Before MEGA
Who is
MEGA for?
MEGA is for people who would like to create a product or service for global
markets using software, web, and or mobile. If you:
- Are skilled in the fields of creativity, technology or business and would
like to work with others with complementary skills
- Are a student, freelancer, employee or employer
- Have an idea for a concept or want to create one
- Have a team already or want to form one
then MEGA is for you.
What can I get from MEGA?
Different
people look for different things so it might be one or more of:
- Build on your current skills, get new skills
- Experience in collaboration, team working
and project/product development
- Collaborate with motivated, skilled and like-minded people
- Access to experienced business and start-up mentors
- A MEGA, MEGA community of support
- Improved job prospects
- A new company
- Fabulous Prizes – a variety of merit based cash and
services prizes – assessed by peers and industry.
What do I need to bring to MEGA?
- Enthusiasm, energy and an attitude that helps you make the
most of opportunities
- Creative or technical or business skills
- An idea or willingness to work on someone else’s idea
- A team if you have one (if not we will help you to make or
join one)
- 1 night a week (Tuesday) plus time to work with your team
and mentor
Can I apply an an individual or is it for teams only?
Youcan apply as either a team or an individua
l . If you apply as an individual we match you with other individuals or teams so you can make the most ...
Do I need to have an idea for a project before I join MEGA?
It's fantastic if you come to MEGA to pursue an existing idea, but it isn't a requirement. In fact you might find after you start your initial idea isn't the one you end up running with.
What if I can't afford the fee?
In case of financial hardship there may be some assistance available. You will need to make that case in your application.
How is MEGA different to a startup incubator, a Hackathon, or a business plan competition?
MEGA is a program that we think fills the gaps between a Hackathon like “Startup Weekend” and a Startup Accelerator such as InnovyzSTART – it allows participants to gain the practical experience, over a 6 month period, of taking a concept to potential commercialisation/realisation and building a solid team.
Why should I apply for MEGA?
In a short space of time you will develop the skills and networks which will add value to your future – whether it’s your own start-up or as a highly valued employee.
How do I apply for MEGA?
Just fill out the form online at www.mega.org.au /apply
How many applications will you be taking for MEGA?
Unlimited.
How many spots are there in the MEGA program?
16 to 25.
What is the selection process?
An industry panel will rank applications based on skill sets, experience and motivation to succeed.
Why is a selection process important?
We want our participants to be able to complete the program and to take advantage of the experience, the in kind support adds up to well over $100,000.
How will I know if I am successful with my application?
We will email you.
When will successful applicants be notified?
By Friday 7th June 2013.
How do I pay?
If you are selected, you will be sent an invoice and can choose bank transfer or credit card.
How long does the program last?
From Tuesday 2nd July 2013 to Tuesday 10 December 2013 (one night per week). 20 Weeks total.
Where will the MEGA program be held?
Majoran Distillery, Level2, 14 Grenfell Street, Adelaide
What days and times will MEGA be held?
Workshops are Tuesday evenings from 5.30 to 8.30pm. To gain the most from the program, you will need to meet with your team and mentor outside of workshop times.
What is the cost of the program?
MEGA is a premium program. The cost is $550 per individual, $440 per individual (if they have a team) or less with subsidies and discounts.
What are the fees used for?
Your fees contribute to venue hire, catering and all the other costs associated with running MEGA.
Is food included in my fees?
Yes, we provide a light working meal and refreshments to keep up energy levels. We also have a lunch at Pitch Day for panel, supporters, guests and participants.
What are my refund options?
Refunds are available if you withdraw less than 3 weeks into the program.
Who is running MEGA and how can I get into contact with MEGA?
A group of industry leaders manage MEGA and Peta Pash is the contact person on their behalf: peta@mega.org.au or 0411 421 619.
Can I apply with my existing business?
If your business is about digital products or services you can bring it to MEGA. You will need to bring a team with you or form a team within MEGA. Only teams that meet the required standard at the end of the program may pitch at Pitch Day.
What is the course structure?
The course runs over 6 months (20 weeks.) See http://www.mega.org.au/program/ for more details.
What if I don’t have an idea?
If you demonstrate in your application a relevant skill set and the motivation to give it your best you don’t have to have an idea. We are looking for individuals that can execute and are looking to take their idea to the next level.
What if I don’t have a team?
We will assist you to form one with other participants.
How do I protect my idea from people stealing it?
Each participant, presenter and mentor signs a Confidentiality Deed Poll which is like a group Non-disclosure Agreement.
How do teams address the issue of IP?
Advice is provided early in the program – teams then make and manage their own decisions.
