Frequently Asked Questions (FAQs)

Startups

How can The Startup Buddy help my start-up company?

The Startup Buddy, your founder friendly startup accelerator, guides entrepreneurs from the idea stage all the way to acquiring funding. Combining the principles of Eric Ries’s The Lean Startup and everyday founder issues, The Startup Buddy teaches, plans, and keeps track of your startup progress. Free, flexible, and all-in-one.
Some features include:
-Dashboard: Set your goals, celebrate your achievements, check your progress, and set meetings with your mentors all in one overview.
– Proposition: Building your company has a million steps. The Startup Buddy breaks your journey up into manageable milestones. So you can focus and do the right things at the right time.
– Learnings: You will learn more building your company than ever before. Startup milestones are explained and linked to other relevant knowledge sources and tools. So you can find them easily whenever relevant.
– Mentors – Gain access to a community of successful mentors that are ready to offer encouragement and advice on accelerating your startup’s growth.
– Communities – Find like-minded entrepreneurs to get connected with!
– VPC – Use the Value Proposition Canvas to help you work out how your startup can achieve product-market fit.

What are the fees for using The Startup Buddy?

We believe that great startups can come from anywhere. This is why The Startup Buddy is free to use for anybody with an idea to increase your basic understanding of entrepreneurship. We’ve made our Dashboard, Proposition and Learnings toolkits free to use. These features will always remain free. However, we also have two paid subscription plans: The Founder Pack and the Team Pack. These plans offer additional tools created to help your startup grow. You can find more information about the subscription plans here.

Who can I approach when I need help?

We’re here to help you! If you need advice, guidance or just help in solving a problem, feel free to contact our experienced staff through our chat box on the bottom left of the page or simply contact us here.

Who can access my data?

We are an independent company that works in the best interest of the entrepreneur. Our strategies are based on the needs and perspectives of startup businesses. Your data is accessible to you and any third party you choose to share it with. The Startup Buddy does not share your data with third parties without your express consent. We are Personal Data Protection Act (PDPA) 2012 compliant and follow data protection policies required by Singaporean jurisdiction. For more information please refer to our Terms and Conditions and Privacy Policy.

What exciting things are you guys coming up with next?

The Startup Buddy tech team is working hard to bring you everything you need. Based on feedback provided by users like you, we’ve got an exciting lineup of new features coming your way soon. Watch out for the “grey” and “locked” features on your Dashboard!

How do I gain access to the ‘locked’ features?

Currently, the locked VPC and Mentor features of our website are only accessible to customers who have purchased the Founder Pack or the Team Pack. 

Dashboard:

Where are my past achievements?

Your achievements are visible to you anytime on the Dashboard and are organized according to the week that you entered them. Click on the drop-down list and select the week you created them to view them. 

Where are my past goals?

Your goals are visible to you anytime on the Dashboard and are organized according to the week that you entered them. Click on the drop-down list and select the week you created them to view them. 

How do I gain access to mentors?

Mentorship is a paid feature on The Startup Buddy. Purchase the founder or team pack to access our mentor toolkit.

What exactly does My Progress show? Where can I find Starting Up, Team etc.?

My Progress gives you an overview of your Proposition. Each part of Proposition you fill out and complete gets auto-updated (ticked checkboxes) in My Progress. You can find Starting Up, Team, and other parts of the My Progress list in the Proposition toolkit. 

Mentors:

How do startups get paired with mentors?

Startups interested in receiving mentorship can gain access to this feature by signing up to the Founder Pack or Team Pack. You get to choose your own mentors and are presented with detailed descriptions of each mentor that our program offers after signing up.

What kind of mentorship can I expect to receive?

This would depend on the mentor that you choose. The mentee and mentor are encouraged to work together to come up with a plan most suitable for the mentee’s needs.

What areas do your mentors have expertise on?

Our mentors come from a wide breadth of backgrounds, with expertise in areas ranging from biotechnology to healthcare to real estate technology. We also have mentors who have substantial experience in business development, marketing, and web design, among other areas. 

How accessible are mentors?

