eMerge Americas Accelerator + Showcase 2024

eMerge Americas is seeking the next wave of innovative leaders of tech ventures and SMBs

This is your opportunity to win $520,000 USD in investment into your company!

The 2024 eMerge Americas Accelerator + Showcase is joining forces with Florida Funders, Medina Ventures, and BIP Ventures. This year, we will also welcome Bloomberg Línea as our official media partner for our Roadshow. We will select 110 of the best startups globally through a competitive application process segmented into three stages (i.e. University Stage, Early Stage and Later Stage). These 110 startups will participate in a robust seven-week, virtual, acceleration program, which will culminate at an in-person, grand finale pitch competition. This competition will take place in person April 17-19, 2024, at the eMerge Americas global tech conference at the Miami Beach Convention Center in front of leading venture capitalists, corporate enterprises, global media outlets, and guest judges.

On a complimentary basis, all selected startups will be provided with two (2) tech passes and prime exhibit space (a combined value of $3,800) on the 2024 eMerge Americas expo floor within “StartUp Alley” to showcase their company over the course of the event.

The winning startup will have the opportunity to receive over $520,000 USD in investment and prizes. In addition, the winning University Stage startup will receive a $30,000 USD grant from 35 Mules, and innovation hub powered by FPL. Further, startups in each of the stages will be eligible to win more in-kind prizes that will be announced closer to the eMerge Americas conference.

As an organization that champions a diverse entrepreneurial ecosystem, 53% of the 2023 cohort consisted of minority/underrepresented founders.

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Startup Applicant Segmentation Guidance (in the Gust application, please self-select the segment that closest represents the stage of your company)

University Stage Criteria:
+ Students and/or recent graduates (up to 2 years) from any college or university
+ Minimum Viable Product (MVP) produced
+ Little or no revenue

Early Stage Criteria:
+ Minimum Viable Product (MVP) produced, a Proof of Concept established, or a commercially available product
+ Key team in place (minimum of 2 full-time employees)
+ Paying customers (not cash-flow positive)
+ No more than $2 million raised in angel or seed capital

Later Stage Criteria:
+ Commercially available product
+ Company generating consistent revenue
+ Management team in place
+ In growth phase
+ Have raised more than $2 million

Investment Terms
Selected startups for the Accelerator + Showcase have the opportunity to receive $520,000 USD in investment from Florida Funders, Medina Ventures, and BIP Ventures (the “Syndicate”). Below is a summary of the investment terms. Specifics may be varied to accommodate local law and custom but will be within the parameters of standard NVCA terms. Each investor will make an individual decision based on how well the company fits their investment mandate.

$520,000 USD SAFE Note Investment
After the winning startup has been chosen, the Syndicate will invest $520,000 USD in exchange for a standard post-money SAFE Note (“SAFE”), payable within 60 days after the event and subject to the company’s satisfactory completion of the Syndicate’s due diligence and a fully executed investment agreement.

Valuation Cap (*may vary due to each investor’s investment mandate and strategy)
The SAFE has a standard valuation cap based on revenue* traction of the business:

+ Pre-Revenue: $3,000,000 – $3,500,000 Post Money Cap

+ Greater than $0 but less than $250,000 ARR or Trailing 12-month revenue (“Revenue”): $4,000,000 – $5,000,000 Post Money Cap

+ Greater than $250,000 Revenue: Post Money Cap above increased by $500,000 for every $50,000 of Revenue above $250,000 of Revenue up to a maximum Cap of $9,000,000 – $10,000,000 (ie: a company with $500,000 in Revenue would receive a $7,500,000 Post Money Cap).

+ Businesses with more than $750,000 of Revenue: Subject to a $9,000,000 – $10,000,000 Post Money Cap

*Revenue will be measured by annualizing the total of the previous 3 months of revenue ending March 31, 2024. If the winning company’s Revenue includes the sale of goods, the Revenue will be calculated based on net revenue and not GMV.

Conversion at Qualified Financing
In case of an equity financing before the termination of the SAFE, the dollars invested through the SAFE will automatically convert into the SAFE preferred stock equal to purchase price divided by conversion price. The conversion price will be the lesser of (i) a 20% discount to the price paid by other investors in the qualified financing, or (ii) the price obtained by dividing the valuation cap by the number of outstanding shares of the company immediately prior to the Qualified Financing calculated on a fully diluted basis.

Preemptive Rights
Pro-rata rights to allow the Syndicate to continue investing in subsequent investment rounds of your company. This right is assignable to allow the Syndicate to participate in seed or later rounds. The preemptive right terminates when the investors in the Syndicate are granted the same or substantially similar preemptive rights issued in connection with a Qualified Financing, or upon the Company’s IPO or sale, if earlier.

Information Rights
Quarterly operating metrics, cash position, revenue, burn rate, runway, financial statements, and an updated cap table.

Participation in Program
eMerge Americas and the Syndicate have no obligation to continue the company’s participation in the Accelerator + Showcase event in which the company has been selected. eMerge Americas may, in its discretion, terminate the participation of the company in the Accelerator + Showcase any time prior to the end of such program without further liability or obligation.