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PLANET43
FREQUENTLY ASKED QUESTIONS

WHO ARE ELIGIBLE for Planet43?

You are eligible if :

  • You are a founder or co-founder of a currently operating startup from anywhere in the world, open to taking investment into a Singapore entity, or Delaware entity.

  • You have a registered company to enter the accelerator phase of the program

  • You are focused on developing an early-stage climate technology within renewable energy, energy efficiency, low emissions technologies, or supporting technologies

  • You have or are progressing towards MVP 

  • You have some market validation through customer engagement or take-up

  • Have clean IP ownership

  • Can commit to participating in the program for its duration approximately 12 hours per week during the 10-week Accelerator phase

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If you have any questions around eligibility, please feel free to submit your expression of interest via our website and the team will get in touch to chat with you.

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WHAT FOUNDERS ARE we LOOKING FOR?

We are looking for founders and startups who:

  • Have a startup with a solution (TRL 5+) advancing the SDGs, which has raised less than ~$5M

  • Have the capacity to have at least 1 full-time founder fully participate in the program

  • Are committed to building a scalable business across JAPAC

  • Want to participate in an intensive modular program 

  • Want to learn new startup frameworks to practice and implement 

  • Are keen to access R3i's outstanding network of founders, mentors, researchers, investors and industry partners with climate tech, healthcare, and entrepreneurial domain expertise 

  • Could benefit from access to Microsoft and Nvidia support and infrastructure 

  • Have a vision for providing accessible & affordable solutions to transition to a net zero economy.

Focus areas includes (but are not limited to):

  • Climate technology within renewable energy, energy efficiency, low emissions technologies, or supporting technologies

  • Energy systems, storage & electrification

  • Recyclable materials, circular economy 

  • Resilience and adaptability of existing infrastructure to allow for the faster transition to renewable energy sources.

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DigitalHealth, Water,

Industrial Manufacturing, Agritech, Safety,

Security and Surveillance, Insurtech

What to Anticipate?

We understand that founders lead incredibly busy lives, and our primary aim is to ensure that every moment you invest in our program contributes significant value to your startup.


Here's a breakdown of what you can expect:

 

1. Time Commitment:

  • Approximately 4-6 hours per week dedicated directly to the program.

  • Engagement in programming through three weekly intensive sessions.

  • The majority of your time will remain focused on your startup.

  • Program activities will provide opportunities to actively work on scaling, commercializing, and expanding your startup's access to capital and distribution partners.

 

2. Program Intensity:

  • This program is designed to be intense and transformative.

  • We require at least one founder to work full-time on the startup and participate actively throughout the program, engaging in no less than 80% of the program modules.

3. Typical Weekly Schedule:

  • Devote time to working on your startup.

  • Hold a one-hour meeting with the Program Manager or Entrepreneur-in-Residence (EIR).

  • Allocate an hour for a meeting with your Navigator.

  • Engage in a two-hour workshop.

  • Dedicate 30 minutes to progress tracking and goal-setting.

  • Participate in events like "Meet the VC" and "How I Did It" Founder social gatherings.

  • Connect with fellow cohort members and take some time out for family and friends.

  • Occasional full-day workshops covering broad and valuable topics.

The program begins with an intensive onboarding process during the first two weeks, followed by a week-long bootcamp in the third week to kickstart your journey with a running start. Get ready for an exhilarating and rewarding experience!

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WHAT CAN WE PROVIDE TO STARTUPS?

Planet43 leverages the extensive network of mentors, partners, investors, and industry experts from our Coinvestors, ensuring that each startup receives robust support from a highly skilled team.


At the very least, every startup will be provided with the following resources:

1. Dedicated Entrepreneur in Residence, known as the Navigator:

Your Navigator is a seasoned individual who has walked in your shoes, having successfully grown at least one startup. They will serve as your accountability coach, guiding you through the ups and downs of the entrepreneurial journey.

2. Dedicated Lead Mentor and Access to Additional Mentors:

Your lead mentor may not have necessarily founded a startup, but they bring a wealth of skills and experience cultivated throughout their career. Their passion lies in giving back by supporting our founders in effecting change. Mentors play a pivotal role at Planet43. At the onset of the program, we host a mentor mixer, where the pairing of mentors with startups is a mutual decision. Your chosen mentor will meet with you regularly throughout the program, and many startups maintain this valuable connection for months or even years beyond the program's duration.

