What is ReaktorX
ReaktorX is a pre-acceleration program for first time founders.
How can I apply?
Application deadline for batch 4 is October 10. Forth batch starts on October 29th with a demo night planned for January 28th.
You can apply via Vestbee.
- For industry experts looking to start their first company.
- For ambitious students with entrepreneurial mindset.
- For anyone with an idea and a strong will to make it happen.
What is the aim of the program?
Take your startup from idea stage through customer development to the first version of the product (MVP), ready for first customers and / or first investor funding.
Watch the longer version of the response in this video: How the validation is done in ReaktorX.
How does the application process look like?
Reaktor crew reviews the applications and startups that make it to stage two are notified via email. Hangouts are scheduled with all the teams and final decisions are announced before the program starts.
What’s going to happen during the program?
Once you are accepted, you will be assigned your own private mentor who will help you develop your product on a weekly basis. Even though you will have one own mentor, you will also talk to other mentors during the pitch and networking events.
We will be holding a series of events, mentoring sessions and workshops for you twice a week.
During the last week of the program, we are going to organize ReaktorX Demo Night where each graduate will pitch their startups to investors, journalists and fellow founders.
- Workshops once a week for the duration of the program (10 workshops)
- Networking events with developers, designers, marketers and mentors
- Sessions with your lead mentor at least once in a two weeks (at least 5 sessions)
- Mentoring sessions with Reaktor mentors (independent of your lead mentor)
- Pitching sessions
- Demo day with pitch contest in front of top investors, journalists, influencers. Check out the pictures from batch 1 and batch 2 demo nights.
Here’s a longer video answer to that question in words of Borys Musielak, our co-founder: What happens during ReaktorX?
What are the workshops on?
- customer development
- lean canvas
- product research
- attracting customers
- legal stuff
- marketing and PR
- hiring and managing the team
- preparing to meetings with investors
How long will the program last?
Do I need to quit my job to be part of ReaktorX?
You don’t. But you should. Even though it’s recommended to focus fully on your startup during the acceleration, we understand it might be too early to quit your regular job at this stage. But keep in mind most activities are held on a week days at 10:00 am.
Also just assume no free time during those 10 weeks and weekends busy with work! And yes, we are dead serious here.
Here’s a longer video answer Do I need to quit my job to be part of the accelerator?
What will happen after I graduate?
That’s entirely up to you! We are going to introduce you to accelerators, business angels and investors who can help you with your next next steps.
Who are the mentors?
Mentors are seasoned entrepreneurs hand-picked by the Reaktor crew.
How do we match startups with mentors?
In short: based on skills, startup requirements and personality match. Here’s a full video answer.
Who are the graduates?
Two startups from the first batch, namely Getline and Sum The Sun, were able to raise seed funding during the first few months after the program. Boson Identities (currently funded by Huge Thing) is another startup that resulted from ReaktorX first batch by connecting two of the ReaktorX startup founders into one team.
Second batch graduates include Nebula Network, Invobid, SyncLab and Dollarro who all have raised funding during the program, as well as Fasadio, the winner of the jury prize and one of the startups that is already profitable.
Here are the all the ReaktorX startups with contacts to their founders. It’s always best to reach out to them first.
Are you providing office space?
You will have full access to Reaktor as a resident of the co-working space for the duration of the program. Even though it’s not obligatory to work from Reaktor, we strongly encourage you to use that opportunity as much as you can.
Can a company from outside of Poland apply?
Yes. We have already hosted two teams from Kosovo (with all the organizational stuff including visa taken care of), founders from Belarus, Portugal and Iran, so the program is usually quite international.
Longer video answer available here: Can a company from outside of Poland apply?
What is the fee for taking part in the program?
The fee is 2990 PLN + VAT.
Why are you charging startups?
We believe that by charging each startup a minimal amount for the program, we will be able to filter out people who are not thinking seriously about their business. Building a company is hard work and a huge commitment. We need to be sure you are serious.
Do you take equity in my startup?
Yes. The program is run on break even, but we truly believe in our startups, so we need to make sure we have a share in their eventual success.
Reaktor takes 2% of equity. Additionally, you will be asked to grant 1% of your equity to your lead mentor and future advisor.
Here’s more about those fees and equity as told by Borys Musielak and equity on a video.
I can’t make this batch. When is the next batch?
We organize two batches a year, usually one starts in April and ends in July and the second one starts in November and ends in January.
ReaktorX as explained by its co-founder, Borys Musielak
Our co-founder Borys Musielak explains what the program is about, showcases startups from the first batch and answers questions from audience about ReaktorX.
If you have any more questions, email us at firstname.lastname@example.org