What kind of companies are eligible for the Nordic XR Startups program?
We are fairly agnostic to the development stage of your company. Companies in pre-seed, seed, and startup phases are all welcome to submit applications. It does not really matter if you just have a good team with a great idea, or if your company has been in business for years but you want to accelerate growth. The participants need to be a registered company though, so if you aren’t one already, we can help you with this once accepted to the NXS program.
I’m alone right now, can I apply?
Yes you can, we understand that getting the right team on board to fulfill your ambitions requires investment. It’s just important to be clear about your plans, your team, and your product.
How will the shareholder contract or “deal” with NXS look like?
The terms will be fairly standardized for all participants, the only variable factors are the investment you will receive upon entry, the valuation of your company and the equity share that NXS takes.
I’m concerned about confidentiality and am not comfortable sharing too much information with other NXS companies.
Peer to peer support and learning is in the heart of our program. We believe the Nordic XR Startups community will be a key benefit when accelerating your business towards next stage finance or great deals with publishers and partners. This does mean that you do need to share key elements of your work with your peers, mentors, and investors to receive full program benefits.
Can I submit a project I’m working on part-time?
The submissions to the program have to be companies or at least ventures that are being formed pending acceptance to the program. We favor companies that have a strong fully dedicated team.
We are 2-3 people, is our team size too small for the program?
Absolutely not. Many early-stage ventures can operate with a small core team with complementing competencies and outsourced services. We understand that getting into the program or getting further finance might be a key element in ramping up your team. Your core team and strength of your business proposition is key.
How central does VR/AR need to be for my company, can I apply if I have an XR project or feature?
We are looking for companies that work with VR/AR as the key enabling technology. The technologies should be central to your proposition to consumers or other businesses. It should add genuine value to the service, experience or platform you have created. If VR/AR is merely a sideshow for you then you are probably not within our investment scope.
Do I have to sit with the other companies in the NXS workspace in Helsinki?
We are flexible on this. Maybe you want only a part of your team to sit with the other teams or your whole team sits in Helsinki for a few days a week. However, we wish to remind your that peer to peer support is a key element and benefit of our program.
Is NXS focused on gaming?
No. But naturally at this stage when gaming is one of the first commercial applications in XR, we do see a lot of gaming companies applying.
Do you provide accommodation/housing?
We don’t provide housing or accommodation. We can offer some assistance, but primarily it’s everyone’s own responsibility to find accommodation during the program.
Do you provide computers and XR gear?
Every team should have their own gear to work with, but we do provide some shared demo hardware.