Pre-accelerator Launched for Indiana Startups
September 18, 2019
Elevate Ventures today introduced a new pre-accelerator program that has been created to prepare aspiring entrepreneurs within higher-education institutions and the communities they serve to launch Indiana startups.
The program, called Elevate Origins, will use online classes and on-site gatherings to teach entrepreneurs to expand their ideas into a business model ready for investors, a 10-slide pitch deck and an executive summary.
“Colleges, universities and communities can be the pillars of innovation and entrepreneurial success in the future,” said Elevate Ventures CEO Chris LaMothe. “Elevate Ventures is determined to be the catalyst for this transformation. We are delighted to partner with gener8tor to provide the support and mechanism to launch this grand effort.”
Elevate Origins was developed and will be administered by gener8tor, a Wisconsin-founded platform of accelerators that includes gBETA in Indiana. After completing the Elevate Origins training, alumni have access to a suite of resources and opportunities such as ongoing office hours, introductions to mentors and investors upon hitting certain milestones, automatic interviews for the intensive, seven-week gBETA program, and the opportunity to pitch at an Elevate Nexus pitch competition.
“I’m excited to partner with Elevate Ventures to prepare even more startups to participate in an accelerator like gBETA, take future investment and grow their companies in Indiana,” said gBETA Indy Manager Chelsea Linder. “This program will be a great way for universities to support their entrepreneurial students and community members who haven’t previously had access to resources such as ours.”
Companies can participate in Elevate Origins at no cost as a result of funding from the 21st Century Research and Technology Fund and a grant from the U.S. Economic Development Administration. The 21 Fund is administered by the Indiana Economic Development Corporation (IEDC) and managed by Elevate Ventures.
“As a state, we’re committed to cultivating an entrepreneurial ecosystem that gives Hoosier entrepreneurs the tools and resources they need to foster innovative ideas and transform them into successful, growing companies,” said Elaine Bedel, president of the IEDC. “Under this new program, homegrown startups will have increased access to mentors who can help enhance their business models and pitch decks, as well as the opportunity to gain early customer traction and compete for capital investment through Elevate Nexus and gBETA Indiana.”
Entrepreneurs who are eligible for Elevate Origins will have a business idea that is national or global in scope, could exceed $500 million in annual revenue, and is based on an innovation and has a potential competitive advantage.
Elevate Origins will be offered at least once per quarter. The deadline for the first series is Oct. 1. Entrepreneurs can apply at www.elevateventures.com/apply.