IN: Startup Accelerator gBETA to Launch 5 Early-stage Companies
14 Feb, 2018
gener8tor, a nationally ranked accelerator that invests in high-growth startups, announced plans today to expand its gBETA program to Indianapolis, helping launch five early-stage companies located in Indiana.
Through the gBETA Indy program, five Indiana startups will participate in a free, seven-week program hosted by Hendricks Commercial Properties at their Massala Building on Massachusetts Avenue in Indianapolis. Participating companies will receive individualized coaching and office space, as well as access to gener8tor’s national network of mentors, potential customers, corporate partners and investors. The program is designed to help startups build consumer awareness with its product or idea, and establish the industry-specific metrics needed to become candidates for angel investment or full-time accelerators like gener8tor.
“Indiana has created an entrepreneurial ecosystem where business accelerators like gener8tor can help foster Hoosiers’ innovative ideas and transform them into successful companies,” Governor Eric J. Holcomb said. “The gBETA program will be the first public accelerator in Indiana’s history, creating a pipeline for homegrown startups to connect with a national network of investors and customers. As a state, we’ll remain committed to fueling startup development, attracting capital investment and creating good jobs for Hoosiers.”
The first cohort of startups in the gBETA Indy program is scheduled to run from April 29 to June 14, 2018. After the initial phase, gener8tor plans to scale gBETA Indy to two or three times per year, with up to five companies participating in each cohort. gener8tor and gBETA have worked with companies from several industries, including: technology, life sciences, advanced manufacturing, medical devices and consumer goods.
Indianapolis-based DATTUS, which was founded by entrepreneurs at Purdue University, was selected to gener8tor’s 12-week accelerator program in Wisconsin in 2016. The company provides IoT (Internet-of-Things) solutions to manufacturers and OEMs, helping them streamline operations through data collection, aggregation, visualization and analytics. Since participating in the program, DATTUS has attracted new investors, expanded its operations and created high-wage jobs in Indiana. The company also received TechPoint’s Best New Tech Product award in the same year.
“Ever since investing in Indiana-based DATTUS in 2016, we have been interested in becoming a bigger part of the state’s startup ecosystem,” said Abby Taubner, managing director of gBETA. “We are honored to be partnering with IEDC to bring our gBETA program to the city, and we hope to be a mechanism for building more connective tissue between the community and our regional and national network.”
As part of Governor Holcomb’s Next Level Agenda to cultivate a strong and diverse economy, the state is committed to making Indiana a hub for innovation by increasing support and resources for entrepreneurs and startup and scaleup companies. gBETA Indy will be the first public, application-based accelerator in Indiana. In order to launch the new program, the Indiana Economic Development Corporation offered up to $70,000 to support the initial phase of gBETA Indy as gener8tor works to establish a long-term presence in Indiana.
The deadline to apply for the gBETA Indy program is April 6 and applications are currently open to only Indiana-based startups. Startups or individuals interested in applying, becoming mentors or getting involved in other ways should contact Chelsea Linder, director of gBETA Indy, at firstname.lastname@example.org. For more information or to apply, visit www.gbetaaccelerator.com/Indy.
gBETA is a program of nationally ranked startup accelerator gener8tor. gBETA is a free, accelerator for early-stage companies with local roots. Each program is capped at five teams, and requires no fees and no equity. gBETA currently operates in seven locations: Beloit, Detroit, Indianapolis, Madison, Milwaukee, Minneapolis and Northeast Wisconsin. gBETA graduates have collectively raised nearly $5.5M since 2015, and 50% have either gone on to participate in a full-time, equity-based accelerator or raise at least $50,000 in seed financing. For more statistics, visit https://www.gbetaaccelerator.com/statistics/.
gener8tor is a nationally ranked accelerator that invests in high-growth startups. Three times a year gener8tor invests up to $140K in each of five startups who receive a concierge experience during our 12-week accelerator program. gener8tor supports the growth of these startups through its network of experienced mentors, technologists, corporate partners, angel investors and venture capitalists.
To date, gener8tor’s 65 alums have cumulatively raised more than $150M in follow-on financing. Of these 65 alums, 57% have raised more than $1M in follow-on financing or have been acquired.
gener8tor invests in high-growth startups, including software, IT, web, SaaS, life science, medtech, e-commerce and hardware. Accepted startups receive up to $140K and 12 weeks of mentorship-driven programming. gener8tor is a proud member of the Global Accelerator Network (GAN) and is sponsored by American Family Insurance.
gener8tor is a GOLD-tier accelerator in the U.S. as ranked by the Seed Accelerator Rankings Project: http://seedrankings.com.
The Indiana Economic Development Corporation (IEDC) leads the state of Indiana’s economic development efforts, helping businesses launch, grow and locate in the state. Governed by a 15-member board chaired by Governor Eric J. Holcomb, the IEDC manages many initiatives, including performance-based tax credits, workforce training grants, innovation and entrepreneurship resources, public infrastructure assistance, and talent attraction and retention efforts. For more information about the IEDC, visit www.iedc.in.gov.