FAQ
Shotput Ventures is now part of FlashPoint.
What is Shotput Ventures?
Shotput Ventures is an accelerator micro-fund to mentor and invest in web companies.
What is the Shotput Ventures program?
The program is an intensive coordinated effort to help you launch your company and product. Participating teams will form new companies and build a new product over a three month period while being mentored by a group of experienced web entrepreneurs and successful business leaders.
What type of companies do you fund?
We fund capital-light web companies.
What are capital-light web companies?
Capital-light web companies are companies that don't require a lot of money to start and don't take a lot of time and resources to reach profitability.
Can I apply if I already have a company / product?
Yes, if you are already working on a product but not if you already have raised money. We only work with teams that haven't officially formed a company yet or will close down their current company and start a new one.
How much funding do you provide?
We provide $6,000 per founder, min two, max three founders. So, $12,000 - $18,000 per team in exchange for 5% - 10% of equity on entrepreneur friendly terms.
Does Shotput take a board seat?
No, Shotput does not take a board seat with the company. Often times, seed stage companies don't even need a board.
What if we need more funding?
We believe that the amount we provide should be sufficient to fund teams through at least the duration of the program (12 weeks), but recommended to last longer. At the end of the program some companies will be ready to start generating revenue, while others may decide to raise additional funding. We will help facilitate connections to angel and venture capital groups as companies reach this stage.
What else does Shotput provide?
We provide significant mentoring, teaching, and facilitate introductions to venture capitalists and angel investors.
What doesn't Shotput provide?
Shotput is not an incubator with office space.
Do I need to be based in Atlanta?
Yes, you need to be based in Atlanta during the three month program. Once the program is done, there's no requirement to stay, but we prioritize those that will stay in Atlanta.
What type of commitment do you require?
We require a 100% time commitment during the program so that teams can successfully launch their respective companies.
How large of a team can apply?
The minimum size team is two persons while the largest allowed team is three persons.
Do we need to have a technical person (programmer) as a co-founder?
Yes, all teams are required to be able to write their own code.
Do I need to provide a business plan?
No, a business plan isn't necessary. We're much more interested in the passion and talent of the team.
Can I submit multiple ideas?
Yes, multiple ideas are allowed but we recommend sticking to one or two.
Will you sign an NDA?
No, won't sign an NDA due to the large number of applications we receive.
Who does Shotput partner with?
Shotput partners extensively with Georgia Tech's ATDC -- one of the oldest and most successful incubators in the U.S.
