FREQUENTLY ASKED QUESTIONS
What is Purpose Evolver?
Why does Purpose Evolver exist?
Is Purpose Evolver a startup accelerator?
Don’t call us “accelerator”, we are EVOLVERS!
How does Purpose Evolver support startup companies and entrepreneurs?
We offer to the selected initiative a 3-month “Evolution Program” renewable up to 1 year! According to the needs of today's fast-changing conditions, our program is continuously improving based on the inputs we obtain from each initiative, our mentors and the community.
How does the Evolution Program work?
Selection: A startup company or an initiative that participates and completes a Purpose Alliance Challenge can either be directly selected or request access to Purpose Evolver by submitting an application. The selection process is based on the completion of your application, a short video and a matching mechanism of available mentors with applicants.
Trial Period: A selected startup company signs a pre-agreement and starts a Trial period of 3 weeks during which the assigned Purpose Evolver Mentor kicks off the evolution process using the Purpose Launchpad Methodology;
Exploration Phase: If both, the startup company and the assigned mentor, agree, the company joins officially the 3-month Purpose Evolver Program;
Evaluation Phase: Only a very selected number of startup companies will gain access to this phase; those who do, may receive a cash or other types of investment from Purpose Evolver;
Impact Phase: Once a startup has been assessed by a board of mentors to have achieved a certain evolution stage and surpassed the Evaluation Phase, Purpose Evolver will focus into increasing a company's chance to make an impact (either by connecting with impact investors, key partners, or by directly providing more assets).
How much does the program cost?
During our program we truly focus on building a transparent, trustworthy relationship with startups and entrepreneurs. So instead of charging our participants a big fee or taking a big equity at the beginning, we created different layers of compensation throghout the phases of the Evolution Program.
How Purpose Evolver program is different?
Can I become a Purpose Evolver Mentor?
What are the benefits of becoming Purpose Evolver Mentors?
How can I invest into Purpose Evolver startup companies?
Does Purpose Evolver give money to its portfolio startups?
During the Evolution Program Purpose Evolver may or may not invest in startup companies depending on specific criteria of fundability. For example, if a startup company is considered to be in the Exploration Phase, will most likely not receive any funds from Purpose Evolver directly. On the other hand, a selected startup may also join the program AND already meet established criteria (such as value proposition market fit, MRR and other metrics); in such a situation, Purpose Evolver may start a due diligence process to ensure fundability of that startup and to provide access to capital.