Call for applications: HAX Investment Program for Hardware Startups

The HAX program takes teams with hardware prototypes and turns them into functional, sustainable companies. We recruit 4-5 teams every month, typically with 2-5 entrepreneurs, who have a concept or an early prototype for a high-growth startup.
Application Deadline in 12 days
Eligible Countries | Regions | Cities  Worldwide
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The HAX program takes teams with hardware prototypes and turns them into functional, sustainable companies. We recruit 4-5 teams every month, typically with 2-5 entrepreneurs, who have a concept or an early prototype for a high-growth startup.
 
The teams go through a competitive application process and agree to locate themselves in Shenzhen for the duration of the program. Over fifteen weeks, they will build and refine their prototype product, launch to an initial group of customers (generally via crowdfunding), and test their delivery and/or business models. During the last two weeks, each startup creates a polished company pitch and demo to present to press, investors and potential partners at HAX Demo Day.
 
Following time in Shenzhen, teams will move on to grow their business, network, and skill set in San Francisco.
 
What Is The HAX Investment Package?
 
HAX is a VC, not an accelerator. We provide a comprehensive package aimed at setting you up for seed investment post-program.
 
We have three stages of investment, but are selective about how we deploy funds. Our yearly allocation looks like this:
  • 36 companies $100k – 5% common stock, 2% on SAFE ($50k cash + $50k services)
  • 24 companies further $150k – 8% on SAFE ($100k cash + $50k services)
  • 12 companies further $500k – up to 33% of a round lead by another party or syndicated by us (100% cash)
  • 6 companies further $1m USD – up to 25% lead by qualified VC (100% cash)
 
Please note that the $100,000 is an additional investment in-kind on our part and is not expensed to you from the $150,000. The help covers engineering, design, sourcing, business mentorship and prototyping infrastructure across Shenzhen and San Francisco.
 
How Much Equity Does HAX Take?
 
Between 7% and 15% initially. Our target is to be between 15-20% ownership prior to Series B for companies we truly believe in.
 
Application deadline: February 29th, 2020
 
Source: HAX

Sarcos ExoSkeleton presented at CES 2020 (credits: Delta News Hub / Flickr Creative Commons Attribution 2.0 Generic (CC BY 2.0))

Illustration Photo: Sarcos ExoSkeleton presented at CES 2020 (credits: Delta News Hub / Flickr Creative Commons Attribution 2.0 Generic (CC BY 2.0))

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If your organization published a call for proposals, call for projects or call for applications for Startups, Entrepreneurs or Researchers, we will be happy to publish your call free of charge on our website. We will also share your call on the social media (Facebook, Twitter, LinkedIn, PInterest, Tumblr, Instagram). Please drop your pdf files and/or your url link on our WhatsApp +85577778919 or email to us at info@adalidda.com

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Adalidda's Team

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