DETROIT — TechTown has announced the details surrounding its new Venture Accelerator for technology-based startups, launching April 8. The highly competitive program is designed to show entrepreneurs how to turn an early stage, technology based startup into a sustainable, market-ready business in 12 weeks. Those accepted into the program receive a $10,000 loan, plus access to upwards of $15,000 in additional funding and available services.
The curriculum is based on “The Startup Owner’s Manual,” a step-by-step business development guide written by famed serial entrepreneurs Steve Blank and Bob Dorf. Areas of focus include testing concepts, exploring markets, developing business models, building prototypes, acquiring resources, finding potential customers, and aligning with partners.
Entrepreneurs selected for the full-time program will operate out of TechTown, meeting regularly for facilitated workshops, mentor meetings, presentations by CEOs working in technology-based industry segments, and networking with peers. Time spent outside of formal classes will be spent pursuing customer validation and acceptance. In week 12, the startups will pitch to potential investors for early stage funding opportunities.
Applications for the Venture Accelerator are accepted twice a year, opening Feb. 15 for the April session. Applications for the September session will open in July.