• All applications will be evaluated on a rolling-basis, until the submission deadline.
• Applications will be assessed by a panel based on the criteria outlined in the What We are Looking For section of the website.
• The evaluation team may request additional clarification or information on your idea or application after submission. If this is the case, you will receive a notification through the submission platform, with instructions on how to respond.
• Following evaluation, a group of up to 20 semi-finalist teams will be selected to pitch their metaverse idea to a group of experienced start-up investors. The semi-finalist teams will also be eligible for mentoring with an assigned mentor and/or virtual coaching sessions to work on their idea in preparation for the pitch. Semi-finalists will be contacted by the evaluation team with an introduction to their assigned mentor/coach.
• Following the initial pitch, semi-finalists who most impressed the start-up investors and had the strongest metaverse ideas will be selected to attend a final pitch.
• All Semi-Finalists will be subject to due diligence and you may be required to provide us with additional information to assist with this.
• Following the final pitch, up to 4 winning teams will be announced to participate in the Venture Studio program.

If you are selected as a semi-finalist, your venture/team will have the opportunity to receive mentoring with an assigned mentor and/or several virtual coaching sessions to refine your presentation ahead of the pitch day.

This mentoring and/or coaching will help you to further develop your venture idea and refine your pitch. Characteristics of the mentor and/or coach may include, for example, being a former CEO or Operator, former and/or Venture Capitalist, or Angel Investor. Your team will work directly with your mentor and/or coach to set up the appropriate virtual sessions at times that work for you. We typically suggest at least 3 sessions prior to the Pitch Presentation.

You are not required to receive mentoring or coaching in order to remain in the competition. This is an optional benefit provided and you can choose whether you follow the guidance given in the sessions or opt out of the sessions completely.

Specific details and further instruction will be provided by the end of March 2023 if you are selected as a semi-finalist.

You should expect to receive a response regarding any next steps in March of 2023. This may be a request for additional information to evaluate your idea, or feedback on the fit of your submission within the Venture Studio.

Yes, you may submit multiple entries for consideration. However, only one venture or idea per team will be able to move forward into the Venture Studio.

Once you have submitted your idea through our venture competition portal, you cannot edit or change the content.

In submitting an idea, we assume that you and your team plan to develop the venture into a real business.

No, each idea submission must have at least one contact name attached.

Please answer every question to the best of your ability. We understand that some ventures will come in various stages of maturity and the length or completeness of an application does not necessarily indicate quality.

Some questions allow applicants to submit attachments, but attachments are not required in order for an application to be considered. The questions that allow attachments set out the size limits for attachments. If you plan on submitting an attachment, please submit in PDF form.

Please fill out the submission form in its entirety, and feel free to attach any existing pitch decks you have already developed.

Every question has word limits that have been carefully considered. Please complete the fields of the form to the best of your ability within these limits and remember that all investors appreciate concise elaboration of key points.

Please complete the fields in English; non-English submissions will not be considered.

Our goal is to prepare ventures completing the Venture Studio program into healthy, scalable businesses capable of raising seed financing. In order to do this, during the Venture Studio program, participants will have access to start-up experts, mentors and advisors to assist with (amongst other things):

• developing the metaverse idea from the customer point of view;
• if appropriate, developing a digital prototype of the metaverse idea;
• designing the right business model and strategy to generate revenue from the metaverse idea; and
• preparing for possible pitch meetings for seed funding at the end of the Venture Studio program.

Acceptance into the unique and intensive Venture Studio program is the key outcome and prize of the competition. Any required and approved travel as part of the Venture Studio program will be reimbursed, provided such expenses comply with our policies.

Participants will have access to startup experts, mentors, advisors, and a proven venture-building program that will help them build their venture from the customer point of view.

There are no criteria regarding team size for the Venture Studio program, but we typically expect that participants will have up to five team members, each with a critical skill or expertise to contribute to the development of the idea (e.g., go-to-market, engineering, business/finance, product, etc.). Initially, every team member will contribute to the foundation of customer development for the envisioned venture.

If your venture/team is selected to move forward, the mentoring and/or coaching you receive will take place at a time suited to the members of your team. It is possible that select activities (e.g., a preparation webinar) might take place outside of your normal working hours, but the Venture Studio program team will assess what is most appropriate, based on the composition of the teams globally.

We appreciate that your intellectual property is important to you. If you are selected to participate in the Venture Studio program, you will be asked to confirm the ownership and treatment of intellectual property rights as part of the additional documentation which must be completed in order to participate in the Venture Studio program. Participation in the competition and the Venture Studio program will not operate to transfer any intellectual property rights from you to us or to transfer any intellectual property rights from us to you for the duration of the competition and the Venture Studio program.

Yes. If your idea is selected for the Venture Studio program, we can work with you to help recruit additional team members to develop the idea.

At this time, the Venture Studio is designed to help participant teams build sound milestone-based business and operating plans, based upon solid designed-centered customer development and digital concept exploration. During or following completion of the Venture Studio program, we may ask participants if they are interested in receiving an investment. Any investment will be subject to due diligence and the completion of appropriate documentation.

Each team member who is invited to participate in the Venture Studio program will be required to execute certain documents as a condition of participation, including but not limited to a non-disclosure agreement, non-solicitation agreement and an intellectual property rights agreement.

Our Venture Studio has methodologies and tools to conduct an incubation program in person, virtually, and on a hybrid basis. Depending on the evolution of the venture competition, we may suggest in-person cohort-based participation with other selected teams, and/or hybrid physical/virtual attendance. Regardless of the approach, this is an intensive and immersive experience.

After a successful Venture Studio program, we may ask participants if they are interested in receiving an investment. Depending on your idea, we may have a view on the location of any ongoing business venture. This will be discussed with participants. Considerations typically include where the team currently resides and the location of any probable pilot customers, etc. As with any business, at some point in your growth the location of the venture’s offices may change to optimize for success.