From Blueprints to Buildouts.
Hatch is an intense, hands-on, 4 month mentor based accelerator for high growth companies seeking world-class mentoring and reduced operational costs. Additionally, companies will have access to pre-seed capital as well as the opportunity to meet with several early-stage investors seeking to fulfill their pipeline with organizations with reduced technical risk and proven market relevance.
Hatch offers a hands-on accelerator program modeled on national and international best practices, but is tailored to the unique features of the entrepreneurial ecosystem in Southeastern Virginia. Unlike incubator programs that support companies in need of long-term residency and extended development time, Hatch is a program that enables companies to quickly achieve meaningful “proof-of-concept” and “proof-of-relevance” milestones. The result is an accelerated validation of viable business models that aids both entrepreneurs and seed-stage investors.
Application process currently open, please apply here!
Application Deadline: May 16, 2013
Interviews: May 19-30, 2013
2nd Interviews: June 3-5, 2013
Final Selections: June 6, 2013
Summer Session: July 1-October 31,2013, with additional office space November 1- December 31, 2013
While we leave ourselves open to great entrepreneurs with transformative ideas, we have some general guidelines around company focus. Hatch Accelerator companies are technology companies with a significant technology component, since those are the companies we can help the most. We look for companies best able to take full advantage of the Norfolk opportunity as a starting point to successfully enter the market for their product, service or application. Most Hatch Accelerator companies will be software or software-related in some way, and may be either B-to-B or B-to-C-focused. Our interests are as diverse as your ideas: Internet, Mobile, E-Commerce, Local, Media, Ad Tech, SaaS, Financial Tech, Fashion Tech and Payments. We are looking to you to wow us with anything Internet and software-related that you think is cool. We consider all the business questions around the product business concept and market size. In the end, we want to know if yours is a great team and the right team for your product and business.
Absolutely. We are looking for the most promising business ideas, and we know those come from all over. Once accepted to the program, all Hatch Accelerator companies are then required to relocate to Norfolk for the entire two and half month program.
We have no specific stage requirements, but most companies will have assembled a team and developed an initial product. We don’t reject companies just for being earlier than that, but we like to see the team has made a real commitment to the company.
No. It’s your company. That said, our bias is for two or three person teams, which is based on our experience for the optimal combination of “small enough to move quickly but large enough for idea sharing.” Startups are difficult to do alone.
We don’t require startups to have engineering founders, but we are looking for companies that can make substantial progress on their product during the course of our two and half-month program. Companies with at least one technical co-founder are better able to implement at least some product changes and improvements without hiring additional resources.
While we never say “never,” that would be outside of our standard focus, as the chemistry of a team is critical. Throwing together a business person and an engineer during a Hatch Accelerator program without knowing if they are able to work well together doesn’t make a lot of sense to us.
You can also apply to find a co-founder at http://founderdating.com/.
Yes, we accept companies that have already raised funding.
Although some startups don’t require funding as their primary need, all Hatch Accelerator companies will receive funding as part of their acceptance into the program. We want all the startups in the Accelerator to receive the same basic benefits.
We invest seed funding in each company selected. We don’t vary the amount per founder. We invest in the founders and company, who decide how to use the funds. In addition to this financial investment, our companies are immersed in our operating partner/mentor program, which, in the words of a well-known ad, is priceless. We also provide two and half months’ free office space, free legal, finance, accounting and other business services. In exchange, we receive an 8% equity stake in your company. It’s passive and aligns us with the same economics that you as founders have.
Hatch Accelerator gives you a chance to grow your business with the help of our operating partners and mentors. All this support can’t make your company successful; that’s your job. But we are with you every step of the way, aligning you with our dream team of experts to help with your many challenges —product, functional or industry-related. We have assembled the most experienced group of entrepreneurial experts in Norfolk, all of whom are on deck to help solve every type of operating and strategic problem startups encounter.
Hatch companies will receive up to $25,ooo in funding.
We recognize most startups in the Hatch Accelerator program will eventually require aditional investment. We’ve created a network of investors, both angels and VCs. You’ll have a chance to interact with many of these individuals during the program; we’ll connect you to the investors most appropriate for your company. On Demo Day, you get the opportunity to present your company to hundreds of qualified investors—angels, super-angels and VCs. We can’t guarantee you’ll raise money but we can tell you that investors who are looking for the most promising new startups in Norfolk will hear your pitch.
We don’t. Much like VC firms, we hear too many ideas and see too many pitches to sign NDAs. That said, we are committed to respecting the confidentiality of the information you submit to us during the application process and will not share it outside of the Hatch Accelerator team. We know how hard you work on your ideas.
Hatch Accelerator emerged from Start Norfolk. Founded in Norfolk in 2011, Hatch is committed to growing and building Norfolk's technology and entrepreneurial community. We’ve held dozens of events where startups have showcased their ideas to VCs and seed investors. We have hosted “Startup Night” events, set-up mentoring programs, and worked with virtually every major technology-related community organization in Norfolk. Hatch Accelerator’s founders are committed, passionate members of the Norfolk tech community. As entrepreneurs with decades of experience in technology, media and early-stage venture capital, we have successfully founded, built, run, sold and financed businesses.
We want to hear from you! Please contact us for more information.
Hatch is an intense, hands-on 12-week session and, as such, has high expectations for the companies accepted into the program. Hatch accepts applications from companies located anywhere in the world, but brings them to Norfolk, Virginia, to be mentored and assessed by local, regional, and national experts and investors. Applicants are evaluated according to five criteria; Team, Product, Market, Pain Point and Execution.
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