Why you should apply?
This program will take you from the idea stage and give you the time and skills to validate your idea. While there are many accelerators in Boston, including Tech Stars and Mass Challenge, many BU companies are too immature to gain admittance to the final stages of these competitions. This camp will help you mature your new venture idea and put you in a position to enter the Boston start-up eco system and grow your company successfully.
Qualifying Criteria for Teams
- Commitment to your idea and your team
- Passionate about your idea
- Must not have received significant funding
- At least one founding member must be a BU student or an alum.
Alumni of the Program
These include such companies as:
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Verbal Care, www.verbalcare.com
VerbalCare is a cloud-based, HIPAA compliant platform that connects patients and their care-teams. We believe that care begins with the patient and that quality care starts with better communication.
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Navigating the annual CE requirements for licensure can be a needlessly convoluted and time consuming process. We provide our members with professional expertise, research and networking resources, freeing up crucial time and mental energy. Finding, tracking and reporting courses is now a breeze with our premiere set of tools tailor-made for licensed professionals.
Unitiques.com is the totally free college marketplace that keeps you safe – we’re like Craigslist but without the danger. Conveniently buy and sell stuff on campus or at campuses nearby.
Snow Monkey www.snow-monkey.com
A frozen blend of superfoods, fruits, and seeds that create a creamy, refreshing, protein packed treat. With 6 times the electrolytes of a sports drink, more fiber than 88 blueberries, and more iron than a cup of spinach, this wholesome treat is one of the healthiest and coolest snacks under the sun.
Spaces to Go www.spacestogo.com
Spaces to Go is a platform that connects social, sports, and fitness groups with the spaces they need for the activities they love.
How many applicants do you usually get and how many are accepted?
We usually have around 15-20 applicants and about 10 get accepted. The actual number accepted is discretionary.
Do I have to be a BU Student or alumni?
One member of your team must be a BU student or alumni.
I am not part of a team. Can I still apply?
Teams are preferred, but individuals will be considered.
When does the BU Summer Accelerator happen?
The Accelerator runs for 10 weeks in the summer between June and August. Check our website and social media for the exact dates, which will be released near the end of the school year.
Where is the Accelerator held?
In designated classrooms in Questrom.
How much does it cost?
The Accelerator is free.
What actually happens in the Accelerator?
There are formal mandatory sessions twice a week that usually last 2 hours.
The Monday morning session is generally used to check in with teams about their progress in the past week, look at any problems and outline plans for the coming week. BU professors will give guidance to ensure the teams are focusing on the correct areas. The idea is for teams to also learn from each other.
The other session is a group session and is run by an expert in a particular area, usually from the entrepreneurial community.
There will also be voluntary workshops, which will be determined once the Accelerator has started.
At the final session each team will give a 10 minute presentation in front of a panel of Boston based venture capitalists and angel investors. If the experts are interested they commit to spending some of their time helping the teams.
What mentoring is available?
2 external mentors (who are usually alumni, investors or successful entrepreneurs) are allocated to each team. 1 will be a business mentor and where possible the other mentor will have some experience with whatever area each team is working on.
What if I have a great idea and when I ask my friends they say they would buy it, but I don’t know anything about entrepreneurship, should I apply to this program?
Yes, if you really believe in your idea and are willing to make a commitment to finding out whether it is viable. The most important thing we are looking for is a team’s willingness to devote time and energy to the program. Teams are expected to attend the 2 formal session every week and to spend at least 50% of the other time in the incubator spaces provided at Questrom.
What happens if I need to miss sessions?
Session are mandatory and you may be asked to leave the Accelerator if you don’t attend. If you cannot attend sessions because you are testing your product then this might not be a problem, but you would be missing out on the benefit of the Accelerator for that time. You would need to discuss this with Ian Mashiter if you were accepted into the Accelerator.
How do I apply for funding?
You can explain why you need funding on the application form.
Who decides on the funding?
There is a funding committee who will consider funding applications from the teams. There are discretionary stipends of up to $10,000 for some of the successful teams. Funding is usually not allocated before the accelerator starts and may be made incrementally throughout the Accelerator.
What happens if I need more hands to help with my project?
We have helped find interns for some teams in the past. If you think you may need an intern, please let us know as soon as possible.
What happens after the Accelerator?
Many of the previous teams from the Accelerator have been successful at the pitch & pizza competitions that the BUzz Lab runs throughout the school year. Some of the teams who have been through the Accelerator have gone on to raise funding and a few have been accepted into other venture accelerator programs like MassChallenge.