The Impact Venture’s Startup Accelerator is a 12-week program designed to train and develop underrepresented women, minority, or social impact focused startups. Our program is both mentor and curriculum driven, with the goal of equipping founders with the tools necessary to accelerate venture traction or prepare for a capital raise.
We’ve spent the past several years developing a program aimed to address the barriers and challenges for Women and Minorities, while democratizing the process to participate in inclusive wealth creation. Our motto “Accelerating and investing in all shade of genius” informs our belief that opportunity is evenly distributed across zip codes, however access and opportunity is not.
Program Objectives:
- To accelerate and support the development of high potential startup companies lead by underrepresented Women and Founders of Color.
- To increase social capital and professional networks of underrepresented Women and Founders of Color.
- To supplement access to scale through corporate pro-bono consulting, technical assistance, and discount business services.
- To facilitate access to capital and bridge the equity gap between early-stage ventures and fundable businesses.
- To help high potential companies define, develop, and scale products, identify customer and market segments, and secure resources to succeed in the local and global marketplace.
- To build enterprise capacity to support local job growth and community impact
The Impact Venture’s 12-week accelerator program is designed to empower underrepresented entrepreneurs, putting them on a fast track to gaining traction within their startup. The program is structured to fit the full-time founder or the part-time “intra-preneur”, offering a flexible part-time program while maintaining quality education, community, and high-level networks. Through our research we’ve grouped our program tracks into 3 focus areas; Smart Tech, Social Tech, & Grow Local. Impact Ventures has created unique pathways for each track, and tailors curriculum and support for each startup accepted into our program.
Focus Areas:
Smart Tech Track – is designed to support companies focused on building tech or tech-enabled products in sub-sectors including data analytics and visualization, Internet of Things (IoT), artificial intelligence (AI) and machine learning, blockchain, augmented and virtual reality (AR and VR), and beyond.
Social Tech Track – is designed to support companies focused on addressing social, economic, and/or environmental disparities. We believe tech can be used for good. Social Impact areas: Health, Education, Economic Security, Public Safety, Workforce Development, Policy and Advocacy, and Social Justice.
Grow Local Track – is designed to support the growth of local Small Businesses spurring economic and workforce development in South Dallas-Fair Park. We believe business can be a pathway out of poverty that impacts local communities, create jobs, and sustains families. Examples: Brick and Mortar Businesses, Healthy Food & Beverage, Construction & Logistics, Barber/Salon, etc.
Impact Ventures 12-week Accelerator Program works with early-stage founders from under-represented and non-traditional background building profitable, high-growth companies.
Smart Tech / Social Tech Track Requirements:
- Women, Person of Color, LMI, Veteran, or Social Enterprise (see program tracks)
- Startup must be a for-profit enterprise
- Startup must be tech or tech-enabled (Which one are You?)
- Post Revenue or Minimum Viable Product (MVP) stage preferred, but not required
- Looking for Seed to Series A Capital
- Less than 5 years old
Grow Local Track Requirements:
- Women or Person of Color
- Must be a for-profit enterprise
- Must be currently in operations at least 3+ years with revenue at least $50k+ per year
- Located in or Servicing South Dallas – Fair Park (Designated zone with South Dallas Opportunity Fund or Federal Opportunity Zone)
- Looking to EXPAND operations through:
- Economic development (Brick & Mortar)
- Workforce Development (Jobs)
- Food Swamp/Deserts (Healthy/Expanded food Options)
The Impact Venture’s Startup Accelerator is a 12-week program designed to train and develop underrepresented women, minority, or social impact focused startups. Our program is both mentor and curriculum driven, with the goal of equipping founders with the tools necessary to accelerate venture traction or prepare for a capital raise. Below is a list of program benefits:
Program Benefits:
Dedicated Mentors: Our program’s curriculum is led by experienced executives who have demonstrated significant entrepreneurial success and leadership, business acumen, and are committed to accelerating the impact and financial sustainability of underserved entrepreneurs in North Texas. Our advisors commit 2 hours per week to the growth and development of participating ventures, including one hour of weekly face-to-face meetings per venture and one hour of virtual follow-up via our technology platform. Through a collaborative process, coaches assist Startup Ventures in developing individualized road maps using the Village Capital Venture Investment Readiness Tool (VIRAL) and assist in achieving significant milestones and goals.
