-ups of the WIPA. It provides a variety of benefits and services that help alumni maintain connections to the WIPA and fellow graduates. At the WIPA, all graduates of the programmes automatically become members of the WIPA Alumni Network and will be entitled to enjoy its privileges. One of the main purposes of the alumni network is to support a network of programme graduates who will, in turn, help raise the profile of the Agency. It aims to bring together like-minded individuals.

Homecoming: We hope to make homecoming an annual tradition at the WIPA. Graduates, participants, global partners, lecturers, entrepreneurs, mentors, coaches, advisors and angel investors will come together in late September or early October to welcome back former graduates of the WIPA Start-up Exchange Programmes. It will be built around a central event, such as a roundtable, workshop, open forum or study trip for participants and alumni.

Fund Investor: The WBAF Angel Investment Fund is designed to capitalise on the worldwide growth in entrepreneurial activity and venture financing for start-ups and scale-ups and to benefit from WBAF’s extensive network of global investors, including angel investors, private equity funds, co-investment platforms, wealth management institutions, family offices, VCs and acceleration centres. Members of the WIPA Alumni Network can join the Fund as an angel investor if they hold QBAC+ ID Card.

Ventures that are accepted into the WIPA Start-up Exchange Programmes (WSEP) will enjoy improved success rates as they are nurtured through the early stages of enterprise development. Specific benefits include a better appreciation on the part of Founders of how prepared the business needs to be to attract investment capital. The programmes will help entrepreneurs understand what funding is appropriate for their business, considering the specific personal and business ambitions and the current stage of development and growth of the business. They will also better appreciate how developed the business needs to be in relation to customer engagement and market validation.

• Networking and Mentoring – WIPA will draw on the know-how of the WBAF’s extensive network (individual investors and corporate members) and other partners to address entrepreneurs’ / founders’ unique needs for business knowledge, access to markets, suppliers, and sources of capital.
• Learning how to pitch to investors – Entrepreneurs / founders will learn how to best present their proposals to potential investors (or other sources of financing); better understand how the investment process works, before investment, during the deal-making process (due diligence and legal negotiations) and post-investment.
• Increased Visibility and Stature – Being in the WIPA would significantly increase the visibility of entrepreneurs / founders and their teams in the marketplace, thereby improving their success potential. Admission to the programmes provides a clear endorsement of the quality of a business, which will enhance its  the stature and increase their chances of securing financing.
• Improved business acumen – WBAF Business School education programmes are designed to be practical and address many of the issues where many entrepreneurs have weaknesses It aims to remove that obstacles companies face which limit the commercial success of their ventures and their access to finance.
• Greater access to appropriate finance – WBAF’s global network with angel investors, banks and VCs will prepare entrepreneurs / founders to more easily access finance appropriate for their stage of growth, including debt and equity.
• Increased focus and growth – The structured, yet flexible nature of the WIPA Start-up Exchange Programmes will suit entrepreneurs / founders who are interested in growing their businesses and taking advantage of the resources WIPA has to offer.
• WIPA will offer entrepreneurs / founders the opportunity to network with like-mind individuals who are also building and growing their businesses.

From the perspective of entrepreneurs / founders of early and growth-stage companies, there are several reasons why they would want to participate in an incubation, acceleration or, co-working programme at the WIPA.

WIPA:

• Provides validation of the business idea and business model,
• Offers access to experienced mentors,
• Provides opportunities to connect with potential customers,
• Encourages peer learning and support through its cohort structure,
• Gives entrepreneurs / founders the chance to really develop their businesses because of the flexibility of the programme and the support provided,
• Provides hands–on experience, including entrepreneurial education; and
• Provides the opportunity of getting longer-term, patient capital from angel investors, working capital from banks and growth capital from venture capitalists.

For WBAF’s global partners in particular, WIPA will provide enhanced deal flow as well as other potential benefits such as:

• The opportunity to scout for and filter talent,
• The potential to build a pipeline of investable and bankable companies,
• The chance to provide hands–on support, guidance and information; and
• Connecting SMEs with which the financing partners are involved with strategic resources.