Startup FAQ

1. How do you accelerate sales?

We provide the tools and the know-how to structure the sales processes. Matching a successful Business Person as dedicated coach and actually connecting you to customers and channels through the market reach of our strategic and corporate partners.

2. Is 365x a Part of Microsoft Accelerator or ventures ?

No, 365x is a fully independent program powered by Sarona Partners, an international growth ecosystem for startup companies, but it is the fruit of the collaboration with: Prodware Group, a global Microsoft top partner specialized on MS 365 and Azure, Tech Data, a global Software distributor delivering MS product all over the world, Salesforce and Microsoft Corp. MS aims to promote startup offers inside the 365 and Azure wide customer ecosystem leveraging the network of its Partners, Coaches and Mentors.

3. Does 365x take equity in my company?

365x ISRAEL
In the 365x held in Israel, the program fee is covered by the company by granting $50K worth of Warrants exercisable into shares of the company according to the recent company valuation. 365x & Sarona Funds will have the right to invest up to $500K in your next round of funding at a 25% discount to the terms set by your lead investor.

365x NYC
In the 365x held in New York, the program fee is covered by granting $120K worth of Warrants exercisable into shares of the company according to the recent company evaluation. 365x & Sarona Funds will have the right to invest up to $500K in your next round of funding at a 25% discount to the terms set by your lead investor. The program fee includes a dedicated office during the program in our co-working space ideally located in the heart of Manhattan

Once accepted and having signed the standard terms, companies can apply to the Sarona Partners funding program. Upon validation by Sarona Investment committee the standard term sheet will be cancelled and replaced by the Sarona Partners future equity agreement (SAFE), where Sarona Funds will invest in your company $150K for the equivalent of 7% of the shares of the company (fully diluted). Of this investment, we charge a fee of $50K + VAT for our scale-up program including coaching, training, legal & tax advisor, valuable industry connections with partners, clients, distributors, US investors and as well a dedicated office during the program in our co-working space centrally located in the heart of Manhattan.
This means that you receive $100,000 net cash, access to the full program and the industry partners, investor roadshows and dedicated office in Manhattan for 6 Months for 7% of the company instead of granting $120K worth of equity shares and right to invest $500K at a 25% discounted valuation.

4. Is the valuation negotiable?

No, it isn’t. Many of our startups have already raised capital at a higher valuation and still choose to join us for the benefits we provide to their companies.

5. Do I need to be present physically in the program? My team as well?

Most of the program content is delivered on premise in Kfar-Saba such as lectures, meetings and workshops. We recommend, if possible, to attend in person to take advantage of the program, the network and the geographical proximity to the offices of Microsoft and Prodware. However It is up to you to decide to what extent you will benefit from the program.

The program is structured for the CEO, CTO and VP Biz.Dev/ Sales. You may engage other team members for specific contents or events.

COVID UPDATE:

Israel Program - The Israel Program will take place hosting sessions both virtually and F2F, according to the limitations of the relevant Autorithies.
NYC Program - The NYC Program will start in Israel for the first month and, if allowed, will continue after the Jewish Holidays in NYC.

6. You promise customer access, how can I know you have access to the customers I look for?

If we believe our reach will not benefit you, we are less likely to accept you.

7. How can you guarantee sales in 6 months if my sales cycle is 6-9 months?

We don’t, we cannot guarantee to every startup to close sales or partnership deals within 6 months. We can and we do guarantee (1) Full alignment with your market needs and (2) Access to customers and partners network that we have built over the past three decades.
Combined, making the best scale-up conditions for your startup.

8. Will the program provide my company with direct agreements with customers and channels? Do you take commissions on those agreements?

The Program is structured to provide your company with the best framework for closing deals. We ensure you are well prepared to capture the business opportunities you come across; and we bring extremely friendly contacts of ours at your doorstep, with expressed interest to conduct business together. Eventually, the agreements are yours to make.

No royalties or commissions are taken for deals conducted with the partners of the program. On a separate note, we do encourage to engage in commission based agreements with parties of the ecosystem if they contribute to your growth.

9. What differentiates your program?

Our actual Business focus, the high profile of the people working with us as Coaches and Mentors to get you to scale and the commitment to actually connect you with your market through our network and the reach of our strategic partners.

10. Will I meet investors?

Yes. Throughout the program you will meet twice with investors in two dedicated events:
• Feedback Session - Meet friendly investors and get feedback to refine your approach, pitch and strategy.
• Showcase event - Our version of Demo Day. Investors from Israel and abroad will attend to watch your presentation and could approach you after your pitch to discuss investment.
• Regardless of the dedicated events, amongst our Mentors there are Venture Capitalists and Angel Investors.

11. I see you have partnership with Microsoft, do I have to migrate to Azure to participate in the program?

Your solution has to be available on Azure to get the full benefits of our program and notably the full Microsoft sales and marketing benefits it offers. You will be supported by Microsoft Experts to optimize the Azure Platform for your specific architecture and technological needs.

12. My company recently raised funds, should I apply and will I benefit from the program?

Absolutely! You have raised, now you have to concentrate on perfectioning your business: scale your operations to aim for exponential growth and implement new customer channels, smartly using your funds.

13. We have over 50 customers and refined sales process, should I apply and will I benefit from the program?

The program provides the chance to align with international customers and channels through a collaboration with our Strategic Partners. If your customers are mostly local and you aim to level up your business, you will definitely benefit from the program.

14. Can I apply if I’m not from Israel?

Of Course! Startups from outside of Israel would highly benefit from the cultural and entrepreneurial israeli ecosystem. However startups need to attend certain meetings, events and lectures throughout the program, you then need to fly to Israel at your own expense.

15. Will you take into consideration late applications?

We collect applications all year long, also after the batches deadline, however we consider them for the next upcoming batch.

16. Where does the Program take place?

365x offers two options: the 365x Scale Up Program based in Kfar Saba and the 365x NYC Scale Up Program, in the heart of New York City. These are fully separated Programs with different starting and ending dates. During the application steps you will be asked to pick for which program are you applying.