What resources/assistance is provided?
Presenters and mentors provide advice. Each team is eligible for one hour of free legal advice from Adelta Legal.
Who are the mentors?
Mentors will be announced. Keep an eye on this website for announcements.
Who are the judges?
Pitch Panel Judges will be announced. Keep an eye on this website for announcements.
Who are the speakers?
Speakers will be announced. Keep an eye on this website for announcements.
What are the prizes?
Peer-assessed prize: $ 5000 cash
Best written Business Proposal: $1000 cash
Best Social Innovation: $1000 cash
Best pitch (selected by Pitch panel): (TBA)
Majoran Distillery co-working space 6 months full-time worth $5,400
Swayve
wil provide its media hub with 3 months of social media marketing and PR
services valued at $5,000
News Australia is providing a $20k digital advertising package and a digital account manager to structure the media planning.
Keep an eye on this website for more announcements.
Who is MEGA for?
Anyone with creative, technical or business/marketing skills and motivated to build on these skill in collaboration with others to create new, competitive digital products and services – in start-ups or existing companies.
Who is MEGA not for?
Anyone who doesn't fit in the "Who is MEGA for"! Particularly those not willing to collaborate with others, those not willing to take advice and those not willing to make the most of the opportunity.
Besides mentors, what resources do I get access too?
Other participants, presenters, online community and MEGA alumni.
If I were to do this alone, without MEGA, how much would it cost for me to hire these mentors, how much time would it take me to work i
t out alone?
Firstly, you would need to know what questions to ask and then how to find appropriate mentors (usually you don’t know what you don’t know.) If you were to pay consultants for an equivalent program it would cost you a great deal more. The cost of MEGA is $880 per individual, $550 per individual (if in a team) or less with subsidies and discounts. This works out to be under $12 per hour or less. MEGA provides far better economies of scale, plus providing a supporting, accountable environment to help you succeed.
What is the purpose of the pitch day?
To launch your concept to potential investors and industry in a compelling and engaging way.
Are the sponsors on the judging panel?
No, but they are invited to attend.
Are there milestones which I would have to complete each week?
Yes, teams are expected to present their progress on weekly deliverables at each workshop.
How will I stay motivated and on track?
We have inspiring presenters, mentors and other participants. It’s a motivating environment but the outcomes will depend on you.
Will I be investor ready on pitch day?
That depends on you, your team and your concept. But, if it is, you will be in a very good position.
I’m interested in social innovation, is MEGA for me?
Yes, we have had a number of social innovation concepts in the past and in response to their feedback we now have a social innovation prize.
What are the outcomes of MEGA?
The main outcomes are, creating viable startups, gain funding, creating new jobs, and building supportive networks.
During MEGA
What should I bring during the program?
Energy and enthusiasm and a laptop and/or paper and pens for notes and brainstorming.
How do I best prepare?
By applying what you learn each week to your concept with team members.
What are teams meant to accomplish or present and for how long?
Each team presents a 5 minute pitch and written business proposal for their concept (provide to the Pitch Panel a week before the pitch.)
What are the judging criteria?
Winning teams will be judged on the how well they address the following criteria:
- Customer Pain or Problem being solved
- Was the market size, growth, and compelling customer need well explained and convincing?
- Was the description of Product or Service well explained and understandable? Does it address the customer need?
- Strategic Value with Robust and Realistic Financials with a suitable Exit Strategy?
- Stage of Development (Idea/Prototype Ready/Early Stage Revenue/Cash Flow Positive / Expansion Capital Required). Did the Product or Prototype work?
- Sustainable Competitive Advantage
- Identifiable and suitable Path to Market or Distribution Channel.
- Team strengths, composition, passion, commitment and ability to execute.
- Overall Presentation
- Clear and Concise
- Addressed the audience
- Confident and Engaging
- Emotional Hook
- Good use of Available Time
After MEGA
Do teams continue after MEGA?
Around 50% continue with their concepts.
Is there post-program support?
Yes, when you become part of the MEGA community (over 400 strong.) We keep you informed of opportunities and continue to refer you to people/places that might be of assistance.
What are some success stories of teams from previous years? Who were the winners? Where are they now?
- Odd Games (http://www.oddgames.com.au/) (MEGA 2011) have launched their successful first game and are now developing a game for a high profile American basketballer
- Fit Us In (MEGA 2012) were accepted into the ANZ Innovyz Startup program.
- SirenUs (MEGA 2011) and Semantic Sciences have signed an agreement to collaborate in the development of the Sirenus social media monitoring tool for emergency management and disaster relief.