Impact Hub DC
419 7th St NW,
Washington, DC 20004
Is there a fee to apply?
No, there is no fee to apply and the full value of the services received in the Agora Accelerator is sponsored by our network of funding partners and alumni entrepreneurs! If you are selected there will be one USD $2,600 program fee*. This fee covers a fraction of the cost of hours of professional consulting and covers the attendance of one person per company to attend the Entrepreneur Retreat (USD $600 for each additional person that attends). Additionally, you will be responsible for the cost of flights to two international events (Entrepreneur Retreat and Investment Roundtables).
* Scholarships of up to $2,000 are available based on need and impact, in the application please select if your company would like to be considered for one.
If I applied to the Accelerator in the past, may I re-apply?
Yes, you may. We are most likely to accept companies who have made clear progress since their previous application. Please contact firstname.lastname@example.org if you have any questions specific to your case before you start filling out the application.
Can I apply if I don’t have an operating company?
Our ideal candidates will have been operating for 1-5 years, but we are always interested in outliers. We usually work with companies that are post proof of concept (they have a client base, revenue, and are looking to grow) because we are better positioned to support them. However, we analyze each application on a case-by-case basis and normally select a handful of particularly high potential earlier-stage companies who are looking for capital within 18 months.
What documentation do I need in order to participate?
All entrepreneurs must have a passport and the necessary visa to travel from their home country to Nicaragua. A US visa is not a requirement, but entrepreneurs who do not have one will be limited in terms of the events they can attend.
Can non-profits, cooperatives, or hybrids apply to the Accelerator?
What are your geographic requirements?
We accept applications from all countries in Latin America and the Caribbean. As we select companies, we take into consideration the requirements of our funding partners, who may have preferences by sector or country.
As long as your company is creating impact in Latin America or the Caribbean, we are happy to work with you whether or not your operations are based in Latin America or the Caribbean. For example, your company may work with artisans in Latin America but sell products in the US.
Similarly, if your company is operating outside of Latin America or the Caribbean and your investment project is to expand your company to Latin America or the Caribbean, we may also be interested in working with you.
Do I have to be a fluent English speaker to participate in the Accelerator program?
No, but you do have to be fluent in either English or Spanish. It is helpful if at least one person on your management team speaks English, but it is not a requirement for the program.
Will you accept applicants who are not looking for external financing?
Yes, in certain cases. However, we aim for most of the companies we work with to be seeking capital as investor matchmaking and preparation for investment is one of the main services we offer. We also understand that companies may think that they need capital, when sometimes this is not the case. Helping companies to pinpoint their financial needs is an important aspect of our Accelerator; however, it helps for companies to have an idea of what they need when they apply.
What type of impact do you look for?
We want to work with companies whose impact is intentional and integrated within their business models, so that as the company grows, so does the impact. We prefer not to work with companies whose impact is based on donations, or 1:1 models. We are looking for companies creating impact that is exponentially scalable. This means that we do not tend to work with consulting firms or restaurants, for example. Impact can be social, environmental or both.
Do entrepreneurs have to be a certain age?
No, we work with adults of any age.
Does my company have to fall into a certain sector to apply to the Agora Accelerator?
You are welcome to apply if you have a company solving a social or environmental problem in Latin America or the Caribbean, in any sector. However, some of our funding partners have specific requirements and we do group selected companies into sector-specific tracks.
What is the time commitment for participating in the Accelerator?
Your success in the program is highly dependent upon your level of commitment. The more time you invest, the more benefit you derive from the program. The program is divided into three distinct phases, which last four months altogether. Accepted companies are required to commit 4-6 hours per week to complete allocated tasks and to spend time with their Agora Consultants. You will be required to attend the Entrepreneur Retreat for four days, and may participate in an Investment Roundtable later in the year, which will require 1-3 days.
What are my responsibilities as an Agora entrepreneur?
In order for Agora to best support you, entrepreneurs must supply documentation and information as requested, respond to requests promptly, attend required meetings and events, and provide annual updates on financial and impact data to Agora on a regular basis once they have graduated from the Accelerator. The more active you are with your Agora Consultant and within the Agora network, the more benefits your company will derive from the experience.
Is it possible to participate in the Agora Accelerator and other programs at the same time?
There are no restrictions as long as you are able to maintain your commitment to the Agora Accelerator. However, please ensure that you understand the time commitments for each program and that you are able to spend enough time on the Accelerator to get its full value before committing to other programs. Should the Accelerator staff feel that a company is not committing the required time and effort to the program, after an initial warning, Agora reserves the right to terminate its services.
Does Agora take an equity stake in my company?
No, unlike many Accelerators, Agora Partnerships does not obtain equity from Accelerator companies.
Who will be my Agora Consultant?
Your Consultant will be a dedicated professional who is committed to the growth and success of your company. Consultants typically have an MBA and more than 5 years of professional experience.
Is the Accelerator targeted towards the team or the leader?
We work primarily with the leaders of the companies; i.e. Founders, CEOs, COOs. However, during the consulting process, participation from the rest of the team will be required.
What type of investments have been facilitated through the Accelerator?
We seek to help entrepreneurs identify not only the right amount of investment, but also the right type of capital and to find mission–aligned investors for their company. Companies that enter the Accelerator typically have identified investment needs of more than USD $50,000. The average size of deals closed is USD $425,000. Deals closed from investors in our network have been 29% debt, 19% equity, and 25% grants. Other deals include creative structures aligned with the impact and the financial success of the company.
After the Agora Accelerator, what’s next?
We track the results of companies for three years after they graduate from the Accelerator. However, once you participate in the Accelerator, you become a part of the alumni community forever. Agora is committed to helping alumni succeed through offering continued opportunities including Investment Roundtables, Investor Network Introductions, media exposure, and more. As a member of the Agora network, you will also be connected to other Agora alumni leaders who can act as resources for your company’s continued growth and success.
Impact Hub DC
419 7th St NW,
Washington, DC 20004
Residencial Altamira D'Este,
del Banpro 1 cuadra abajo, No. 82
US VoIP: 202-558-6962
Av. Insurgentes Sur 318
06700 Cd de México, CDMX