Frequently Asked Questions (FAQ's)

FAQ Categories

Who we work with

What types of companies does Coplex work with?

Coplex builds technology companies. Most of our companies have a software platform at the center of the concept. The majority of our ventures are SaaS, marketplace, tech-enabled, or consumer app plays.

Coplex also works with corporations looking to start new spin-out companies with their in-house industry experts. Please ask us for more information on our Corporate Innovation program.

What types of companies does Coplex not work with?

We do not build lifestyle businesses, consulting businesses (unless tech-enabled, somehow), on-premise software, or physical product companies.

Coplex has some fine lines with working on certain ‘vice’ industries (i.e. pornography, drugs, gambling, etc.). Check with us if you are not sure.

Funding

Does Coplex finance the fee for the program?

The Coplex program is split into 3 payments of $50,000 to spread the investment over the 9mo term. This also provides some opportunities to discontinue at these key points. If you require a different payment structure, please ask a member of our team and there may be some options that we can propose.

Why do I invest in the beginning instead if receive funding like most accelerators?

Ultimately, most accelerators do actually charge a 'program fee,' they just label it differently, taking the program fee out of the equity investment that they make. At Coplex, we operate a little differently as we provide a much more active role in helping you start your new tech company.

Coplex provides a founding team to support you with bringing your idea to life. We provide the technology resources and also support directly with branding, design, product development, maintenance, go-to-market, fundraising support, and much more during the program. This requires a heavier investment, but we do our best to keep it very fair to optimize your chances for success.

Our program has proven to save our founders (and their investors) hundreds of thousands of dollars, months of lost time, and millions in undervalued equity.

Does Coplex take equity in my company? When?

Coplex takes a 5% warrant position in your new company at the start of the program.

Program

Do I need to live in one of the Coplex locations to do the program?

Nope! It certainly helps to have you close so that you can more easily take advantage of our program offering, in-person sessions, private events, mentors, and get involved in your local tech ecosystem.

We do typically suggest 2-3 days in person each month at one of our locations to work with Coplex during the program.

Do I need to have an entity already formed? What type?

It’s not necessary to have an entity formed before starting our program. During the workshop, we can get you some great discounts on entity formation with our legal partners and work with you to ensure the proper structure is in place for future investments.

If you’re chomping at the bit to incorporate before the workshop, reach out to us and we can connect you with our legal partners directly. Further, if you’re going to do it on your own, we do require a Delaware C-Corp for the program.

Do I need to have a full business plan and deck to start?

Not at all, in fact we prefer you don't as they are often-times based on way too many untested assumptions. If you've done some research, customer development, and business model canvasing that’s great, but don’t worry too much about having all of this together before we start. The workshop with Coplex is designed to dive into the business model.

Is there an application or qualification process? How does Coplex choose which companies to work with?

We do have a qualification process that our team uses to determine if we're the right fit for each other. However, we don’t do application deadlines or batch approvals. We take the time to chat with you and understand your business concept / problem. If we’re a good fit, we do the 3-day workshop together and then after that is done there is yet another time for us to both evaluate if the Coplex program is the right match for your needs and style.

Can I work out of your office during the program?

We have a partnership with Galvanize in Seattle and PHX and we can get you a discount to have your own space at Galvanize. We don't offer coworking as part of our program.

Mentorship

How can I become a Coplex mentor?

At Coplex, we keep a rolling group of 25 mentors with varying backgrounds and skills to pair with our ventures. Our mentors have held C-level positions at 100+ person companies or had $20M+ liquidity events. It's okay if they are not 'tech' companies.

We hand-select a mentor for each of our ventures that come through the program. We take the time to matchmake mentors with ventures that have overlap with their industry/skill sets.

What is the time commitment of mentorship?

Our mentors need to commit (at minimum) 3hrs per quarter to support at some critical moments with our ventures. Most of our mentors commit around 6 hrs per quarter to support.

Our favorite questions

Am I too old to start a tech startup?

Probably not! Unlike most accelerators, our founders don't fit the mold of the stereotypical 20-year-old coder. In fact, our founders are usually in their 40's. We wholeheartedly believe that the next wave of tech innovation is going to come from older, more experienced industry experts. We actually hit on this topic on a VentureBeat post, here, if you'd like to learn some more on why.

I'm visiting a city with a Coplex location, can I come and visit?

Of course! We love meeting new entrepreneurs of all paths and supporting our local ecosystems. Contact us and set up a time to come and visit or drop by for a coffee.

Other questions, comments or concerns? Contact Us.