Deadline: 2-Jan-23
Start.coop in partnership with the AARP Foundation is now inviting applications for its Accelerator Program.
Their Spring 2023 Accelerator is for cooperative businesses that are led by founders 50 years or older and/or will have a majority of worker-owners over 50 years of age. Preference will be given to entrepreneurs who are low-income or from low-resource communities. All applicants must reside in the United States.
In Spring 2023 they will host a startup accelerator specifically for cooperative businesses led by entrepreneurs 50 years or older and/or plan to have a majority of worker-owners over 50 years of age.
The Accelerator combines a weekly, live session held via Zoom and asynchronous work between sessions. The weekly time commitment is approximately 4-6 hours.
The Elements
- Coaching
- Established leaders in co-operative business and social entrepreneurship provide custom, individualized coaching sessions to help you set and achieve your business growth goals.
- Workshops
- They provide a robust learning experience for entrepreneurs focused on building real world business skills so you can succeed and scale. They draw on a community of world-class experts who deliver learning modules that range from customer research and market validation to finance and governance.
- Investment
- They provide a $10,000 grant to your co-op to support startup operations. They work closely with you to secure additional financing from individual and institutional investors, co-op loan programs, and philanthropy. Additionally, high performing U.S. based graduates are eligible to apply for follow-on funding from the Equitable Economy Fund.
- Discounts & Recommended Providers
- They curate and secure discounted access to top business management tools and services (e.g. legal, accounting, CRM, and marketing tools) saving you time and money during the critical start-up phase.
- Peer Coaching
- Monthly structured sessions with 3-4 peers. Designed to give you a chance to learn from each other and collaboratively solve challenges.
- Mentorship
- They bring together the brightest minds in the co-op and startup communities to provide you with individualized strategic guidance and support.
Eligibility Criteria
- Their four baseline criteria for start-ups to be eligible for their Spring 2023 accelerator are:
- Share ownership with their community (workers, users, etc.) or plan to in the next 12 months
- Have a vision for scale with the potential for 250 members and/or $1m in revenue by the end of Year 3 post-accelerator
- Based in the U.S.
- Led by entrepreneurs 50 years or older and/or will have a majority of worker-owners over 50 years of age
Selection Criteria
- Their team uses the following criteria to evaluate applicants:
- Social impact: What is the social impact of the business? Does the business have the potential to create a substantial impact for communities of color?
- Financial viability: Does the business model make sense? Is it viable long-term?
- Scalability: Is it a business concept that has the potential to create market shifts? (i.e. lower prices across a market, increase wages across a sector, introduce a new technology with potential for widespread application)
- Industry Experience: Does the founding team have relevant industry experience?
- Ability to execute: Can the founding team execute on their vision?
- Entrepreneur Passion: Are the founders passionate and dedicated? What skills do they bring?
For more information, visit Start.coop.