Info

BetaFoundry is a student accelerator program aimed at Oxford students and recent alumni. The main component is Summer program that runs July to September in Oxford/London. The program will start with a 2 week bootcamp where you will sit down with mentors and examine your idea in detail, and have access to some lessons on some of the basics involved in running a business. Each startup will receive £5,000 in investment to see you through the Summer and allow you to develop your companies to a stage where you are ready to seek additional Angel or VC funding. Teams will also receive an extensive package of benefits on top of the cash investment.

The aim for teams is to reach the end of the Summer with a minimum viable product to take to market, although it is encouraged to get to this point as soon as possible. The best company will win flights to San Francisco where they can set up meetings with investors or potential partners and gain an insight into the SIlicon Valley tech scene. The focus is on lean, technology based startups, but there are no specific requirements: all good ideas with growth potential will be considered.

What is the ideal team size?

Feedback from other incubators is that 2-3 people is ideal. The demands of building a startup are often too much for one person and as you reach four people its bordering on too many cooks. Its still possible to build a startup as a single person or a team with 4 or more people, but often more difficult. If you aren’t a team of 2-3 people we still urge you to apply, but we might need to consider re-arranging the team a little.

I have a great idea/product but no team – can I still apply?

Absolutely. We can try and match you up with a talented partner. You can still apply and work as an individual if you choose, but this does put you at a disadvantage. All things being equal, we will favor a team of 2-3 over an individual.

What kind of investment is it?

The £5k investment is an equity investment in your company. We want a long term partnership that will extend much further than the initial bootcamp program. We will always be available to help you with any problems you encounter as your business grows. We anticipate that we would get between 5 and 10% equity of the company in return for our investment and being part of the BetaFoundry program. The actual figure is dependent on how advanced you are in your idea: if you have already developed a good prototype, you are likely to get more favorable terms.

Can we still apply if we are not a lean, technology company?

Yes, if you have a good product and it fits within the confines of our program we will be happy to consider it. If you are trying to commercialize intergalactic travel, £5,000 is not going to be enough.

What if our team, or part of our team, can’t spend 2 months in Oxford over the Summer?

Its very important that you will be close to Oxford or London for the duration of the Summer. However, apply anyway and let us know the situation and it may be possible to work something out if the majority of the team can be in Oxford/London.

Who can apply?

We are targeting startups made up of Oxford students graduating this Summer or alumni who have graduated very recently. Only one member of the group is required to have this connection.

I’ll still be studying for a few more years, is there anyway to get involved with the startups?

Definitely. Get in touch and we’ll see if we can match you up with a startup as an intern. It could be a great way for you to dip your toes into the entrepreneurial world.

Who is BetaFoundry?

We are four Oxford Alumni who have been building technology startups for 5 years: Sam Westwood, Brendan Gill, Sina Khanifar & James Robinson. We’ve built RepeaterStore.com – a leading retailer of cellular signal boosters and our current project is OpenSignalMaps which is making the world’s first crowd sourced cellular coverage maps. We live and breath web and mobile technologies and our goal is to encourage other Oxford students to build their own startups and make entrepreneurship an enticing alternative to the usual corporate milk round…

Where can I find out more about startups an what it takes to build a company?

We aren’t Oxford students but our startup is  *really*  awesome?

Our purpose is to help Oxford students/alums but if your product and team is that great we might invest in your company anyway.