Run through the NH Tech Alliance’s Alpha Loft Initiative, the program helps startup founders accelerate the growth and development of their business ideas.
Startup founders in New Hampshire can kick off the new year and their new venture by applying to be one of the lucky few companies to participate in Accelerate NH. This intensive program, now in its third year, runs for 12 weeks beginning in February and helps founders take their ideas to the next level through mentorship, support, programming and much more.
The program, which is provided at no cost, is competitive. It is run through the Alpha Loft initiative, which became part of the NH Tech Alliance in 2018 and focuses on incubating and accelerating startup and early-stage companies in NH to help create an entrepreneurial culture of growing companies.
“We’re excited to kick of the fifth year of Accelerate NH. Through this intensive program, 31 company founders have completed the program and have generally reported back that what they learned significantly impacted their business development, marketing and growth strategies,” said Joshua Cyr, director of education and acceleration for the Tech Alliance and Alpha Loft initiatives.
Applications will be accepted through February 3, 2019 and successful applicants will be announced by the end of the month. The program will conclude at the end of May during the final Startup Shindig event, during which time the entrepreneurs present their companies, business models and goals before a large, live audience.
At Startup Shindig, $300,000 will be invested in two to three of the startups in the Accelerate 2019 NH program. The investments come from the Millworks Fund Series II, which supported the program in 2017 and 2018 and also supports the investments made in the annual Alliance TechOut event. Between 2017 and 2019, the Millworks Fund Series II expects to invest $1.8 million in New Hampshire’s startup ecosystem.
Tim Near, founder of Cyborg – a developer of performance enhancing wearable technology with a corresponding mobile app – and part of the 2018 Accelerator cohort, found the program to be extremely beneficial. “The benefits of being in Accelerate NH didn’t end when we finished the curriculum, the network and skills we developed while in the program still have a profound effect on Cyborg’s success. If you want to turn an idea into a thriving growth company, this is where you need to be,” he said.
Accelerate NH is open to founders of early-stage startups headquartered in New Hampshire. Applicants must be NH residents and have raised less than $500,000 for their for-profit business. Applicants will be evaluated on the team, product and business plan.