Applications are now available for the 2010 N2TEC Technology Accelerator in Sioux Falls, SD
Six new technology businesses launched out of the 2009 Accelerator. Yours could be next.
Get your technology business started surrounded by a team of experts and great resources!
Benefit from:
- Mentor teams for each business
- Business and industry experts
- Workspace and collaboration opportunities
- Investor Access
- Networking Events
Important Dates:
April 1, 2010 Applications due
April 10, 2010 Candidate pool selected and interviews begin
April 20, 2010 Participants learn if they are accepted and receive community resource information
April 30, 2010 Participants commit to the program and to the community they have chosen
June 7, 2010 Accelerator begins (the exact date is subject to change depending on the obligations of the final group selected.
Types of Companies and Their Status
- Candidates must be entrepreneurs, or early stage startups with technology-based business plans, who are ready to launch their business and gain traction. They may apply in two categories:
- Launch Candidates: These entrepreneurs have technology business concepts that they need to refine over the summer with mentoring and coaching so they can prepare business plans that can be used to pitch to potential investors.
- Startup Candidates: These entrepreneurs have technology business plans and are seeking seed investments to launch or grow their businesses.
- You will be asked to submit an application answering a number of important questions about your business concept and technology. You will also be asked to submit bios of the team members.
How the Program Works
Applicants must submit an on-line application to N2TEC. The application is available at www.n2tec.org. Applications will be reviewed and we will schedule phone/SKYPE interviews with the finalists.
One-week N2TEC Accelerator Training Program
All selected candidates will receive a $2,000 grant and a seat in the week-long N2TEC Accelerator Training Program (NATP) in early June 2010 in Sioux Falls, SD. The one-week program is required of all candidates and will be operated in a manner similar to the 2009 program. The goal of the program is to help the candidates address critical issues in the launch of their businesses and get them positioned for additional resources and potential investor funding.
Launch Candidates
In addition to the $2,000 grant and a seat in the NATP, launch candidates may receive an additional $2,000 and six weeks of mentoring and coaching on their business plan by N2TEC staff and community enterprise organizations that work with entrepreneurs. They will have the opportunity to participate in a “deal dating” event with investors at the completion of the six weeks.
Start-up Candidates
In addition to the $2,000 grant and a seat in the NATP, start-up candidates will receive coaching on their investment pitch and have the opportunity to pitch to obtain up to a $40,000 initial investment in their business. Depending on the requirements that a community attaches to its portion of the investment, the investment may or may not require the candidate to give up equity in their company but will require them to launch in the community that has financially supported their business.
Am I restricted in how I spend the money?
No. Typically the money will be used to support your stay and your efforts to commercialize your technology through a start-up company.
How will I get in front of investors?
We are collaborating with a large number of angel and venture capital investors who have a strong interest in the technologies coming out of the N2 TEC Accelerator. You will have numerous opportunities to meet with these investor groups during the 8 weeks of your stay and participate in a pitch event at the end of the 8 weeks as well as have the opportunity to make an investment pitch to equity investors at the Innovation Expo in October 2010.
You can find the guidelines and application form here.