Pre Seed Seed PlanetN Portfolio Relationships About Faqs Resources Investor Relations

FAQS- Investments and General

An incubator doesn’t take equity or charge it’s “portfolio”. Incubators typically focus on nurturing founders to take the leap into entrepreneurship, hence why they’re usually operated as non-profits or government/social ventures operating with grant or sponsor/donor funds.

An accelerator provides funding and receives equity in each portfolio, just like an investor. Accelerators focus on their portfolios reaching product/market fit with growth in revenue, users/market share or technology IP. Accelerators are usually operated as investment firms, hence why they’re funded by angel or professional investors looking for a return on their investment

10xC provides seed funding, advice and shared services to entrepreneurs working on ideas or concepts towards validation of product/market fit. 10xC makes $10,000 investments into a large group of ideas or existing startups for equity. In exchange, 10xC provides product & distribution resources from within the PlanetN Group of Companies to help our portfolio grow revenue, users/market share and IP as fast as possible during the accelerator program.

10xC is the first-of-its-kind venture in Pakistan in a few ways:

  1. The only incubator or accelerator in Pakistan providing funding instead of grants/sponsors.
  2. Our Group has written more investment checks via PlanetN and 10xC in 2016 than any other individual or professional investors.
  3. The only incubator or accelerator in Pakistan that provides access to it’s own Marketing agency and Software house at cost, thereby beating any other quote our portfolio can receive for services needed. Those don’t include the other 14 companies in PlanetN.
  4. The only incubator or accelerator in Pakistan founded by a team with experience building and selling tech companies, locally and abroad.
  5. The only incubator or accelerator in Pakistan founded by a team with experience investing in tech and non-tech companies.
  6. The only incubator or accelerator in Pakistan operating it’s own Venture Capital firm and venture fund.

PlanetN Group consists of 16 established companies that have been invested in by Nadeem Hussain. 10xC is a PlanetN Group Company. PlanetN owns equity in 10xC and 15 other companies, including e-commerce, fintech, edutech, adtech, engineering, renewable energy, retail, shipping and logistics. 10xC serves as PlanetN’s venture capital arm, managing investments sized $10k - $500k through the accelerator and follow-on fund.

The main PlanetN Group companies that assist 10xC portfolios are Well.pk, Ordercall/Trader Services, Karlocompare, Starcrest Communications, Evantagesoft, Tapmad, Datalift and more.

Must be a tech (software/hardware) company.
Must have a Technical Founder on the team.
Must be incorporated or will be incorporated in Pakistan (we do not fund foreign companies at this time).

For the accelerator program ($10,000 for 20%)
February 2017 cohort will start accepting applications in November 2016
For our seed fund ($50,000 - $250,000 for 25-50%) 24/7/365

Factors we consider:

  1. Team – Can they get the job done?
  2. Market – How much of your market can you realistically capture?
  3. Timing – Are people ready to pay for your product/service?
  4. Traction
    1. Revenue – Is the company making money?
    2. Users/Market Share
    3. Intellectual Property – How hard will it be for a competitor to copy their technology?

Applications are reviewed by an Investment Advisory Committee made up of 5 people: Nadeem Hussain, Saif Akhtar, Furquan Kidwai, Yassir Pasha Imran Moinduddin and Aqib Bhai.

20% with regular dilution. It's like having a 3rd cofounder. As seed investors, 10xC can dilute down to 0% equity, which is why we have an anti-dilution clause: If the portfolio company raises investment at a $5M valuation or more, 10xC’s stake can NOT dilute less than 5%. For portfolio companies raising investment at $10M or more, 10xC can consider diluting from 5% to 2.5% equity to make the deal more investor-friendly (case-by-case basis).

The following are some of the key points of the accelerator:

Access to the Planet N Family
Office Space
Seed Investment

Each cohort will have 8-10 startups.

We’re professional investors exchanging cash/services investment for equity.

Yes, but finding a team is half the battle. Find yourself a strong team and execute!

Since we see >1,000 applications a year, it’s impossible for us as an accelerator to sign an NDA. However, it’s our guarantee that your proposal will only be shared within 10xC’s Investment Advisory Committee – No portfolio company or external party will ever view your applications without your permission.

Please do not hesitate to contact us for any further information. We are more than happy to answer all your questions. Email us at: start@10xC.pk, or Whatsapp us at +92-324-203-4373

We have 2 investment models:

  1. Pre-Seed = $10,000 for 20% equity
  2. Seed Fund = $50,000 - $250,000 for 25-50% equity (case-by-case basis)

Yes, you can submit two applications. However, please pick the one you’re most interested in working on.

Yes, but a single-person application can only be considered if he/she is a Technical Founder. Non-technical Founders must have a CTO/Technical Founder on their team.

We do not help you find programmers, but you may use our forum to find CTOs interested in working with you.

95% of the people we fund through 10xC are between the ages of 20 – 35.

Trying to. Again, because we’re receiving so many applicants, it’s impossible for us to give feedback to everyone instead of focusing on the applications we’re interested in funding.

FAQS- Mentors

Training is generally delivered according to a predetermined curriculum, with the trainee carrying the burden of meeting the curriculum's deliverables. Mentoring is a more customized activity, which assigns deliverables to the mentor as well as to the mentee. In addition, the role of mentor may be to serve as a "role model," whereas the role of a trainer is generally to deliver a specific content without having a "partnership" with the trainee.

As a mentor you will have the opportunity to:

  • Share valuable knowledge based on your own experience
  • Develop your coaching, communication and leadership skills

As a mentor, you are helping your mentee by:

  • Share your networks and professional contacts
  • Support your mentee to maintain self-confidence
  • Help them realize their full potential

This can vary. Initially there are more frequent meetings and discussions, but on average, time taken is about half a day per month.

FAQS- Investor