Dedicated Venture Associates: Startup Ventures receive access from local university partners to Pre-MBA/MBA students ready to assist with projects on an as-needed basis. Tailored support is offered within the areas of marketing, law, accounting, bookkeeping, financial modeling, + more.
Pro Bono Professionals/Corporate Partners: Startup Ventures receive access from a robust network of professionals, ready to assist through our corporate hacks. Tailored support is offered within the 5 curriculum competencies of founder development, customer development, product development, company development, and traction.
Executive Mentor Office Hours: Startup Ventures expand their networks with weekly opportunities to meet with influencers, executives, investors, elected officials, high-level policymakers, and business leaders.
Use of the Impact Ventures Office Space HQ at GoodWork: Startup Ventures have free membership at Impact Ventures Office Suite at GoodWork throughout the 3-month Accelerator. Membership includes use of our co-working desks, WiFi, printing, a mailing address, conference room meeting space, and parking. GoodWork is located at 1808 S. Good Latimer Expy, Dallas, TX 75226.
Peer Evaluation/Learning: An important component of the program is building a support network of like-minded entrepreneurs. Startup Ventures learn from one another, find solutions, and share challenges, resources, and successes. Startup ventures participate in weekly networking events, investor dinners, hack sessions, online webinars, and more.
The Impact Program Staff: We are here to ensure your success by making timely connections with potential clients, investors, procurement officers, policymakers, government officials, and mentors.
Increased Visibility: Impact Ventures helps increase Startup Ventures’ visibility through special events, cohort roadshow to SXSW, media referrals, featured articles in publications, as well as our Website/Medium Blog, and Podcast.
Startup Perks: Through our partnerships we provide over $125k worth of free and discount services through Microsoft for Startup hosting credits, HubSpot for Startups CRM tools, LeanStack, EOS, Asana, Quickbooks, and more.
The ideal candidate is a high-potential entrepreneur who is interested in external assistance to accelerate his/her venture. When assessing applications, we select participants based on the following criteria:
- Team: Explain how your team is best positioned to solve the problem.
- Product/Service: Explain how your product or service works.
- Business Model: Does your business solve a problem? Describe your plan for growing and sustaining your business.
- Customer: Explain why you believe customers will pay for your product or service
- Financials: Explain how your company will be profitable or remain financially viable
- Impact/Scale: Is the company set up for long-term success? Describe your plan to grow and scale your company’s work and impact.
- Return on Capital (Financial and/or Social):
- Financial: If an investor invests, will they receive a financial return? If an institution loans, will the team be able to repay the loan?
- Social: If a foundation or donor supports the mission, will the team make the impact that it claims to make?
September 2nd, 2019
Applications Open
September – November
Interest Meetings Begin – Sep 10th, 17th, & 24th
October
Founder Open Pitch Practice – Oct 1st, 8th, & 15th
November 29th @ 5:00pm
Program Applications Close
December 2019
Startup Internal Due Diligence Begins
January 2020
Selection Committee Due Diligence Begins
February 15th, 2020
Cohort Participants Selected
February 29th, 2020
Accelerator Kickoff Reception
March 3rd, 2020
Accelerator Program Begins
May 22nd, 2020
Accelerator Program Ends
May 30th, 2020
Accelerator Showcase Event
Applications to join Impact Ventures Spring 2020 Accelerator Cohort are open. Applications are due November 29th by 5pm. Please see the Key Dates section that outlines our application timeline and the activities leading up to selection date. Also, please note that all info shared is subject to change as we are still procuring additional resources to support our fellows.
Please watch our program overview webinar and proceed to the link below to apply.
Apply for Impact Ventures Spring 2020 Accelerator Cohort
