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Indico Founders Program

The Indico Founders Program is now in its 4th edition, and counting this year with two tracks, Tech and Ocean. This complementary growth program for Founders at the pre-seed stage level and beyond provides access to capital, mentorship, talent and infrastructure. We partner with local talent with the ambition to become global category winners.


Frequently Asked Questions

What type of companies should apply to the founders program?
Companies developing Tech or Ocean Sustainability based products and businesses, with a huge potential in new or existing markets, particularly given the current market environment. The companies can be in the pre-seed stage, which includes startups that are assessing its feasibility concept, developing initial business concepts, testing product-market fit or a potential product/business pivoting or already established and operating as an SME (Small Medium Enterprise). The companies applying should be legally based in Portugal.
Do you invest in the companies that go through the Pre-Seed Program?
Yes! We invest in all companies that take part in the Indico Founders Program. The investment can be realized through a SAFE (simple agreement for future equity), an equity round or other forms of investment to be decided on a deal by deal case. After an initial pre-seed investment from €100k-500k, we have the capacity to keep investing in our portfolio companies, up to €5M per company. As pre-seed investors we won’t have any special controlling rights. You will be largely responsible for your own company, as it should be. Yet, the participation in the program will imply the acceptance of a standard term-sheet with the conditions and terms of the investment to be realized by Indico Capital - to be decided on a deal by deal basis.
I need more capital! This sounds too little for my stage, why would I join the program?
Getting into the program is just the beginning! Companies participating in the program often quickly raise capital the following weeks or months because they have our investment and are participants in our founders program. Additionally, Indico can invest in rounds up to 5M Euros per company so its up to the company to perform (with our close support) and reach the necessary stage that allows it to unlock investment from Indico and our local and global investment partners. We are almost always the first capital in and have a catalytic effect.
When should I expect to hear from you after applying? How does the interview and selection process look like?
After we review your application, and should you pass our initial screening committee, we will invite you to do a quick screening call as a first step. This will happen no later than 4 weeks after the submission of the application.
What type of companies does Indico invest in?
Indico is often the first investor in startups, and almost always leads or co-leads any fundraising rounds until Series A. Indico’s focus is to support the best tech and ocean / sustainability companies going from local to global. We look for potentially unique global winners with amazing products, solving a big problem and a clear business model. We have a geographic focus on Portugal and Spain, so we invest almost entirely in companies based in these two countries. You can find our current portfolio of pre-seed to series D companies here. All these companies have been co-invested by other major global VCs, sovereign wealth funds, major corporates, hedge funds, business angels and high net worth individuals from all over the world. If you become a portfolio company by participating in our founders program, you will be in fine company and will meet many of our top founders, many of which could be your mentors. Indico´s portfolio has raised over 1.1 Billion Euros over the last years - the next member of the Indico family could be you!