Everything you’ve done to date has been about identifying a real problem and defining your target market. Once you’ve found a problem worth solving, then it’s time to build a Minimal Viable Product (MVP) to get the job (or some of the job) done for your customer.
The hard part is figuring out what the minimal set of features/services should be?
Our 15-week FastTrack Accelerator helps you to test the market quickly with rapid tests and prototypes and build a solution that is based on real customer feedback.
Application deadline: October 15th at midnight
Successful startups test their assumptions, toss out the ones that are inaccurate, and focus on the ones that are true.
As part of the Accelerator, you will:
Today’s smart entrepreneur builds lean business models (not 40-page business plans). Key to building a viable business is having a high-level articulation of what you do to whom, why they care, how you deliver value, and how you make money.
At the completion of the Accelerator, you will have:
“Without participating in the LaunchBox Accelerator program, I’m pretty confident I would have hundreds of watches sitting in my attic collecting dust and credit card debt collecting interest.”
Founder, Ardor & Forge
All our services are free of charge. We take zero equity in your business and charge no rent to use our facility.
Startups will have access to up to $3000 to help with customer discovery.
Get 24×7 access to our facilities, free Wi-Fi, printing, and coffee to burn the midnight oil for 1 year. (Did we say free? We did.)
In today’s experience economy, companies that provide a high-quality end-to-end experience for their customers have an advantage over those who focus only on the point specific usability of their products.
We focus on early-stage startups in any industry. The FastTrack Accelerator is best for startups who have validated their idea by systematically testing their assumptions through customer discovery and are ready to build a solution and test the market.
We are looking for teams who…
Because we are looking for businesses that want to scale (versus sole proprietors), at this stage of building your business, you will need more than just yourself to get your startup up and running.
Nope. If you have done significant customer discovery and can clearly articulate 1) the problem/need your customer has, 2) exactly who they are and where they hang out (virtually and physically), 3) what solutions they’ve tried before, and 4) what motivates them to continue looking for a solution, then you’re ready for the FastTrack Accelerator.
If you aren’t able to do the above, then the Idea TestLab would be a great place to start.
Note that teams who successfully complete the Idea TestLab are fast-tracked into the Accelerator interview process.
If you already have a prototype or working product, that’s great. The Accelerator program can help you to better define your market, the appropriate channels to drive traffic, the right types of statistics to be tracking, and how best to update or modify your solution based on customer needs.
One question to ask yourself, is whether you have built something based on a deep understand of your target customer, their needs, the solutions they’ve already tried, and the value they are looking for?
If you have a product in the market, how many customers do you have paying for it? That’s a big clue to whether you may need to reassess what you’ve built.
If you can answer the following questions, then the FastTrack Accelerator may be the best program for you.
If you are unable to clearly answers the questions above, or others can’t easily understand what you’re talking about, then the Idea TestLab is probably a better place to start.
Maybe. We’re not trying to evade the question, but that really depends on you, what you’ve learn along the way, the amount of time you’ve dedicated to your business, and whether you are able to create value for your customer.
We can tell you, however, that by the end of the Accelerator, you will have an opportunity to:
Yes. It’s not automatic, but teams in the FastTrack Accelerator will have access to up to $3000 for customer discovery purposes.
No. We take zero equity and charge no fees.
Applications are due by October 15th at midnight.
It is our expectation that all participants are serious about, and dedicated to, building their startup. Teams in the FastTrack Accelerator should be prepared to spend between 8 – 13 hour a week during the course of the program (November through April). Note, teams will not meet over Winter and Spring break.
Time commitment includes 2 hours a week in group meetings, 1 hour a week in 1-on-1 mentoring sessions, and 5- 10 hours preparing for and executing on defined milestones.
To get the most out of the program, we recommend having all the founders and team members attend all the sessions.
Minimally, at least one founder must be present at all group meetings and weekly 1-on-1 mentoring sessions.
We realize that events, interviews, and other activities may conflict with some scheduled meetings, when you cannot reschedule a conflicting event, we’ll work with you on an individual case-by-case basis to keep you up to speed.
The 2-hour group meeting will be held from 6-8PM on the following Wednesdays here at the LaunchBox:
All teams will take part in our Open House “Demo Day” Apr 11th.
1 hour 1-on-1 mentor meetings will be scheduled with each team as schedules allow.
Note: there are not meetings during Winter and Spring break.
Lee brings 25 years of business experience to her job as LaunchBox coach. As the co-founder and CEO of Erickson Barnett, a full-service marketing agency, she worked with B2B technology startups and some of the world’s largest venture capital firms. She also brings hands-on experience with customer discovery and design thinking sprints to help startups drive innovative solutions that solve real problems.