is now accepting applications through July 14 for their 2013 program.
Started in 2011 by The Ohio State University Fisher College
in collaboration with the Founders Factory
, 10X is a mentor-driven accelerator focused on converting promising entrepreneurial ideas into viable businesses and, ultimately, sustainable companies.
We’ve held three programs so far graduating 27 companies, which have gone on to acquire customers and raise follow-on capital,” says Brooke Paul, an “innovation catalyst” with 10X who is currently the founder and CEO of Taivara
. “In total, past 10X graduates have acquired real customers and revenue as well as raised over $9,000,000 in additional capital from follow-on investors.”
Applicants interested in joining the 2013 class must submit an online application that includes a video pitch. “We are looking for high-caliber entrepreneurs and teams who have disruptive solutions that impact one of four core business sectors,” Paul explains. These sectors include big data and analytics, educational technology, cyber security and logistics technology. Applications are evaluated based on the founding team, maturity of the idea, potential market size and financial viability.
Selected startups will have the opportunity to join the ranks of other successful ventures such as Acceptd
. Benefits include $20,000 and 10 weeks of intensive work with mentors and advisors.
“We’ve assembled a network of mentors and advisors with real-world experience building business in our core business sectors,” says Paul. “By leveraging our mentor network, we can select the best applicants and accelerate the validation of disruptive solutions and acquire customers quickly.”
Channeling the experience of their mentors into four specific categories with startups interested in the same field will lead to a higher probability of success, Paul believes. Not to mention help solve real problems.
“We believe that acceleration activities should be directed at validating solutions with real-customers and a focus on moving quickly to market and revenue growth.”
Source: Brooke Paul
Writer: Joe Baur