ActivateNM Powered by ABQid and WESST
ABQid and WESST are excited to announce a new accelerator program in 2018, ActivateNM! We’re looking to help 5 to 10 of New Mexico’s most promising software startups with high growth potential through an immersive 8-week curriculum followed by ongoing weekly sessions to drive achievement on key growth milestones.
Who Should Apply?
Activate’s 2018 program seeks early stage software or software-enabled startups, typically meaning pre-launch and/or pre-revenue, with little to no outside funding raised. In some cases businesses who have their first few customers or even raised some capital may be a great fit as well. We aim to offer value through feedback on your application regardless.
We like to see applications from founding teams rather than single founders, though solo founders ready to build their team are encouraged to apply as well.
Your technology product need not be market ready to apply, but you should have a working prototype (if a technical founder) or an advanced understanding of the problem you’ll be solving (if a business founder).
- 8-week lean startup-based curriculum taught by business leaders and covering business model validation, MVP launch, and fundraising
- Award-winning space for companies to cowork and hold client meetings for the duration of their participation
- Hands-on consulting in accounting, finance, and software provided by experts at ABQid and WESST
- Weekly facilitated program lunches for peer mentorship and support
- Fast-track applications to ABQid pitch events such as Balloon Pitch and Ski Lift Pitch
- Free or reduced rates to other ABQid and WESST offerings
- Perks such as free and reduced software and ability to work in cities around the world through ABQid’s membership in Global Accelerator Network.
Commitment & Cost
While there is an 8-week curriculum outlay customized for each company in the cohort, the program itself lasts for as long as it takes for your startup to achieve the milestone(s) you set out to hit as part of onboarding. Typically, companies will be expected to move through the program in 3-6 months.
Those who hit their milestones graduate to become alumni and have the chance to join the NM Startup CEO Network. Those who fail to make progress for consecutive weeks or who otherwise invalidate their core business hypotheses will be asked to leave the program.
Entrepreneurs will be required to participate in all Wednesday 12-2pm sessions, attend workshops as determined during onboarding, give full time effort (~40 hours/week) to your company, and connect at least weekly with the ABQid Program Director and your Team Mentor.
Some participants are eligible to receive a $2,000 scholarship to participate. Scholarships will be granted based on financial need. A monthly program fee of $100 is required for all participating companies.
Applications close August 31, 2018, and the program begins October 15.
ActivateNM’s program design is based on three key pillars:
- Build. Everything about the program will be designed to help founders build valuable businesses. We’ll measure program success based on participant successes: New revenue, new funding, or both!
- Disrupt. Innovative, transformative ideas are what we’re after. We know that big ideas must start small, but we know that big vision is what differentiates high-growth companies from those that end up staying small.
- Community. We believe that as all kinds of entrepreneurs build and disrupt the status quo together, a strong community is built that leads to a force multiplier effect. As some businesses fail, talent from that company jumps on board with a company that’s finding success. We’ll keep the big picture in mind one company at a time: prosperity in New Mexico.