Mentors can be messaged at any time using the Chat function. They are also encouraged to provide an hour of their time a week, however, specific time arrangements must be made between mentees and mentors themselves. 

How regular are interactions between mentors and mentees?

Mentors are encouraged to devote at least an hour per week to mentees, however, the degree of interaction will vary mentor to mentor and should be discussed prior to beginning the mentorship journey.

Would I be allowed to switch mentors?

There are no fixed contracts between mentor and mentee – as such, each session that is booked with a mentor is done so on an individual basis and mentees may seek a different mentor each session if they so wish.

What is the cancellation policy?

No worries, the cancellation policy at The Startup Buddy is pretty straightforward! If you cancel within three days of your session, you will receive a full refund. Please refer to our mentor-mentee Terms and Conditions and Privacy Policy for more information.

How involved would the mentor be in our startup’s progress?

This decision would be up to each individual startup.

What is the time commitment for a mentor?

Mentors are encouraged to commit at least an hour a week to their mentees.

How is my intellectual property protected during mentoring sessions?

We maintain strict adherence to the Personal Data Protection Act (PDPA) 2012. For more information, please refer to our Terms and Conditions.

What is a typical mentoring session like?

Mentorship sessions are highly customisable and each one will be unique in order to best cater to each startup’s needs, however, you can expect startup evaluation, encouragement, advice on marketing and courting investors, and more. 

How does The Startup Buddy select mentors?

The Startup Buddy conducts a standard background check on every mentor to ensure credibility. Mentors are selected based on their expertise in their field and their potential to be able to work well with startups and provide guidance.

Are there any guidelines or rules of conduct on The Startup Buddy?At the heart of The Startup Buddy’s ethos is trust and respect, qualities that are fundamental to a fruitful mentor-mentee relationship. We encourage open dialogue to make sure that both parties are satisfied. However, should any issues arise that cannot be solved internally, feel free to contact us ([email protected]).

Communities:

What are Communities?

The Startup Buddy platform offers communities established for you to get connected with other like-minded entrepreneurs. 

Can I be involved in more than one community at the same time?

You may choose to be involved in as many communities as you would like!

Can I start my own community?

No. If you wish to start your own community, contact us ([email protected]) and we can go about establishing it for you.

The Startup Market:

Why should I use The Startup Market?

The Startup Market gives you access to an array of products and services. You can easily compare offerings to find the provider that fits you best. 

Where is The Startup Market?

You can find The Startup Market here. To make listings on The Startup Market create your service provider profile in Profile-> Settings->Options.

Profile and Settings:

How do I change my personal or startup company information?

Simply go to Profile -> Settings. Here, you will see the tabs ‘My Company’ and ‘Personal’ where you can make whatever changes you like.

Subscription Plans:

How do I change my personal or startup company information?

Simply go to Profile -> Settings. Here, you will see the tabs ‘My Company’ and ‘Personal’ where you can make whatever changes you like.

What kinds of subscription plans do you offer?

Currently, we offer three different subscription plans: the Starter pack, the Founder pack, and the Team Pack. You can find more information about the subscription plans here.

Can I switch between plans?

In switching from the Starter Pack to the Founder Pack or Team Pack, you will immediately be charged the requisite monthly rate. In switching from the Founder Pack to the Team Pack, you will be charged a prorated amount based on how many days of the Founder Pack you have already used. Once your Founder Pack credit has run out, you will be charged the regular monthly rate for the Team Pack. In switching from the Team Pack to the Founder Pack, if you have not used the Team Pack for the full 30 days, the remaining amount will be used to offset your future invoice(s). Lastly, if you decide to switch from the Founder Pack or Team Pack to the Starter Pack, you will not be refunded and you will still be charged for the remainder of the billing period.

Why can’t I add more than nine people to my Team?

We are working on expanding the Team function! In the meantime, we recommend that you create a separate account to add any additional members. This new account will also be billed for the Team Pack.

I signed up for the Team Pack, how do I create my Team?

