Twenty teams came to
LaunchHouse on July 18 to pitch their business ideas for a chance to be accepted into the inaugural LaunchHouse Accelerator program and a $25,000 investment in their businesses at the Tech UnConference.
LaunchHouse received a $200,000 grant from the
Ohio Third Frontier ONEFund to invest in startups. During the Tech UnConference companies presented three-minute pitches to a panel of Cleveland-area experts. Following the pitch session, companies then had the opportunity to demo their internet, technology or mobile app startup company.
The judges will select 10 companies for the accelerator. More than 50 companies applied for the chance to pitch. The chosen companies will then participate in a 12-week program, in which they will have experience-based lab sessions with one on one mentorship, and opportunities to network with successful entrepreneurs.
The program curriculum is very customer focused, says LaunchHouse CEO and founder Todd Goldstein. “The companies we select have to be very customer-centric,” he explains. “The entrepreneurs will develop their companies with their clients, so at the end of the 12 weeks they’ve identified who is going to pay for their product and accelerate their business.”
Goldstein describes the accelerator as a formalized approach to helping companies. “Up to this point, admission have been on a rolling basis and very informal,” he says. “This is a formalization of the years we’ve spent helping companies.”
The 12-week program will conclude with a showcase day, when the businesses will present to investors and venture capitalists. The 10 companies will be announced on Aug.8, with classes beginning Sept. 4.
Source: Todd Goldstein
Writer: Karin Connelly