Our Accelerator Program is a 10-week program focused on helping companies validate their product. Cohort members participate in weekly meetings that cover a specific business topic, regular meetings with mentors, and access to marketing and web tech resources provided by ActivateNM. We emphasize customer discovery and sales as primary methods by which to grow your company.
Who is this for?
We accept accelerator applications from early-stage software or software-enabled startups to join the program. “Early stage” typically means companies that are pre-launch and/or pre-revenue, with little to no outside funding raised, and who are looking to raise outside capital. The focus on software of software-enabled means that your company requires a technology officer to manage a technological product.
Specifically, the selection committee is looking for:
- a startup team ready to grow quickly while applying the concepts business in a practical way.
- a disruptive idea that solves an important problem in a unique way in a potentially large ($1b+) market.
- a working product or prototype that has been tested outside with potential customers.
- a growing understanding of the market that you’ll be serving via real-life interviews and research.
Even if you’re not “there” in all the above categories, we encourage you to apply to start the conversation with us, as we love helping entrepreneurs identify local resources.
Our Accelerator Program leads a cohort of founders on an amazing journey ending in a live Demo Day. This curriculum phase is based on Lean Startup principles and designed to give teams hands-on learning each week with a local business leader who is an expert on the topic. Each week, the cohort will analyze a different facet of building a business.
Highlighted topics covered include:
- Lean Startup Crash Course
- Customer Discovery & Development
- Startup Team & Organizational Development
- Product-Market Fit
- Customer Acquisition & Marketing
- Corporate & Legal
- Fundraising & Financing
- Pitching & Presentation
Weekly Session (Generally on Wednesdays) for 10 weeks
- 10:00 – Arrival, Pitch Practice
- 10:30 – Cohort Check-in
- 12:00 – Lunch & Learn
- 13:30 – Mentor-Led Workshop
- 14:30 – Wrap up
*Cohorts will be conducted virtually until we are able to return to in-person meetings*
Participants will be required to make video calls from their place of residents.
Dates: April 20, 2020 to June 26, 2020
Applications due on April 3, 2020
Dates: October 5, 2020 to December 11, 2020
Applications due on September 7, 2020
$500 per startup (See payment options below)
Accepted companies are required to participate in all weekly sessions, give full-time effort (~40 hours/week) to the company, and connect at least weekly with mentors and residents.
- Cash – Straight forward, one-time payment.
- Scholarship – We have need-based scholarships available for entrepreneurs. You will need to be able show documentation for the need.
- Revenue Based Investment – We partnered with local VC fund to provide payment for startups to join the accelerator.
Get Ready to Apply
Have the following ready before applying:
- Registered your startup with the State
- Have a website or link to prototype to submit for the selection committee to review
- Be prepared to talk about your team and/or partners associated with the company
FREQUENTLY ASKED QUESTIONS
What do I get in this program?
- Weekly accountability and mentorship
- Crash course in lean startup methodology
- Weekly Community Lunch
- Coworking space in with business incubation partners during regular business hours Monday – Friday
- Access to conference rooms and other amenities for customer discovery and meeting needs
- Access to the ActivateNM mentor network consisting of seasoned professionals and entrepreneurs
- Access to technical residents to help build prototypes
- Access to Global Accelerator Network benefits including a perks platform, global exchange program, and many other connective benefits.
- A community of practice which will support your venture!
Do I have to attend all the sessions?
It is requested that you are present in-person for all the weekly sessions and special events such as Demo Day. Remember this is a cohort-based program; therefore, it is important to show up and collaborate with your cohort. If you are not able to attend, please plan to send another team member to represent the company.
What if I can’t afford the costs?
Some participants are eligible to receive a scholarship to participate. Scholarships will be granted based on financial need.
What if I don’t have a “team” yet?
We like to see applications from founding teams rather than single founders, though solo founders with the ability to dedicate full-time effort to the business and who are eager to build their team are also encouraged to apply. We will address building the right team during the course.
What if my startup idea fails?
There are a number of reasons a company may exit early. Failing to make progress for consecutive weeks or otherwise invalidating a core business hypotheses may lead to an exit path. We celebrate failure and encourage you stay in the community.
Why do you only accept software and technology businesses?
Currently, this program exists with a software technology track. As the program grows there is strategic direction include additional industry 4.0 tracks.