What is NEXT? NEXT is The Kitchen’s own accelerator. In NEXT we offer more, and we expect more. Everyone involved in NEXT are tuned to help the entrepreneur and the startup to reach the next level.
The entrepreneur can freely access a bunch of resources such as:
- Attractive masterclasses such as Goals coaching, Teamwork, Due Diligence, Advisory Board, and Funding
- An active, strong and caring peer-to-peer network
- Access to external expert mentors
- Paid work as a buddy in The Kitchen’s buddy program Ignite
- Access to (shared) office
In the case where qualified applicants supersede the number of offices, we are not able to grant each startup its own office. However, there are vast opportunities for workspace in other areas of The Kitchen.
Your startup is enrolled in NEXT for 1 year with the opportunity to apply for additional 6 month. An extension period of 6 month will depend on the likelihood of the startup to develop further within those 6 months.
FOR PROMISING STARTUPS AND ENTREPRENEURS
NEXT targets ambitious entrepreneurs who actively seek to create their own job and who communicate high and realistic ambitions. The entrepreneur has a deep and nuanced understanding of the customer’s and the user’s needs as well as credible reflections regarding potential business models and entrance in the value chain. In order to enter a credible dialogue regarding the above-mentioned topics, the entrepreneur must be able to point to numerous meetings and conversations with actors that will influence the startup’s market entrance. NEXT is also for social entrepreneurs who work towards a financially viable startup.
We know that each startup and each founder have various needs, and we constantly seek to create the best conditions for each individual startup and founder. That is why we are reluctant to apply “one-size-fits-all” principle to our activities. That being said, we find that some issues are generic across startups, and we seek to proactively help you as an entrepreneur tackle these issues.
GOALS COACHING (MANDATORY)
Purpose: The purpose is to help founders stay focused, develop goals, setting skills and to make sure that there is alignment between the startup’s long-term visions and the short-termed activities.
Format: A group of NEXT-startups meet physically with goals coaches (startup advisors from The Kitchen).
Everyone openly shares, discusses and adjusts goals that are to be set for the next two weeks, and we reflect – as a group – why the set goals were met or not.
Purpose: “An A-team with a bad idea will always beat a B-team with a good idea”. The purpose is to create a space for each startup to reflect upon the common cause of the company, creating a strong culture, and find and release a clear set of values. You will work curiously towards creating a sustainable team, and you will reflect, listen, learn and talk through structured dialog and tangible tools for you to use in everyday life of the company.
Format: Two group sessions + individual sessions with professional coaches from Mind Your Talent. Besides helping entrepreneurs, Mind Your Talent coaches professional sport athletes reaching their highest potential.
DUE DILIGENCE (MANDATORY)
Format: One on one sessions with lawyer and accountant + class. A lawyer and accountant will present the do’s and don’ts of ownership agreements and the establishment of an ApS. Bring your own ownership agreement and have it revised, or get started with creating your first one.
Purpose: Due diligence is a process in which all aspects of a company is put on the table and analyzed in order to find out what a company really is worth. A buyer of a company will (or at least should) perform a due diligence in order to know exactly what she/he is buying. A lawyer and accountant will conduct a “Due Diligence” on your startup with emphasize on ownership agreement and where you are in the process of establishing an ApS. The purpose is to have you all set – on at least these two aspects – before building your company further.
Note! If you do not have a signed ownership agreement when entering NEXT, we will require you to have one signed within 6 months after being accepted to NEXT. The Kitchen’s lawyers will assist in the process. If you have one, we will strongly urge you to revise it to make sure it is up to date.
ADVISORY BOARD (STRONGLY RECOMMENDED)
Time: 3-4 times throughout NEXT. Based on your invitation
Format: Advisory boards where external mentors, startup advisors from The Kitchen and the founders participate. Advisory boards are the founders’ own meeting, meaning that she/he invites to the meeting, prepares practicalities as well as written material prior to the meeting, leads the meeting and writes a short summary that is distributed to the participants after the meeting.
Purpose: The purpose is that you gain experience in dealing with external people who hold resources, expertise and network that are valuable to you. An advisory board is similar to an official board. Therefore, it is also valuable training in dealing with a board, which you will establish in the near future.
Format: Mix of class and one on one sessions.
Purpose: The purpose is to give your startup the best possible odds for success after NEXT, by securing the financial situation.
HOW TO APPLY FOR NEXT
Applications to NEXT are received on an ongoing basis with application deadline by the first in every month. Find an application form at the bottom of this page, and submit it to Annette Braad Christensen (firstname.lastname@example.org). Based on the application, you may be invited for an interview. At the interview you are expected to present a 10 minutes pitch covering important aspects of the startup. Also, involve your startup advisor in The Kitchen to clarify whether it is the right timing for you to apply for NEXT.
You are enrolled in The Kitchen, meaning that you have attended Founder’s Gate, and have been assigned a startup advisor. You have participated in The Boiler. In addition, the following criteria apply.
Show commitment – through action – to realize the idea.
(Take initiative that leads to more knowledge, acquire resources, network, develop product/service.)
Capable of acquiring relevant knowledge and/or other types of resources.
(Possess relevant resources internally such as team, competencies, technology, experience, access to laboratory, or has a trustworthy plan to acquire such.)
Hold a solid fundament for further startup-development.
(Clear value proposition and clear customer segment supported by indications from external players such as statements, collaboration agreements, letter of intent, sales, etc.)
Hold high and realistic ambitions.
(High ambitions rooted in the points above.)
(New solution to an old problem, old solution to a new problem or new solution to a new problem.)
Potential for impact in society.
(Reflect upon how your startup affects the surrounding society in a positive or negative manner. The SDGs could be a guide.)
Pay it forward.
(Helpful attitude towards others, willing to share knowledge and experiences. Takes initiative in The Kitchen.)
Startups with less degree of novelty, and that already have reached a product-market fit (or are close to it) will be assessed with additional criteria:
- Is the startup scalable and do the strategic choices made indicate a desire to scale?
- Potential to increase market shares nationally and/or internationally.
- Increased revenue, new customers, received funding or other indications of growth.
Why can’t you guarantee that my startup will get its own office space for all my interns, employees etc.?
The office space is not the most important aspect of NEXT. We are of course aware of the benefits of having an office. However, as The Kitchen are ramping up the activities, more startups seek to become members, and more startups will apply for NEXT. If you are accepted into NEXT, you should, prior to entering NEXT, consider how your team can make use of the other work areas in The Kitchen as well.
We do acknowledge that you have other mandatory activities and respect your mandatory educational activities. NEXT is an intensive program that will require both time and effort. Consider your priorities. Do you have other non-university activities such as spare time jobs or other obligations that can be put on hold for a while? Also, some of the mandatory activities may not require the whole team to join. For example, Goals coaching requires only attendance from one of the founders. Reach out to us (email@example.com or firstname.lastname@example.org) if you cannot make it, and we will sort it out.