Triad Startup Lab 2104 is an immersive hands on 10 week accelerator experience for Triad startups who want to grow their business rapidly. This summer, founders and teams will roll up their sleeves in a shared office space, working alongside experienced mentors and advisors that impart their business acumen and open their networks.
Each 10-week session is designed to meet the specific needs of each participant head-on:
Part 1. The session begins with intensive small-group meetings for peer evaluations and assessments. Serial entrepreneurs, investors, and industry experts form mentor teams that provide startups with recommendations, business and technical resources, and work assignments. They meet weekly for the first five weeks, guiding participants through each critical milestone.
Part 2. Participants and mentor teams agree upon goals and objectives for the second 5-week period, and then startups work independently. During week 10, entrepreneurs reconvene with their mentor teams for review and evaluation of work assignments.
At the end of the 10-week accelerator, startups are ready to meet future growth challenges. Award packages will include cash and mentor/expert services that will be awarded to accelerator participants who demonstrate excellent engagement in the accelerator process, constructive teamwork with other companies and progress towards business goals.
WHAT TO EXPECT
Idea-Stage Companies. These companies will develop a start-up business plan, test their assumptions and get “customer ready.” Triad Startup Lab uses the “lean startup” methodology of customer validation: business- and hypothesis-driven experimentation that iteratively builds products or services to meet the needs of early customers. In order for the results of Triad Startup Lab have a significant and long lasting impact, we will question and prove our assumptions using Minimum Viable Product (MVP), seek confirmation via Split Testing and Actionable Metrics and consider Pivoting structured course corrections when necessary. Web based companies clearly benefit the most from this process, but all will be considered.
Early- and Mid-Stage companies will prepare to actively seek funding and expand sales through customer development and innovation. Planning, design thinking, strategy scrubs, pitch design, practice and prep will be benchmarks of this program. Tools for creative problem-solving and product design and development include: market research and testing with MVP, and best practice design engagement models like Ten Types of Innovation.