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FAQ

LOGISTICS

When is the application deadline? When will I know my results? When are the interviews?

Application closes May 9th.

Applicants would get invited to a preliminary interview after a few days. Max a week.

Final results would be given on May 23rd after a board interview that would be held on May 22nd.

 

Where does the EXPAND program happen?

There would be bi-weekly meetings held in various places around Israel, a few of them might also take place online. Other than that, most meetings are done online.
We did find that EXPAND works much better in person, so we highly recommend attending as many meetings as possible in person.  

 

Do I need to move to the south of Israel?

No. The batch kicks off with a 2-day, in-person retreat at Mitzpe-Ramon, Israel. The Demo-Day event would take place there too.  Other than that the program is designed to seamlessly integrate with your life and work.

How do we choose which startups to accept?

We have an admissions process that’s open to any startup, anywhere in the world.

 

What can I use the EXPAND accelerator grant for?

You can use the EXPAND accelerator grant for anything related to research and development.

 

What is the time commitment of EXPAND?

It is less than most founders expect; a few hours per week if you participate in all the recommended activities. The bi-weekly meetings are the only MUST to attend. All other parts of the EXPAND program are optional; as a founder we expect you to choose how to spend your time to maximize the odds of your company succeeding. We created EXPAND to make it possible for founders to spend several months completely focused on their startup with no distractions.

 

SHOULD I APPLY?

Am I too early to apply to EXPAND? Should I wait until I have more traction?

No, it would be a mistake to wait to apply. You can even apply with just an idea if you have experience in the field and a strong team. We recommend applying for EXPAND as soon as you have a founding team and an idea you are excited about.

We‘ve already been working on our startup for a while. Is EXPAND appropriate for us?

It likely still is. We open up the possibility to apply your tech to the booming New-Space industry and open up a world of new possibilities for you.

With companies that are further along, we work differently and help them with different things compared to early-stage startups.

We‘ve already raised funding. Can we still apply?

Sure.

 

Do you only fund startups from the "classical" space industry – like rockets and satellites?

No, we'll actually looking for startups in almost all other fields. Companies that make everything from microbes to fusion reactors.

 

Can a single person apply for funding?

Yes.  That said, our advice remains that one-person startups are tough and you're more likely to succeed with a co-founder. We can try and help people find co-founders.

I have a great idea for a startup, but I‘m not technical. Will you still fund me?

The founding team needs to have the skills to build their product themselves, rather than outsourcing it to someone else. For most businesses, that usually means you need a technical co-founder. But in some cases we do, so try and apply and we will consider it.

Can I participate in EXPAND while I’m a full-time student or working full-time at a job?

You can certainly apply when you are a full-time student or employee, but we expect the founders to commit to working full-time on their company during the batch and afterward if accepted.

 

I’m working and living outside of Israel. Can I do EXPAND and stay abroad?

Yes.

.

If we participated in another accelerator, can we do EXPAND?

Yes.

Do we need to incorporate before applying?

Nope.

The EXPAND deal:

We do not charge any fees to the companies to be part of EXPAND.
and,
We do not ask for any cash or equity for participation in the EXPAND program.

But,
We do request companies to agree to a Finders Fee agreement.

 

DETAILS OF THE Finders Fee in short:

For an investment in your company by Creations.VC you would commit to a 5% equity consideration to Creation-Space LTD. On a post-investment basis, of the current and future financing rounds of the Company.
 

For an investment in your company by any other referred investor you would be introduced to during the EXPAND program you would commit to a 5% equity consideration to Creation-Space LTD. on a post-investment basis, of the current and future financing rounds of the Company, Plus, a monetary consideration equals to five percent (5%) in cash of the amount invested by each Referred Investor in the current and future financing rounds of the Company.

This is to be paid and transferred to Creation Space only after the closing of the financing round and under the condition that the Referred Investor has paid the agreed investment amount in that financing round and signed the relevant transaction agreements.

The EXPAND program officially ends on September 19th, yet we continue our commitment to you and your company for at least another 6 months and will work hard to try and help you raise the funds you need.  If during all this time we did not succeed in helping you raise any funds, the FF agreements you have with us is terminated and you do not have any obligations or commitments to Creation-Space at all after that.

For more questions please contact: Lion David  at Lion@Creation-Space.com

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