The Costs We Cover
If accepted into the program, we will cover all the expenses below for you and 1 or 2 teammates. We will cover:
- The cost of securing your team a room on the ship
- All of your food throughout the voyage
- All costs for acquiring your visas
- $1,000 USD stipend for travel expenses you may incur in the countries we visit
- For each team, we cover the estimated costs of the program which is $100k USD. ( everything above & more )
- Note: You will need to cover your own travel expenses to San Diego, CA for embarkation and from Barcelona, Spain at the completion of the program. If you can demonstrate financial need, we will offer a 0% interest loan, due upon your next round of financing, to help with covering travel expenses.
Instead Of Tuition, We Are Investors
Although we believe the $100,000 USD in costs we are covering for your team is noteworthy, in our minds, it’s the least of what we offer. In exchange for the mentoring you’ll receive from world-class innovators and entrepreneurs, the chance to take the stage at multiple national events in each port of call, access to dozens of venture capital funds, room and board on the fastest cruise liner in the world as it sails to 14 countries, and the investment we are putting into your company, Unreasonable at Sea requests a modest equity stake.
The Exact Amount We Are Charging
We are going to charge the less of the two – either 6% equity in your venture or up to $100,000 USD in equity based on your company’s valuation in your most recent round of financing (never less than 1%). We have developed this stipulation to ensure companies who already raised a round of capital at a valuation above and beyond 1.65M are not being over charged to participate in the program. Furthermore, knowing the design of the program may be attractive to later stage ventures who are looking to scale their technology internationally, we don’t want our equity stake to be a deterrent in applying.
An Unreasonable Guarantee
We realize Unreasonable at Sea is unlike any other accelerator in the world. Consequently, we want to have a pricing model unlike any other program in the world (i.e. we want to hold ourselves accountable with a simple guarantee). If, after we have reached the halfway point of the voyage, you are not convinced the program is worth the experience, you will have the option of opting-out of giving us any equity. In other words, it’s a no risk guarantee for your company and we won’t charge you a penny if you don’t believe the experience was exceptional. Although some people may call us crazy, we wouldn’t have it any other way… We believe we should be held to the highest standard possible by those we are serving (i.e. the entrepreneurs).
We Want To Be Invested In Your Success
Rather than having you pay for the program up front with tuition dollars, we want to make certain our interests are mutually aligned. We are committed to being invested in your success beyond the 100 days of the program and ultimately, we want to be aligned with your team for the life cycle of your company… We are in this for the long haul. This is why we are requesting an equity stake in all the companies who participate in Unreasonable at Sea. Under this equity model, the ultimate success of our organization hinges on ensuring your company is successful. Knowing the global network we work with, the exposure we will bring to your company, the partnerships we have with dozens of venture capital funds, and the amount we genuinely care about your future success, we hope you see our investment in your company as strategic, instead of as a cost.
Investment and Control
We don’t want any special or controlling interests in your company. We won’t ask for a board seat or for any uncommon investor rights. You will still run the show.