Velocity’s Accelerator program offers early-stage businesses deep evaluations and assessments, and launches accepted businesses on an accelerated trajectory towards guided success.
About the program
Whether through referral or application, entrepreneurs can enter the Accelerator after meeting with one of Velocity’s Entrepreneurs In Residence who will review the company’s business model and determine if the Accelerator is an appropriate fit.
Though businesses of any size and industry are welcome to apply, the Accelerator primarily focuses on the following:
- Technology and manufacturing industries
- Growth- or scale-stage businesses
Evaluation and Assessment
Our approach to assessing business concept viability and growth potential begins with our CollabortaoryInk program, a facilitated assessment of the proposed concept and strategy. This approach provides both seasoned and new entrepreneurs the opportunity to confidentially discuss their vision, goals, and strategy with a team of experienced, serial entrepreneurs, who are subject matter experts from multiple disciplines.
Participants receive a consolidated assessment of their concept, strategy, funding ability, success potential, talent evaluation, and risk mitigation recommendations to inform a successful launch.
Entering the Accelerator
Upon entry into the Velocity Accelerator, the Accelerator team will advise and support entrepreneurs in building and implementing organizational development best practices including:
- Overall business strategy documents with performance milestones and metrics
- Financial planning and controls
- Strategic sales and marketing plans
- Market research
- Assistance navigating contracts, leases, business agreements, and organizational structure
- Financial modeling and investor relations
- Operational processes, business procedures, and policy manuals
- Human resources support for employment agreements, payroll processing, HR manuals
- Technology platforms such as managed services, phones, and remote work platforms
In addition to Accelerator assignments, entrepreneurs will be required to participate in educational programs for risk mitigation, compliance, and leadership development to ensure organizational sustainability as the business grows.
Exiting the Accelerator
Our proven process is specifically designed to launch properly supported and funded businesses 120 days after entering the Velocity Accelerator.
Our metrics for success include:
- A legal entity established, including any trademarks or patent filing
- All disciplines (accounting, banking, marketing, technology, legal, operations, and resources) are in place with recognized relationships between the chosen provider and the entrepreneur
- Financial proformas created with milestones or a 24-month financial plan with budget
- Developed marketing plan including initiatives for capturing B2B or B2C customers
- A 20- to 30-minute podcast interview that integrates into social media marketing
- Funding relationship in place with a financial institution or private equity source
- On-target growth metrics both top-line revenue and EBITDA projections
Entrepreneurs who have completed the Velocity Accelerator program are able to continue using Velocity resources at discounted rates to support further expansion and success.