How does YetiZen decide who joins the accelerator?
YetiZen hand selects companies that are on the cusp of success but need mentorship, education, connection to investors, distribution, or partnerships to succeed. These companies must have specific areas that YetiZen can address and truly accelerate. If the areas of risk can not be assisted by YetiZen, then we will not take the company into the accelerator program. YetiZen is also looking for companies going after a large market. We all know games in general is a large market but here we are specifically looking for gaps within the games market that you plan to address. Finally, and most importantly, YetiZen examines the core founding team. We are looking for persistent founders who are creative and resourceful in the face of constraints. Founders must be visionaries, deal makers, closers, and have the ability to lead a product and a team to success.
What type of companies does YetiZen take into the accelerator program?
Yetizen focuses on four types of game industry businesses: Game Studios, Game Platforms, Game Publishers, and Game Tools. YetiZen hopes to create synergy within each acceleration round. These companies generally have a prototype, first playable, or first release already completed prior to applying to YetiZen. If you are at an earlier stage and we are several months from the next round we would still like to meet you and hear about your product vision. If we like what we hear we will provide a conditional acceptance based on completion of product and give you coaching and access to partnership deals.
How often does the YetiZen accelerator program meet? What are the time requirements to be a part of the program?
YetiZen will provide workshops where individual mentors will give guidance to the accelerator companies 4+ evenings a week (often with multiple workshops a night). However, not every workshop will apply to every company, or apply to every core team member. Within each company, various individuals will be interested in different education components. This means each founder will probably attend half of the evening workshops (though we encourage co-founders to partake as much of the program as possible). There also three major dates where the companies will pitch to investors: Angel Investor Day, VC Investor Day, and Public Demo Day. Finally, some mentors will have office hours with individual companies in the accelerator. These office hours will be scheduled at the convenience of the individuals involved.
How is YetiZen different from traditional incubators?
YetiZen is much more advanced than incubators and very intense even for an accelerator. We help our companies find traction, expand their distribution, define new monetization streams, flesh out deeper analytics, refine business models, and much much more. Moreover, YetiZen has defined itself in a unique way by entirely focusing on the game industry. This focus allows us to bring out veterans in specific domains to provide education and guidance to game companies unparalleled by other programs that may at first glance sound similar to YetiZen.
Do we have to form our company prior to application to the accelerator?
No. We have legal documents and teams to help you with incorporation once we decide to bring you on. We do expect this process to be completed prior to the acceleration round start date.
How does the YetiZen accelerator get compensated?
We take an equity stake in the company. You pay us nothing. YetiZen does NOT take a piece of the funding the companies receive. The entire benefits of the program are included with the equity share between the startup and YetiZen. The equity share ranges from 3-11%, the average being 7-8%.
I don’t have a business plan, executive summary, product roadmap, or marketing model. Can I still apply to the accelerator? What do you require?
YetiZen will help you flesh out these documents prior to joining. We don’t need detailed plans, but we do need to perform due diligence in order to determine your risk and growth areas. YetiZen will be crafting a team of mentors unique to your company and in order to form this team we will need to understand your needs. We may require that you hit certain milestones prior to acceptance as well.
Does YetiZen fund projects?
While YetiZen has key investor partners who provide funding, YetiZen does not invest in specific products. YetiZen invests time and resources in teams and people that are building towards an exit. The program will provide you with all the keys and tools to achieve this goal.