FREQUENTLY ASKED QUESTIONS

Question 1

Why should we join the accelerator?

Answer

Sparklabs Energy has partnered with Oman’s major Energy and Logistics corporates. Due to these relationships you will have access to test your product in the field. Immediately engaging with such large and important clients is a crucial stepping stone on your path to success in the region and in the world.
We have a network of world class mentors that will show you how to close the deals you need to close. Our world famous demo day will have an audience of hundreds of investors, corporates and industry professionals who are all excited to contribute to your success. We will be your strategic investor of up to $500,000, with opportunities for follow on funding, not to mention introductions to key private and corporate VCs in the region.
Lastly, our accelerator is not a formal program. Your experience will be bespoke. We will create it so that it is practical and effective and giving you deep value. We only care about one thing. Making you successful.

Question 2

We have only an idea. Is it too early to apply?

Answer

Yes. We are looking for companies that have a product ready to be tested in the field.

Question 3

We have already received some funding. Can we apply?

Answer

Yes. How much funding you have or have not received is not a dealbreaker. Though it may help us understand where you are in your startup journey.

Question 4

We don’t need money. Should we apply?

Answer

Yes, assuming you will ned funding within the next 3 years. But if you are %100 bootstrapped, then no. We are looking for companies that need investment.

Question 5

I am by myself and don’t have a team. Can I apply?

Answer

Yes. If you’re ‘crushing it’, we won’t worry that you are a sole founder.

Question 6

Do I have to be based in Oman to setup the accelerator?

Answer

No, not the entire time. But yes, you do need to come out for long enough that you can do deals with our partners. This doesn’t have an exact time, but should be reasonable. You can’t do a deal in a day, nor should it take 6 months. You will also need to set up a company based in Oman.

Question 7

Do you cover costs of flight and accommodation?

Answer

Not usually. If you need cash for that, we will then negotiate an equity deal, with founder friendly terms, but we sometimes make exceptions for your first visit.