Introduction
MiraclePlus organizes the two 3-month Accelerator Program in Spring and Fall
We first invest in the selected projects and then start the program. Many people ask us this question, but we don't do FA business
The Goal
The goal of the program is to help early-stage startups really "take off"
The startup teams joining the program are at different stages—some have not yet established a company, some have been in operation for several months, some have already produced samples, and some have already worked well
However, no matter what stage you are in, the goal of the program is to make you "transform" and really "take off" when you face a thousand investors in three months, compared to before entering the program
Funding
MiraclePlus takes the initiative in investing in every company that has passed the screening and joined the program
We invest USD300,000 (or RMB equivalent) in exchange for 7% of the company's equity. If your start-up is not in Mainland, China, then our investment can be made on SAFE (Simple Agreement for Future Equity)
This investment represents our strong commitment to standing by founders. It is also an effective means to strengthen the connection between them and the MiraclePlus Alumni Community. We don't consider ourselves "investors", and we know how difficult it is to start a business and how hard it is to raise capital. Therefore, we want to give every founder the best investment terms available in the market
Not only do we invest in supporting startups, but we also help each of them continue to receive financial support in the market through Demo Day and other means
Closed-door Sharing
We arrange closed-door sharing with guest entrepreneurs during the two-day group activities every two weeks in the program
During the program, we invite two guests every other week to share and communicate with the founders face-to-face. The guests are usually entrepreneurs who have successfully started their own businesses. The themes of the sharing are mainly stories sharing, experiences, and reflections on their own entrepreneurship
We have invited many "big names" to come here to share with us, such as Zhang Yiming, Lei Jun, Zhou Hongyi, Ding Lei, Li Xiang, and other well-known entrepreneurs
It is worth mentioning that the guests we invite are big names with frontline entrepreneurship experience. At the same time, these events are completely closed-door sharing. No video or audio recording is allowed, so as to ensure that the guests can speak without reservation about what is really helpful to founders
In the batch, big names share the obstacles they encountered, the enhancement of agilities, their profound insights, and the direction of their efforts. Through interacting with them, founders can learn a lot from these relatively successful entrepreneurs. These sharings can also bring great inspiration and provide guidance to founders in the future
Office Hour
The program consists of group activities where all startup teams participate together, and individual activities where founders have 1-on-1 communications with us
We believe that starting a business is quite like getting a Ph.D, as both are to solve problems that have not been solved. Founders have one-on-one discussions weekly with partners on existing issues and problems, just like they had office hours with their mentors at the university
This is where we spend the bulk of the time in the program. Most of the topics discussed are up to the founders. Products, marketing, sales, financing, recruitment, management, strategy... Whatever the problem is, we give founders ideas and suggestions to help them solve the problem like a co-founder
Group Office Hour
Founders are lonely. However, in the batch, you would feel that you are in company with a group of confident founders
Group office hour gives you the opportunity to exchange ideas and discuss with various founders in the same industry, making similar products to yours, and those from upstream and downstream supply chains. Everyone shares solutions and experiences for the same problem, gives suggestions and feedback to each other, and has heated discussions. Here, you can experience excitement caused by competition among classmates and rapid growth
Demo Day
The end of the camp is our Demo Day, which is also regarded as the graduation ceremony
On Demo Day, you can see top VC investment firms and angel investors in China. Thousands of investors were present on every Demo Day we held before. On Demo Day, you can present your project on stage like a star. You will be followed with interest by hundreds of investors until there’s no space for new contacts in your Wechat list. This would greatly improve the speed and efficiency of your funding
Demo Day is a major event of MiraclePlus. There are no specific requirements for the content presented by startups on Demo Day. Before the three-month program started, the startups we funded had been at different stages, and some completely changed their ideas afterward. Therefore, the goal of Demo Day is to get startups to present their products and services on stage as convincingly as possible
During and after Demo Day, founders are free to have more in-depth conversations with investors. The goal of startups is to introduce themselves to everyone. In most cases, a series of meetings would be arranged to persuade investors to close investment
Bootcamp
During the program, we usually hold a two-day Bootcamp. We would invite partners or external professional guests to give lectures and share in different fields that fit current alumni's needs. Topics that have been discussed include funding, GTM and sales, corporate culture, government relations, equity incentives, recruitment, etc
Product Presentation Day
During each accelerator period, we also have internal and external product presentation days
The internal product presentation day is approximately two weeks after the opening of the batch. All startup teams can present themselves to other participants for the first time on this day. The goals of the event include: (a) getting to know each other's projects and seeing if you might be able to help, and (b) getting founders to start thinking about how to present their projects. Certainly, at this stage, founders still focus on developing products instead of presenting projects, so we would help to reduce their pressure. No one outside of the startup teams is able to watch the internal product presentations
The main purpose of the external product presentation day is to help connect our alumni with the right customer resources. On the product presentation day with themes of car companies and metaverse, we invited all relevant domestic major manufacturers to watch the presentations of our alumni startups. In addition to sharing resources, another important purpose of the day is to exchange innovative ideas, so that our alumni companies can also learn something new from the exchanges among these guest companies
Alumni Community
As more and more start-ups have been invested in by MiraclePlus, the value of the alumni community network is becoming increasingly important in the services we provide. The more start-ups we fund, the faster the alumni network develops
Our alumni network is powerful not only because of its size, but also the steadfast commitment made by its members to help each other. This commitment is originally derived from our attempt to encourage the spirit of cooperation in each batch of projects. Entrepreneurship can be very lonely, so one of the goals of our program is to solve this problem, that is, to provide the founders of companies with only 2 or 3 members with proper colleagues
When founders entered our program, they do many things to help each other, such as becoming internal beta users of each other's products or helping with professional knowledge. They may become good friends later. Many of the founders' closest friends are those who worked with them in the batch, just like developing friendships at school
We encourage the spirit of cooperation among us, which comes very naturally. Once we realize that this is happening, we start to encourage it so that connections are made between startups and alumni who can boost startups further