Accelerator Model
Successful acceleration/incubation is about mentorship, building strong relationships, and working together.
No matter how strong an ICT company's idea or technology may be, start-ups often run into difficulties because of a lack of basic business skills.
propel Accelerator helps members get market ready but sometimes they just don't know what they don't know! That's where we come in.
Participation is open to early stage companies and "2nd life" companies starting in a new direction.
propel Accelerator links members with established mentors and resources so they can benefit from the amazing regional expertise available.
As a member you pay for the propel Accelerator program through a royalty model. The program is designed to reduce the impact on the finances of a startup firm and to get you in and out of propel Accelerator as quickly as possible.
- no charge during year one
- 5% royalty after year one
- 10% royalty after year two
- 15% royalty after year three
You may graduate from the program at any time. Once you are ready to leave the program we'll make the evaulation together based on the propel standard. Upon graduation members are encouraged to act as a mentor to other propel Accelerator companies.
After graduating you have two options:
- 3% royalty for 2 years if either you or your company becomes a mentor in the program
- 4% royalty for 2 years
It is impossible to attach a dollar figure to the quality of mentorship propel Accelerator companies receive. But it is possible to feel the pinch of a missed opportunity by not joining the program.