3. Program Managers:

Will Green, Program Manager, alongside the support of Guy Collier, will serve as your primary points of contact throughout the program. If you have any inquiries or require assistance, rest assured that they either possess the answers or can direct you to the right resources.

4. Capital Partners:

R3i Capital, Hatcher+, and Striders Corporation have joined forces not only to fund the startups participating in our program but also to collaborate with these startups throughout the program's duration. Their collective effort aims to assist startups in commercializing and accessing capital within their extensive global networks.

With this comprehensive support network, Planet43 is committed to nurturing and propelling your startup toward success.

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What is a Convertible Note?

A Convertible Note is a financial agreement in which an investor injects cash into a company, with the expectation of receiving shares at a later date upon the occurrence of a specific event, such as an exit sale, IPO, or funding round.


How it Operates:
- The investor and the investee company mutually determine a valuation cap and/or a discount rate.
- The investor provides the company with the investment amount.
- The outstanding Convertible Loan Note (CLN) is recorded on the company's capitalization table, similar to other convertible securities.

- When the triggering event occurs, the cash investment is converted into equity.

Who Utilizes It?

Convertible Loan Notes are primarily employed for investing in very early-stage companies, enabling investment before the company's valuation is established.- This tool is also valuable for investors seeking to swiftly invest in a company, especially in situations with intense funding competition. In such cases, investors may prefer to start negotiating and finalizing the valuation price immediately, especially when multiple investors are involved in a funding round.

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Companies who have passed their seed round will be valued based on current lead term sheet for follow on investment.

What are the R3i CLN Terms?
There are two tranches of funding that participants can access through Convertible Loan Notes (CLNs):


SAFE 1:
The investment consortium can invest up to $400K USD


If the Company:
- Has not previously secured external capital, the CLN will be issued at a post-money valuation cap of $1.5 million.
- Has already raised external capital, the Company, and our Coinvestment Consortium will collaborate to determine a post-money valuation cap.
- The CLN will incorporate a put option for each Founder and the Company.


CLN 2:
This tranche may become accessible based on the Participant's progress against the agreed-upon milestones, where R3i Capital and a Participant may opt to enter into CLN 2:
- The Investment Consortium can invest up to $1,500,000 with a "Most Favored Nation" (MFN) clause.
- The MFN clause implies that CLN 2 will automatically convert at the priced round, based on the terms of the most favorable CLN issued after CLN 1 but before the priced round. Super pro rata will apply.

Is it necessary to provide my patent for consideration when applying to the Planet43 program?

The program's prerequisite is that founders must possess intellectual property (IP) ownership rights, granting them the ability to commercialize it. Intellectual property can assume various forms, such as patents, trademarks, copyrights, trade secrets, or proprietary know-how. Our focus is on identifying startups with well-defined IP ownership structures who are ready to promptly delve into the exploration of commercialization and business prospects stemming from the utilization of their underlying intellectual property.

Is it mandatory for all founders to attend every session throughout the program?

The decision regarding which team members will predominantly gain from specific sessions is at the discretion of each team. Nevertheless, it remains crucial for founders to actively interact with incoming investors and have the chance to establish rapport with one another over the course of the program. It's worth noting that past participants have consistently reported positive outcomes from team-wide participation, as it facilitates team building, fosters alignment of perspectives and priorities, and strengthens the alignment with investors who are investing in the program. 80% minimum attendance is required to qualify for investment.

Must I have a patent or IP?

The program's prerequisite is that founders must possess intellectual property (IP) ownership rights, granting them the ability to commercialize it. Intellectual property can assume various forms, such as patents, trademarks, copyrights, trade secrets, or proprietary know-how. Our focus is on identifying startups with well-defined IP ownership structures who are ready to promptly delve into the exploration of commercialization and business prospects stemming from the utilization of their underlying intellectual property.

R3i is able to take investment into a Singapore, Dutch / Luxembourg or Delaware entity

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