FAQ

We’re trying to be as open as possible about the O2 Incubator Project. Our frequently asked questions are below, but if you still have further questions then please email faq@o2incubator.com

What is the focus of the O2 Incubator Project?

O2 has lots of experience in small businesses, their needs and challenges, and what is required for them to grow into successful organisations. Lots of small businesses rely on O2 for their communications, but small businesses don’t just want to talk. They want to use communications to help them win more new business, better engage with their customers, and refine their business process to increase their income.

The focus of the O2 Incubator Project is on small businesses and the developer’s application should reflect their ideas in this area. We are particularly interested in ways for customers and businesses to rate each others’ services.

Is there a deadline for applications?

Entries for the O2 Incubator Project are now closed.

How much seed funding is available through the O2 Incubator Project?

The principle is that we will sponsor a number of start-ups for an initial period with a monthly allowance, one of which will qualify for extended funding in consideration for having an option to buy the business for up to £1 million at the end of 12 months. It’s simple, we seed the idea and you do the rest.

Is the monthly allowance enough to cover salaries, office space, etc?

Yes, the allowance will cover a salary agreed between O2 and the successful applicants. The provision of office space is to be confirmed, but will depend on the final salaries and requirements agreed with O2 and the successful applicants.

What happens if O2 choose not to buy a company after 12 months?

The contract between O2 and the company come to an end and the applicants are free to do as they wish.

What happens if O2 chooses to buy a company after 12 months?

O2 will enter into a discussion with the company to discuss the exact details of the acquisition.

Are the founders required to join O2, or would it be an IP acquisition?

The founders of the company are not necessarily required to join O2 and it could be an IP acquisition. Of course, great people are always needed at O2. Part of this project is about working with great people.

What happens if, at the end of the 12 months, the founders have a better offer on the table?

By entering into the incubator, the founders agree to give O2 first refusal. The start-up is free to attract other offers.

Do O2 own a share in the business? What %?

There will be no equity stake at the beginning. This will be discussed at the end of the first year, if the company is successful.

How much will O2 be involved in the management and day-to-day running of the developer’s projects?

Not very much. We intend to be hands off of the creative process. However, we believe that our active involvement could help to create value, so we look to work with the teams to maximize the impact of our investment and their technology or innovation. Think of the capabilities of O2 as being at your disposal, including our customers.

Will you require your developers to use O2 products?

No. We will provide support where necessary to help the teams of developers grow their projects, but this support does not necessarily involve any commercial agreements with O2.

Can I apply O2 Incubator Project if I live outside of the UK?

The O2 Incubator Project is only open to developers eligible to live and work in the UK at this time. As we are a small team, this allows us to focus on innovation happening in close proximity to us. This might change in the future.

Our project has been running for a while. Are we still able to apply?

Yes, but we are only looking for a number of startups in 2-3 people teams.

I have a great idea for a startup, but I’m not a developer. Will you help me find developers to implement my idea?

No. In order to run the project as effectively as possible we will only be supporting developers who do not need additional technical training or resources.

Our group of developers has more than one idea. Can we submit several applications?

One application is fine, but feel free to propose more than one idea.

What technologies can we use?

Any of the scalable web stacks will do (e.g. LAMP, LAMR etc). This is expected to be primarily a web project, but you may wish to think about how to extend it to mobile. But it is not a mobile-only app.

What about hosting etc?

This is getting into the details at this stage, but any hosting will work for us. This is your concern. There are no O2 guidelines, unless and until this goes commercial. You run it like you would your own start-up – well, it is you own!

Will there be any requirements?

No. This is not a typical O2 waterfall project. There will be no requirements document. Pretty much most of the scope for this initial incubation is as we’ve described it above.

How many start-ups will you incubate?

We’re looking for a number of start-ups for an initial period, one of which will qualify for extended funding.