You can still apply to the program. Point of attention will be to ensure you have a great potential of growth in the coming months (capacity to launch PhD or postdoc collaborations) and that you are able to motivate others.
The lack of a tangible IP protection system is not considered as a blocking point at this stage. Depending on the nature of the relationships between your lab and the academic institution, on an IP level, the point may become a priority to overcome during pre-incorporation.
- Your company has already benefited from pre-seed funding.
- The startup is too mature.
- The technology doesn’t really reveal a deep anchoring in the world of disruptive physics nor quantum computing.
- Your idea has not yet given birth to a real academic project of several years of research.
If the maturity of the project fits the aforementioned criteria you can still apply. If we believe the project is worth it, an extra investment committee can be setup to let you jump into the program at a later stage:
incorporation or pre-seed.
In this case your project will not be retained for the incorporation stage. However, our concerns remain to let you improve yourself and provide you with detailed reasons for such a decision. Usually a NO-GO is given for maturity concerns. Therefore if you remain convinced your project deserves another try, you can still participate in another investment committee.
This will not forbid you to apply for entering the incorporation stage as long as the project is granted a GO during the investment committee.
Shareholders of the Quantum Launchpad:
Quantonation, Zaz Ventures, IXCORE, and the Managing Director
of the Quantum Launchpad (Jérôme Foret).
At this stage, the binding between the project holder and the Quantum Launchpad is very loose. A letter will be sent to you stating, in summary, that if you or the launchpad decide to stop the venture, no counterpart shall be required by both parties.
In this case your project will not be retained for a pre-seed funding. Each project being unique, we will advise you as much as possible on the best ways to leverage the work you did. If we do not invest it doesn't mean others won’t.
This will not forbid you to apply for a pre-seed funding. However, our philosophy is to propose a complete program that, we believe, makes greater sense as a whole.
Shareholders of the Quantum Launchpad:
Quantonation, Zaz Ventures, IXCORE, and the Managing Director of the Quantum Launchpad (Jérôme Foret). Most probably 2 or 3 other stakeholders coming from scientific, VC and industrial background.
No, not necessarily. The aim of the EiR is to bring his skills to the optimal role in the company. Most importantly the EiR should have a C-level role so that the strategic vision you have defined during the incorporation period can be best deployed.
At the incorporation stage, the only binding between the quantum launchpad and the project holders is through the EiR. By contract, the EiR has only one restriction : do not take your project and go away with it outside the quantum launchpad. That is, if you (the project holders) believe the quantum launchpad is not the right vector, you are free to stop the collaboration with the EiR. However, the EiR is not allowed to resign from the quantum launchpad and keep on working for your project outside the quantum launchpad. This is similar to a non-solicitation or non-competing clause.
In this case your project will not be retained to go for a seed roadshow.
Our duty is to orient your company into the right direction depending on the specificities of your project. It may be to let a business angel invest before the seed round, we may let you have more time and wait for the next investment committee…each situation will be considered with great care.
Shareholders of the Quantum Launchpad:
Quantonation, Zaz Ventures, IXCORE, and the Managing Director of the Quantum Launchpad (Jérôme Foret).
May options can be investigated at this stage depending on the VC feedback
Well … that is the game. Our main concern remains to ensure the startup can scale and that the raised money allows you to go further?
No. The objective is that the EiR becomes a key person of the company with, usually a C-level role. No matter what role the EiR takes, it is of the best interest and practice that he also is a shareholder of the startup.