757 Accelerate, a mentor-fueled initiative that bolsters startups, recently highlighted the success of its 11 graduate companies, which have collectively generated over $3.5 million in revenue and created over 48 regional jobs. The nonprofit accelerator program, which runs a 12-week course and offers $20,000 in capital to promising startup founders without taking equity, has seen its alumni raise over $10 million in investment capital post-program, as per the 2019 757 Accelerate impact report. The program’s focus on regional collaboration and inclusivity has been key to its success, with over half of the 757 Accelerate alumni companies having underrepresented founders. The program is currently accepting applications for its third cohort, scheduled to run from August 24 to November 20.
Program Impact
757 Accelerate, a mentor-driven program that helps startups grow, reported that its 11 alumni companies have generated more than $3.5 million in revenue and added more than 48 jobs to the regional economy.
Program Details
The nonprofit accelerator program operated its second 12-week course last fall. The program provides promising startup founders $20,000 in capital without taking equity. The alumni have raised more than $10 million of investment capital since finishing the program, according to a 2019 757 Accelerate impact report.
Entrepreneur Testimonial
“757 Accelerate helped us improve our business acumen, build our team, and refine our sales process,” Lee Lesley, co-founder of Addison Weeks, a jewelry and hardware retailer, said in the news release. “The most important change for us, however, was the connections we made within the regional entrepreneurial ecosystem.”
Regional Collaboration
The program relies on regional collaboration. Since the program began, 757 Accelerate said more than 170 mentors representing more than 30 industries have spent more than 680 hours helping the 11 teams grow their businesses.
Inclusive Ecosystem
“We continue to focus on building an inclusive ecosystem that supports the growth of all founders, including women, people of color, and military vets,” said Monique Adams, 757 Accelerate board chair. “We are proud that over half of the 757 Accelerate alumni companies have underrepresented founders on their teams.”
Upcoming Cohort
757 Accelerate is already receiving applications for its third cohort that runs Aug. 24-Nov. 20. For more information: 757accelerate.org.
Question & Answer
What is the impact of 757 Accelerate’s program on its alumni companies?
757 Accelerate’s 11 alumni companies have generated over $3.5 million in revenue and added more than 48 jobs to the regional economy.
What are some details about 757 Accelerate’s program?
The nonprofit accelerator program provides promising startup founders $20,000 in capital without taking equity. The program ran its second 12-week course last fall, and the alumni have raised more than $10 million of investment capital post-program.
How does regional collaboration play a role in 757 Accelerate’s program?
757 Accelerate relies on regional collaboration, with over 170 mentors from more than 30 industries spending over 680 hours helping the 11 teams grow their businesses.
What is the focus of 757 Accelerate’s program in terms of inclusivity?
757 Accelerate focuses on building an inclusive ecosystem that supports the growth of all founders, including women, people of color, and military vets. Over half of the program’s alumni companies have underrepresented founders on their teams.
When is the upcoming cohort for 757 Accelerate’s program scheduled to run?
The third cohort for 757 Accelerate’s program is scheduled to run from August 24 to November 20. Applications are currently being accepted on their website.
