Carao Ventures Acceleration Program offers the most promising startups a comprehensive package of resources over a period of 4 to 6 months. The goal is to promote momentum -and a feeling of urgency- among talented teams of entrepreneurs to advance their ideas fast and diligently and turn them into attractive business opportunities.
- Partner involvement. One of CV founding partners gets involved in each project with at least one third of its time. They will focus on each of the startups Acceleration Program coordination while supporting the startup’s business planning, finance management and fundraising strategy. In addition, CV partners devote significant amount of time supporting the entrepreneurs’ efforts to land their first customers, suppliers and strategic partnerships
- Legal advice. The entrepreneurs will choose their lawyers from 3 of the top legal advisory firms in the region and advice the entrepreneur on all the necessary procedures and legal strategy to start a company. As initial step, the startup receives a “Legal Startup Package”, which includes the 10 most relevant legal structure pieces that a company needs to be prepared for growth and adversity, at no cost.
- Mentors, industry experts. Every startup will have a designated mentor with relevant industry experience in the specific field. In addition, startups will also have on-demand access to the full Carao Ventures Mentor Network.
- Back-office. Carao Ventures, through sponsor firms, provides free initial accounting set-up and bookkeeping services for 3 months and then on an ongoing monthly fee based on each startup’s transactional volume. The startups also have accounting, auditing & fiscal strategy services on-demand for free, through strategic partners.
- Recruiting & Hackers. If you are still looking for a co-founder or your core team is incomplete, CV helps you find the candidates you are lacking and helps you negotiate an adequate package for the inclusion of these assets in your Company. CV gives you access to a wide pool of varied talents that are looking for an opportunity to work at a startup or co-found a Company. This pool of talents include hackers and service providers that would also help you solve specific issues at a particular moment.
- Office space + services. The core team of the startup is offered a fully equipped office space or suite at the CV co-working office for the duration of the Acceleration Program. CV office is conveniently located in Sabana Norte, San José. All startups accelerated by Carao Ventures are expected to work from the CV Office for the duration of the Acceleration Program.
- Access to capital. CV manages the largest and most prominent network of angel investors. CV Angel Network is comprised of 30 members that include some of the most successful business people, prominent investors and family offices in Costa Rica. Startups ready for their first round of financing present their Companies and investment proposal to the investors at “CV Demo Days”. In addition, as an affiliate of the National Association of Incubators & Accelerators, CV encourages its top startups to apply to Government backed grants for startups and innovation.
- Community. CV Office is permanently full of life and engagement. Startups with diverse natures constantly exchange ideas and support one another. We regularly hold events for our startups that include bringing speakers, organizing feedback sessions and open happy hours. CV with the support of its startups, mentors and sponsors also coordinate events targeting the greater entrepreneurial community in Costa Rica.
Demo day & beyond
DemoDays are the culmination of the Acceleration Program. They are private events in which CV investors come to the CV Office to see the presentations of the startups that have gone through the formation, planning and validation phase that the Acceleration Program provides the entrepreneurs. Over the last 3 weeks of the Acceleration Program, CV partners and mentors will work with the entrepreneurs to prepare and rehearse the best presentation possible. The idea for the entrepreneur to take advantage of a 20min timeframe to present the company, the team, the opportunity and investment proposal to the CV Angel Network, in order to secure the round of financing needed to execute the next phase of the startup’s development.
After DemoDay is completed, CaraoV helps the startups with the necessary procedures to close the round of financing, and build an active and constructive board of directors. Through an advisory role or a spot in such board of directors, a CV partner contribute in the execution of the business plan and assure that the capital is adequately spent, protecting the Company, the founders and the investors’ interests.