Startup accelerators are intensive two to three-month programs that established startups (those that have a fixed team, minimum viable product, and clear customer profiles) attend to accelerate the growth of their business. Accelerators typically involve a selective application process. Once accepted, startups receive education, mentorship, networking, and potential funding.

At COVENTURE, we offer a highly customized 12-week program for up to six companies that must be based on the Western Slope of Colorado, have strong ties to one of our rural communities and be committed to scaling their business in that community.

Most startups enter accelerators in hopes of walking away with funding from investors. Some programs guarantee some sort of funding in exchange for an equity stake. Other programs give away limited amounts of funding for nothing in exchange (besides successful completion of the program). In terms of preparing for accelerators, startups do not typically need to have any funding beforehand. Although, it can be assumed that some money is needed (whether through funding or bootstrapping) to develop a product, team, and customers — and therefore qualify to apply. 

At COVENTURE, we consider companies that have at least one year of revenue in excess of $250k, a clear market opportunity and/or an established executive team that has the ability take company to the next level.

From nearly zero programs in 2005 to almost 350 in 2020, the number of startup accelerators in the U.S. has risen substantially in the past couple of decades. This has allowed even more startups to learn, improve, and grow. In fact, these accelerators have invested nearly $20 billion in over 5,000 startups — and that’s just in the U.S. alone. 

At COVENTURE, 22 of our 30 business accelerator graduates have collectively raised over $22.1M dollars which has resulted in over 138 new jobs on the Western Slope with over 82 being in the Roaring Fork Valley.

The 2022 Accelerator Program was focused on non-profit organizations that are helping with economic resilience.  This program will run in the Fall as an intensive two-week experience with six follow-up sessions.  For those businesses interested in the Accelerator experience, our recent partnership with the Founders Institute provides a vast array of online accelerator programs.  Contact programming@coventure.io for more information.