Does your company need a boost? Incubators and accelerators can be a great option for any young company or even idea to get off the ground. There are numerous programs in the New York area that each offer their own set of resources, connections and methods to help young companies succeed. These programs offer everything from funding, connections with top investors and mentors and collaborative work environments that can last for a few months to a whole year.
Here we have put together a list of the main tech programs in the New York area that anyone can apply to as long as you meet their guidelines.
TechStars
Only 1% of applicants get into TechStars so if you do then you are among the best. The companies get seed funding from over 75 different venture capital firms and angel investors who are vested in their success, along with three months of intensive top-notch mentorship, incredible perks, and the chance to pitch to angel investors and venture capitalists at the end of the program. The companies average over $1M in outside venture capital raised after leaving TechStars.
The program also provides $100,000 in funding and over $268,500 in other resources and perks through partnerships.
NYU-Poly
NYU-Poly started BEST, its first business incubator, at its downtown Brooklyn campus in 2004. In 2009 they partnered with New York City to open a second incubator, Varick Street, in Manhattan as as part of Mayor Bloomberg’s Five Borough Economic Opportunity Plan. In 2009 they also began NYC ACRE, the incubator focused on supporting the efforts of clean-technology-oriented companies.
The goal of each of the incubators is to provide the guidance, expertise, and resources that organizations need to grow into successful ventures that bring economic growth to New York City.
Entrepreneurs Roundtable Accelerator
ER Accelerator will provide all its accepted startups an intensive summer experience in New York to help super-charge their startups.
In the session beginning June 2011, it will offer each company $25,000 in seed funding and three months of:
- Free collaborative office space in the heart of New York City
- Best-of-class one-on-one mentoring from 140+ of industry’s best experts (both during and after the three month session)
- Access to experienced technologists, UI gurus and other product experts
- Free legal and other services
- Hands-on help from inSITE business interns and engineering interns
- Exposure to dozens of leading seed investors and VCs during the Accelerator
At the end of the session, startups will pitch to hundreds of angel investors and venture capitalists and continue to utilize the ER Accelerator network indefinitely!
FinTech Innovation Lab
The FinTech Innovation Lab is an annual program run by the New York City Investment Fund and Accenture for early and growth companies that have developed cutting edge technology products targeted at financial services customers. Through a competitive process, the chief technology officers of the world’s leading financial service firms will determine which proposals are accepted for further development and deployment. Winners will get the chance to refine and beta test their financial technology products in New York City in partnership with these firms.
Each company also receives $25,000 and access to a network of mentors from the participating firms.
First Growth Network
First Growth Venture Network runs a yearly program. Over the course of a session, participating entrepreneurs hone their business plans, work with advisors on product market fit, pacing and development milestones, customer acquisition, and recruitment and retention strategies. In addition, the entrepreneurs will discuss business strategy and share lessons with some of the best in the business while really ramping their networks and occasionally tipping back a glass of Chateauneuf, Napa Cabernet or Riesling. They even have a Broadway star work with our entrepreneurs on their presentation skills. Their core emphasis is learning and the expansion of a network of peers, advisors and financiers (but it doesn’t hurt to have some fun too).
DreamIt Ventures
The goal at DreamIt is simple: Help great people with great ideas build great companies.
The DreamIt founders designed DreamIt to be the startup accelerator program they wish existed when they started and sold their first companies. New startups today need only a little funding, but they need more help and support than ever before. They need a community of fellow entrepreneurs to share ideas and inspiration, technologists to join their team, Mentors and coaches who have struggled on their way to a big success, legal and accounting services that don’t cost precious cash, and opportunities to meet and pitch angel investors and venture capitalists.
Each company also receives up to $25,000 in seed funding and introductions to VCs and angel investors who they can pitch to on Demo Day.
Founder’s Institute
The Founder Institute is a global network of startups and mentors that helps entrepreneurs launch meaningful and enduring technology companies. Through the four month idea-stage incubator program, you can launch your dream company with expert training, feedback, and support from experienced startup CEOs, while not being required to quit your day job. Their unique Bonus Pool also shares equity upside with all participants, creating local, teamwork-based ecosystems where great startups can flourish.
The goal is to “Globalize Silicon Valley” by launching 1,000 meaningful and enduring technology companies per year in 30 cities worldwide. The Founder Institute was founded in 2009 by serial entrepreneur, Adeo Ressi, and is operated out of a small warehouse in the heart of Silicon Valley.
The program has a New York City session.
Women Innovate Mobile
Women Innovate Mobile (WIM) is the first startup accelerator and mentorship-driven program designed for women-founded companies in mobile technology. WIM’s goal is to provide women entrepreneurs with the guidance, feedback and connections needed to make their startups best in class companies and formidable business concerns.
WIM is a three-month mentorship driven accelerator program and our first program is taking place in New York City (March 26 to June 29). The companies will receive $18,000 in funding, free office space, product development and design support, mobile-marketing promotions, and access to an incredible network of mentors, funders and advisors.
General Assembly
General Assembly is a campus for technology, design, and entrepreneurship. They provide educational programming, space, and support to facilitate collaborative practices and learning opportunities across a community inspired by the entrepreneurial experience.
General Assembly is about the shared experience of fellow builders taking risks and growing their ventures. Some of the members use General Assembly as their full-time base of operations, while others use it as a place to meet future colleagues and attend classes, talks, and workshops.
Astia
Founded in 1999 in Silicon Valley, Astia is an innovative global not-for-profit organization that propels women’s full participation as entrepreneurs and leaders in high-growth businesses, fueling innovation and driving economic growth. Astia offers programs for high-growth start-ups that deliver results.
- Provide access to capital
- Ensure sustainable high-growth
- Develop the executive leadership of the women on the founding team
Designed for entrepreneurs by entrepreneurs who understand the value of extraordinary relationships and believe in the give-back, Astia connects entrepreneurs to investors, industry leaders, advisors, and service providers encircling the entrepreneur with a comprehensive value-ad network. Their role is to facilitate access to the proven pathways to success and deliver results.
NYC Seed
NYC Seed was formed to provide deserving New York City seed stage entrepreneurs with the capital and support they need to move from idea to product launch. NYC Seed has brought together many New York organizations to provide funding and support for young companies in New York City.
The program invests up to $200,000 (depending on the number of founders and the amount needed for certain milestones), with the goal of launching an initial product. NYC Seed will provide guidance along with connections to a network of experienced entrepreneurs, venture capitalists and companies in New York City.
