FAQ - Alpha Hub

FAQ

Check out our Frequently Asked Questions. If you don’t see your question listed or would like further clarification, reach out to us at hello@alphahub.tech.

What about my intellectual property?

You retain full rights to your intellectual property. A bilateral NDA is included in the program agreement to ensure the corporation and startup are both protected. Additionally, we keep your application secure according to our privacy policy.

What if somebody steals my idea?

Nobody wants to steal your idea. Besides, a startup is 99.9% execution. Nobody can copy the unique passions, background, skills, and chemistry of your team. The same idea, executed by 100 different teams, will lead to 100 or more different products depending on how often they pivot.

Ideas grow when shared and discussed. Taking a startup from idea to market is hard–and almost impossible if you’re obsessed with the idea of someone “stealing your idea.” We know this is a common fear among new entrepreneurs. To understand more about why you shouldn’t worry about this, check out this article.

We keep your application secure according to our privacy policy. If your application advances to the program, a bilateral NDA is included in the program agreement to ensure the corporation and startup are both protected.

Can I have an NDA signed before I apply?

Like other investment organizations and programs, we cannot sign NDAs at application stage. To learn more about why, please see this article. As a rule, you should never include any code in any application or pitch. We keep your application secure according to our privacy policy.

If your application advances to the program, a bilateral NDA is included in the program agreement for startups participating in the program to ensure the corporation and startup are both protected.

Who can apply?

Great ideas and innovation come in many configurations. That’s why AlphaHub is open to product-focused startups, development and IT companies, individuals, and emerging teams. If you don’t yet have a company established, your IP will still be protected.

What is Responsible Gaming?

Games and gambling have been a part of human culture since before written history. Games are a form of social engagement that cross cultures and borders. But anything in excess can be bad. Paddy Power Betfair wants gambling to be fun and enjoyable for customers. That’s why they’re dedicated to Responsible Gambling and ensuring that customers have resources to support when needed.

Responsible gambling means Paddy Power Betfair ensures their offerings uphold fair and safe gambling experiences that help protect players from potential adverse consequences of gaming and gambling. It means protecting vulnerable customers, including those who have let us know they are experiencing problems, and proactively seeking to identify those that might be having problems. It means preventing underage gambling and protecting against fraudulent and criminal behavior, protecting the privacy of our customers, a fair and gaming experience and environment, and upholding ethical and responsible marketing.

Learn more about responsible gambling as a whole here, and Paddy Power Betfair Responsible Gambling initiatives here and here.

What is the deadline to apply?

The application deadline is November 6th. However, we review applications and interview as they are received, so applying early is definitely a plus. You can apply here.

Does the program take equity?

The Alpha Hub program and prizes are equity free.

What are the expectations of participating in the program?

If you are selected for the program, you’ll need to be in Cluj for the Workshop and the Showcase. We cover your travel expenses (flight and hotel). Between these, you’ll have support from mentors. Participants are expected to treat fellow participants, mentors, and all those involved with the program professionally. Please see our code of conduct for further information.

What are the goals of the program?

Paddy Power Betfair is looking for innovative solutions, technologies, and products to solve internal challenges, improve customer experience, and improve efficiency. Such solution may be products already on the market, MVPs looking for pilot, or ideas that can be developed into a proof of concept within the two weeks. On Showcase day, you’ll have challenged to show Paddy Power Betfair how your solution, product, or technology can solve their problem. It is not necessary to have the full solution developed yet–just show the potential of it and your progress.

Are there fees for the program?

No, there are no fees associated with the program or equity required.

Who are the mentors?

Alpha Hub mentors come from both the Paddy Power Betfair team, as well as the Risky Business and Techsylvania network. You can see some of the mentors here. We we will also source mentors related to your specific, unique needs.

What organizations are involved?

Alpha Hub is a program created by Paddy Power Betfair, produced and organized by Risky Business and Techsylvania.

Why are you doing this?

Paddy Power Betfair and affiliated firms have been partnering with, investing in, and acquiring startups over the past decade on an ad hoc basis. Alpha Hub unifies our efforts, creating a full platform for scouting and supporting high potential startups. Techsylvania and Risky Business are happy to support initiatives that help bring startups to potential clients, customers, partners, mentors, advisors, and investors.

Apply by November 6th.
Applications are reviewed as received, so applying early is an advantage.