Fall 2013 Accelerator
InterSector is now taking applications! The deadline to apply is Monday, October 14th, 2013
The Idea Foundry is pleased to announce that it is now accepting applications to the Fall 2013 Session of its InterSector Accelerator. The InterSector Accelerator Program is designed to support entrepreneurs in the social innovation sector, and is seeking applicants with ideas for for-profit businesses that will provide market-based solutions to some of our most pressing societal problems.
Qualified teams will present ideas that are revenue-generating and that also provide positive environmental and/or social impacts on our communities. InterSector is appropriate for companies who are just at idea stage, through those who are already piloting their products or services.
InterSector will award cash investments of up to $10,000 plus three months of business development assistance to capable teams of entrepreneurs who aim to make money while doing good. In addition, teams who successfully complete the program will have the opportunity to be fast tracked to a $50,000 investment from Idea Foundry’s core program, the Idea Transformation Fellowship.
Applicants are invited to submit applications by October 14, 2013.
After the application cycle closes and we have reviewed all submissions, the strongest applicants will be invited to pitch their idea to our team of social enterprise advisors. Successful delivery of your pitch will result in an offer to officially sign on to the InterSector Program, a 12-16 week, hands on, collaborative engagement, beginning in early November.
During this time, each entrepreneur will work closely with the InterSector team, meeting each week for 12-16 weeks to substantiate your business model, work on business planning, and create strategies that will enable you to launch a sustainable, high-impact business that will solve problems in our local communities.
Specifically, we will work with you to:
- Solidify the problem you are addressing and determine the most impactful and profitable solution to that problem
- Uncover challenges to building a profitable business that creates sustained environmental and social impacts.
- Explore market threats as well as opportunities to your idea within the region
- Design strategies to address these challenges and opportunities
- Understand the competitive landscape and begin discovering potential partnerships
- Connect to community stakeholders interested in your idea and to build a network of support
- Determine a market entry strategy to demonstrate proof of concept
- Develop a sales pitch to acquire a pilot/first customer
- Accurately represent your concept and its market conditions to the InterSector team and to potential stakeholders.
At the conclusion of the 12 week program, if we determine that your enterprise shows significant potential for achieving double bottom-line success (meeting mission and profit goals), you will be asked to apply to our core Idea Transformation Fellowship Program, where you will receive funding and hands-on-help in bringing your solutions to market.
We hope you’ll accept this invitation to work with us in creating a sustainable impact economy in our region!