FAQ

Have a question that is not answered below?

Please send us an email at info@pluseight.com.au and we'll be happy to help out.

What happens at Plus Eight?

Plus eight invests in and helps grow technology startups through a six month intensive acceleration program based out of FLUX, in the heart of Perth’s CBD. We invest in up to 10 companies, once a year, and offer a combination of seed capital, world class training, a purpose built workspace and access to our extensive global network of mentors, experts, partners and investors.

How are you different?

The Plus Eight program uses muru-D’s acceleration framework and combines both muru-D and Spacecubed’s extensive global networks to help early stage technology companies reach their full potential. The program aims to take full advantage of Perth’s time zone advantage to help take local ideas to a global market. ​The program is also supported by corporate partners that are leaders in their respective industries, including Telstra, Hawaiian, Vukelic Group and Seven West Media. The latter not only invest in the program but directly into the companies, which means they are invested in your success.

What does the ‘Powered by muru-D’ mean? How much interaction do we have with muru-D?

It is also worth noting that when you get accepted into the Plus Eight program, you become a muru-D portfolio company and get all the benefits that a muru-D company would get during and after the programme, including access to their entrepreneurs in residence, core team and alumni support. We find the network of alumni, muru-D, Telstra, Hawiian, Vukelic Group and Seven West Media offer significant value in opening doors and gaining early traction.

​​When will the application form for the next cohort be online?

Online applications will open on Tuesday 5th December 2017. In the meantime, check out whether you are eligible and read some tips on how to get application ready.

How much funding do the Plus Eight companies receive?

The companies that get accepted into the program can receive up to $40K in funding with the possible follow on funding through the program.

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

​The selection process is made up of three parts: online applications, interviews and a final bootcamp. We are looking for ambitious founders, working as part of a balanced team to solve global problems they are passionate about.

​How do I know that you won’t steal my idea? Do you sign NDA's?

​We do not sign NDAs, however we do include a commitment to secrecy in our application form. Please note that no venture firm would sign an NDA. NDA's should be irrelevant to driven founders. Your connectedness to the problem you are solving and motivation to solve it are more important to us.

Is my age a factor in your selection process?

No, age is not a factor.

​What will a typical day be like for a Plus Eight founder?

We require all founders to be in Perth for the duration of the program, and work full time on the company. There will be scheduled sessions/content during the week, including deep dives with the entrepreneur in residence(s) and masterclasses.

What sort of companies are you looking to invest in?

We do not have an industry bias, however we are especially excited about seed to series-A startups tackling global challenges in the following areas: Digital Health, Agtech, Proptech, Social Impact. As long as it’s technology, ambitious, solving a big problem - we want to hear from you!

We’ve already been working on our startup for a while. Is Plus Eight appropriate for us?

Plus Eight invests in seed through to later stage companies. In the 2016 Sydney bootcamp we had a company join the program with a valuation of $10M AUD and they will be part of Syd-4 cohort. Companies that have validated their product and have initial traction gain the most from the program, it's networks and international exposure.

We’ve already taken some funding. Can we still apply?

Yes, you can still apply to the program. The SAFE convertible note is designed to offer founder friendly terms that suit both early and later stage companies.

We don’t really need funding. Does it still make sense to apply?

Yes, the program is not just funding. The Plus Eight and the muru-D network offer value even to companies that have been funded. The key is gaining early traction and continueing your growth trajectory with the resources that you'll have access to. Also one of our aims is to keep founders in the driving seat, which is why we use a convertible SAFE note for funding and also advise founders on how to structure future raises in their best interests. It's all about building better founders.

I’m a single founder, should I still apply?

Yes, you should apply. We do however like to see that you are capable of leading and bringing other people into your vision. It can be a red flag if a founder is incapable of building a team of people that want to work with them. You will need a team to really take full advantage of the growth opportunities presented by the program.

I have a great idea for a startup, but I’m not technical. Will you still fund me? Can you help me find programmers to implement my idea?

We do like to see that you connect with the problem you are solving and have the ability to bring great people into your cause. You should have at least one technical founder in the area you are pursueing ie. BioMed, Aerospace, Computer Science, Agriculture Ect.

Do your fund companies that are competitive with each other?

We will make these considerations. However we believe great companies are taking on larger industry paradigms. Your competition isn't other startups but the larger global issues and market players you are taking on.

Can we do the program without moving to where you are?

Unfortunately not. To get the most out of the program the core team needs to be working from the space as a base of operations.

Do we have to start a company in Australia for you to invest in us?

We are happy to make considerations and have previously invested in Delaware corporation structures via muru-D. Feel free to contact us directly with your specific circumstances.

Do we have to be Australian citizens?

You will need to have Australian working rights to be part of the program, this may not necessarily be Australian citizenship.

I have relevant experience how do I become a mentor?

We are always building our community of advisors, mentors and entrepreneurs in residence. If you feel that you would match our vision and values for supporting startup founders and longer term vision. Please feel free to reach out via our webform contact.

I’d like to invest in startups that go through Plus Eight, is that possible?

Yes, we are happy to work with investors that see the potential of investing in startups and connect with our mission and values. Please feel free to reach out via our Webform contact and we can sit down for a coffee.

I’m visiting Perth, can I visit Plus Eight?

Certainly, if you're part of the Plus Eight and muru-D family or otherwise please reach out via our contact form.

We don’t want funding, but will you give us advice?

Sure, our vision is to support great founders and startup ecosystems, feel free to reachout via our webform and we can see what we can do.