No worries! All you have to do is go to Profile -> Settings -> My Team. Here, you can fill in the names and email addresses of team members that you want to invite on to the platform. Once they accept your invitation, you’re free to collaborate together on the platform!

Fundraising:

How can The Startup Buddy help me through the fundraising process?

Find more information on how to do this here.

What additional services are available?

We also offer help with the design and layout of your pitch deck, creating personalised flyers for your startup to be distributed at our events, and setting up fundraising contracts. Find more information on how to do this here.

How can I increase my chance of getting investment?

The Startup Buddy is the best tool you can use to put your business in a good position to obtain funds.  Once you’ve completed your Proposition, build your pitch in the Golden Egg Check/The Startup Buddy community and ask for an assessment ([email protected]). Find more information on how to do this here.

 

If my business is fundable according to the assessment, are the funds to be raised via VC?

Our database and network consists over 5000 investors from Singapore, India and based in Europe. Our Dutch partner (Golden Egg Check) has a database of Dutch VCs connected to us. Based on your companies specific needs we can see how viable it is to search in other countries. We do recommend only to go overseas for strategic or content reasons. Purely for funding it is not that useful to search in other territories as where you do business and it will make negotiations and everything else afterwards more complicated.

Who are the investors?

The Startup Buddy has contacts with over 5000 investors in Singapore, India and Europe. These investors are venture capitalists, family offices, and angel investors interested in a variety of industries. We will help you find the best investor based on your needs. 

How long will it take for me to hear from investors?

The time taken for you to hear from investors will depend on the stage your business is in. If you’ve just started your business, it could take upwards of six months to obtain funds. At this stage, we recommend you to track your progress on The Startup Buddy to update your investment profile as you hit each milestone. If your business is already in a good position to expand, you could be matched with suitable investors in weeks.

When The Startup Buddy finds investors to pitch to, will this be done online or via personal pitches?

Pitches to investors are handled on a case-by-case basis. A personal pitch is usually more effective and is preferred. In the early stage, however, it is not economical to go overseas for a pitch. In such a case, an online pitch is the best solution.

When I upload my pitch will The Startup Buddy do the final touches to ensure that it is very professional and up to investors’ expectations?

We will touch it up together with you, the entrepreneur. You, the entrepreneur remains the owner of the business and therefore the pitch, but we help you make it as investor bullet-proof as we can.

How do I make sure to keep my confidential creative materials confidential when I am looking for investors?

When you put together your pitch make sure you don’t include confidential information you are not willing to share without an NDA. Having said that, it is not very useful to keep your concept or idea to yourself. Typically you will get valuable feedback from pitching and typically your idea will not be as unique as you might think. Just keep to yourself what is objectively sensitive and keep that for the negotiation stage.

In terms of numbers, how many parties will the pitch via Golden Egg Check / The Startup Buddy be made available to?

Ideally, we match you with as many investors as possible that fit the scope of your startup business. When searching for funding, your conditions and negotiating options will improve dramatically if you have multiple options. Having said that, you, the entrepreneur decides whom you would like your pitch to be available to. If you wish to maintain confidentiality and do not want to share it with investors that already fund a competitor, we will make your pitch invisible to those parties.

What is the relation between The Startup Buddy and Golden Egg Check?

Golden Egg Check is one of the few funding analysis companies in the world. We have established an exclusive partnership for Singapore with the Golden Egg Check’s experienced team. By using Golden Egg Check for your Singapore-based startup, you get access to Golden Egg Check’s resources as well as complete support from The Startup Buddy. 

Service Providers

How do I make a listing?

To make a new listing, please follow these steps:-Sign Up or Log In to The Startup Buddy using your email, Facebook or LinkedIn

-Click “My Companies” in the menu on the left.

-If you are a new user, click on the “ADD NEW COMPANY” button to add your company. 

-Once your company is listed, you may add your listing under “Actions” → “Services”.-Proceed by clicking on “ADD NEW SERVICE”.

-After finishing you can find your listing at The Startup Market. 

Only fixed price and paid listings will be accepted. Our users prefer packages with clear descriptions and transparent pricing.

