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Launchary Tech Accelerator

Published on Nov 18, 2015

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Launchary Tech Accelerator

Technopreneurs serving other minority and underserved Technopreneurs
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MISSION: To improve access to mentoring, education, networking and engineering support required to build successful technology start-up companies with an emphasis on women-owned, minority-owned and other under-served and aspiring entrepreneurs.

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VISION: To improve lives through technology entrepreneurship as a way to strengthen and enrich the social and economic futures of our diverse under-served community.

Impact: Focus

  • Minority-owned, woman-owned & underserved communities
  • Provide engineering resources through talent augmentation & technical education, boot camps, access to maker-space
  • B2B Startups, Social Impact, and Multi-Cultural Community solutions

Accelerator Model

  • Small Class (Up-to-5 under-represented & underserved innovative companies)
  • Mentorship-Driven (20-40 mentors)
  • Development Resources (Cohorts receives in-kind engineering investment between [$25K to $100K])
  • Favorable Terms to Entrepreneurs (usually 6-10% small equity stake)
  • Short-Term (36 months long program)
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4-Step Program

  • Assess - We seek top-notch, passionate minority entrepreneurs. Find a fit, understand end-goals & create custom proposal on how to move forward.
  • Build - Agile & Lean Software Development process via SCRUM.
  • Launch - Provide additional resources for continued support of the product.
  • Exit - Ensure the next phase of success.
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Uses of Prize Money

  • Conduct a 5-team cohort starting in Q2 2016
  • Pay for office rent, amenities, training events & engineering resources
  • Hire a Dedicated Program Manager
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Planning and Funding Phases

  • Phase I - Set cohort program infrastructure (office space, program definition specifics/mechanics, set schedule, recruit mentors, investors, VCs & service providers)
  • Phase II - Raise additional funding (4-1 match)
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Accelerator Model Phases

  • Phase III - Receive Applications & Recruit cohorts
  • Phase IV - Cohort program begins (3 to 6 mos)
  • Phase V - Demo Day
  • Phase VI - Follow-through action plans & execution
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Selection Criteria

  • Team - passionate and industry knowledge
  • Diversity - actively engage women, minority & underserved technopreneurs
  • GSD (Get Stuff Done) - lean mindset, teachable & action oriented
  • Huge Target Market - Great team taking on a huge market (over $1B)
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Funding Goals / Metrics

  • 4-to-1 from various federal, state, county & city economic development - 25%
  • Kickstarter Campaign - 25%
  • Non-profits that supports economic development - 25%
  • Private donations and local business support - 25%
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Success Metrics

  • Reached specific goals set by each cohort
  • Built Key Relationships for cohorts
  • Secure follow-up funding for cohorts
  • ROI for Stakeholders (successful exit, viable new ventures, ROI for investors)
  • Open Access for All - remove barriers of entry for the most poverty & underserved communities
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That's all folks!

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