Hello Retriever Entrepreneurs!
The UMBC Launchpad accelerator is a 9-week cohort-based program where ventures prepare to go from pre-launch to launch, or for early-stage companies, create a pathway to accelerate growth.
Founders who are ready to fully commit to launching their venture and have validated their idea as an opportunity should apply. Participants are awarded up to $8,000 in non-dilutive funding for seed capital ($4k after 1 month and $4k at the end). Mentors will be assigned to each team.
Teams will perform deep customer discovery, develop a business model canvas, and then progress to a full commercialization plan and pitch deck. The goals of the Launchpad are to validate product-market fit and to hopefully formalize the venture and launch.
TIMELINE
Applications are due April 30th at 5PM!
Accepted teams will be notified by May 10th
Program runs from May 23rd-July 25th
Demo day will be hosted in September
Weekly meetings are mandatory and will last 2-4 hours and will likely be Thursdays at 4pm
Learning objectives:
• Develop familiarity with Lean LaunchPad concepts and tools such as customer discovery, value proposition design, and a lean business model canvas through the Leanstack model and platform.
• Understand customers’ problems (“pain points”) from THEIR perspective
• Identify modifications to your assumptions required to achieve product-market fit
• Build connections to the commercial ecosystem (i.e. customers, suppliers, funders) for your innovation
• Develop a commercialization roadmap identifying key milestones and required resources to move your idea forward
• Explore the size of your potential market, assess the competition, and identify a beachhead (first) target market
All accepted teams will be required to complete a contract in order to participate and receive the stipend.
To apply, complete the application here (https://www.google.com/url?q=https://umbc.us14.list-manage.com/track/click?u%3Dee2fff53112ade3d728ba8c05%26id%3Da6f2d616bf%26e%3D889cce837d&source=gmail-imap&ust=1714420006000000&usg=AOvVaw3dIvjrNZboSlCVtkBudX7n).