Why should I use the Startup Market?

By listing your products or services on The Startup Market, you gain exposure to startups throughout all over the world. The Startup Market is your chance to gain new customers and make your brand known.

 Benefits:

-Making a listing is free

Multiple companies and services under one account.

-Custom fields to add specifics for your listing 

I submitted a listing but I don’t see it on the platform?

We recommend checking to see if you have inputted fixed prices for your listing along with a clear description of your services. If you believe you have, feel free to contact us ([email protected]) with more details and we’ll be happy to assist you further.

What are the fees for using this platform?

 Upon a successful sale the transaction fee is 15% which includes a payment processing fee. Terms and Conditions apply.

Mentors

How do I become a mentor?

All you have to do is sign up on The Startup Buddy platform! You will be presented with three options for what kind of account you want to register with us: Startup, Service Provider, and Mentor. Once you select the Mentor option, make sure to read the Terms and Conditions and agree. You will then be allowed to fill out your profile and provide information regarding your area(s) of expertise and expected compensation. Once your profile is verified, you’re ready to begin!

How much will I be compensated for mentoring?

At The Startup Buddy, mentors set their own rates.

What is the cancellation policy?

Mentors must notify our team ([email protected]) and mentees of their cancellation within three days of the session and the payment will be automatically refunded to the mentee.

Will I need to sign a contract binding me to serve as a mentor for a certain period of time?

Mentors are not required to sign any time-bound contracts and may cease acting as a mentor simply by not adding any more sessions to their schedule.

What kind of professional experience is required to become a mentor?

We seek a diverse set of experiences in selecting our mentors. We look for individuals who have successfully established themselves in their respective fields, however, we do not require a specific number of years of experience to be accepted into our program.

Can I be both a mentee and a mentor?

Yes, but you will need to create separate accounts to do so.

What is the time commitment for a mentor?

Mentors are encouraged to commit at least an hour a week to their mentees.

How do mentors get paired with startups?

Startups get to choose their own mentors, however mentors may choose to accept or reject any session requests they receive.

What should a typical mentoring session entail?

Mentorship sessions are highly customisable and each one will be unique in order to best cater to each startup’s needs, however, typical components of a mentoring session include startup evaluation, encouragement, advice on marketing and courting investors, and more. 

Are there any guidelines or rules of conduct on The Startup Buddy?

At the heart of The Startup Buddy’s ethos is trust and respect, qualities that are fundamental to a fruitful mentor-mentee relationship. We encourage open dialogue to make sure that both parties are satisfied. However, should any issues arise that cannot be solved internally, feel free to contact us ([email protected]). 

Investors

How can I reduce risk through The Startup Buddy?

Along with Golden Egg Check, we analyze the fundablity and growth potential of all our member startups. Using these data, we find you businesses that have a good chance of yielding high returns.

How will I be matched with suitable startups?

You will be matched with suitable startups based on the information you provide on you Golden Egg Check profile. We compare your requirements with the data from our member startups to give you the best matches.

What is the relation between The Startup Buddy and Golden Egg Check?

For investors, The Startup Buddy has partnered with Golden Egg Check and set up an online investor community that can be accessed from anywhere in the world. Our industry agnostic approach lets you take a look at pitches from any vertical of your choice. A selection of the pitches is assessed by The Startup Buddy or Golden Egg Check and scored based on factors we know are relevant for 99% of professional investors. This helps you find relevant startups at the right moment and to support your investment decision better. These pitches can be recognized by the “GEC Check Score”. Golden Egg Check has developed the platform over 8 years in The Netherlands and helped 800 startups get funded.
Signing up as an investor is free and will enable you to find investment opportunities based on your investment profile. Please do email at [email protected] or call +6594600828 for any feedback or enquiries you might have.

I’m an investor, why am I being redirected to the Mentors page?

This is a temporary change. Currently, all investors on The Startup Buddy platform have the option to opt into the mentorship program. Feel free to contact us for more details ([email protected]).

What additional services are available?

Sign up on Golden Egg Check to enjoy access to businesses you may be interested to invest in.