Frequent Asked Questions

How much funding do NXTP Labs companies receive?

You get up to U$25,000 for your company. You also get a nice place to work if you want to, and more. There is immeasurable value in the connections and advice that you’ll receive when you start your company with NXTP Labs, and also in the opportunity to pitch to angel investors and venture capitalists at the end of the program during our Investor and Demo Day.

What sorts of companies do you fund?

We fund technology oriented companies, typically these are web-based or other software companies. Our investment themes are: social (fun & simple), consumer internet, mobile, software, media & entertainment, new retail & services. We look for companies who need customers acquisition through the online channel.

Who’s behind the program and why are you doing this?

We are a group of very successful entrepreneurs who truly enjoy helping startups. We want to improve the sustainability of start-ups in Latin America.

Why does NXTP Labs need and want stock in my new company?

Like you, we’re entrepreneurs. We think that the value of the learning, networking, and coaching provided by the program is of tremendous value. The NXTP Labs program will provide you with the healthiest possible start and greatly improve your chances for success and sustainability. Once we invest, we are motivated to help you succeed by introducing you to people who can help, assisting you with strategy, finding more investors, and generally helping you to succeed. That’s a good deal for both of us.

Is my company “too far along” to apply to NXTP Labs?

Probably not. Although, we are interested in invest in companies who has a newly born beta product, good business plan or great video. This will tell us what is the team, that is presenting the idea, capable of doing by their own. We’d prefer teams instead of single founders, but we have good cases in which the single founder worked very well.

Do I have to be there for the entire 4 month period?

No. It’s your company so you can come and go as you see fit. But we do require that you be on site during the program’s workshops and activities. This benefits you because you can take advantage of the numerous learning opportunities, networking and coaching that will be provided. NXTP Labs is a major commitment, and we expect you to be around most of the time.

Do I have to stay in Buenos Aires city when the program ends after 4 months?

No. It’s your company, so you’ll live where you want to.

Can I apply if our company or founders are not from the Argentina?

Yes. Anyone from anywhere can apply. You do have to be legally in the Argentina during the program, of course.

What else does NXTP Labs provide? Office space, Internet, legal advice, etc?

We provide working and meeting spaces, as well as wireless Internet access. Still, many of our founders choose to work from their apartments or local coffee shops. It’s up to you. We just want you to focus on creating a great product while you’re here, and not have to worry about all this other stuff.

How can we get funded after NXTP Labs ends?

We provide the seed funding to get you going, but you may well need more funding to really make it. Near the end of the four month program, we’ll organize an Investor Demo Day where angel investors and venture capitalists will check out your technology and listen to your pitch. We’ll coach you so you’re as effective as possible, and do everything we can do help get you follow on funding.

Can you tell me more about the networking and educational opportunities?

About two or three times per week, we will organize an informal breakfast or meeting and invite our mentors to speak on a relevant topic, we call the “Mentor Talks”. These will be presented as appropriate by highly successful entrepreneurs, angel investors, legal experts, etc. We have another beat, “Reverse Pitch” in which venture capitalists and investment bankers of our network are telling the companies what do they look for in an entrepreneurial team and project. You will learn from your pairs in the “Sharing Breakfast” sessions.

What sort of control am I giving up by granting equity to NXTP Labs?

NXTP Labs wants to be viewed as a co-founder. We expect to have all the same rights as any other founder, relative to our minority ownership position. In a nutshell, we don’t want any special or controlling interests in your company. We won’t ask for a board seat or for any uncommon investor rights. You will still run the show.

I’m a single founder. Can I get accepted into NXTP Labs, or do you only look for teams?

While we don’t screen applications just because they have a single founder, it does make things more difficult. We look for great, balanced teams who have a full range of skills. We strongly advise you to seek co-founders who balance your skillset.

Where will we live while we’re there?

That’s up to you – we don’t provide a place to live. It hasn’t been much of a problem for past founders.

How do you choose which companies to accept into the program and to fund?

We will choose great founders who are proposing products that solve real problems or create meaningful innovations. For us, it’s about the team. The best things you can do to strengthen your application are:

- Round out your team with business, technical, and other necessary skills.

- Make progress on your prototype or product and reference it in the application.

- Show us you’ve really thought about your business and have gotten off your butt to do something about it.

Is my age a factor in your selection process?

The typical age range of our founders is 25-40 years old, but we’ve had much younger founders and much older founders in the past.

Do I need to send in a business plan?

No. Just fill out the informal online application – that’s all you need for us.

When is the deadline to apply and what’s the overall timeline?

We have two yearly editions of our program in fall and spring. You can apply any time, but you may be asked for a meeting in February and August, the days previous of the kick off of the edition.

Where is the NXTP Labs office and what’s it like?

It’s in Palermo Soho, near the Starbucks. Great place.

What will a typical day be like for a NXTP Labs founder?

It’s your company, so you’ll be hard at work on your product. About two or three times a week, we’ll organize informal educational sessions with our mentors or social events. We also expect many of the mentors to drop in to NXTP Labs at various times throughout the program. In general though, you’ll be working on your product each day, just like all of the other founders in the program. We don’t tell you what to do or when, but we create an environment that is conducive to helping your startup every day.

I’m concerned that if I apply, you won’t protect my intellectual property. Should I be worried about this?

We’re certainly not in the business of stealing ideas, and we won’t show your application to anyone outside of NXTP Labs. Each year, we see hundreds of applications and many of them include similar ideas.

My team outsources software development. Are we still qualified to apply?

Yes. We think it’s best not to outsource what you are, but it obviously works in some cases. We’re happy to consider any application. Just remember that we’re primarily focused on the team.