Our venture launching approach is divided into three phases, starting with up to 40 potential founders accepted into the program, and ending with a target of 7 investable, potentially viable ventures:
Our venture launching approach is divided into three phases, starting with up to 40 potential founders accepted into the program.
Our venture launching approach is divided into three phases, starting with up to 40 potential founders accepted into the program, and ending with a target of 7 investable, potentially viable ventures:
PHASE 1
(6-8 weeks)
Individuals will start exploring different opportunity areas while testing different teammates for compatibility and traction. They will also receive further support and education on the basics of entrepreneurship through cohort-based courses, and individual leadership coaching. At the end of this stage, teams that can demonstrate formation around an idea will proceed to phase 2.
PHASE 2
(6-8 weeks)
We will facilitate user research through digital channels. Teams will be able to interact with these users as a fast and efficient way to test ideas and build a user-centric business. Fellows continue to receive the weekly stipend and complete cohort-based courses and team coaching during this phase. Phase 2 ends with an internal pitch day where the strongest teams will be selected to continue into phase 3.
PHASE 3
(3-4 months)
Teams entering phase 3 will receive seed capital from TECA for venture development, founder salaries, and other expenses. Services provided will encompass areas essential to a successful venture launch such as product development, financial modeling, data support, team coaching, and legal formation. By providing access to a highly specialized group of venture experts, we will significantly reduce the risk and transaction costs for the ventures.