Today, we launched the new Atlanta Ventures Accelerator for prototype-stage startups (great ABC coverage). As part of the program, startups receive a $20,000 investment from Atlanta Ventures and a $100,000 convertible note from the BIP Early Stage Fund. Our goal is to help coach and mentor the startups to then raise a $500,000 seed round after the program.
Here are a few details on the Atlanta Ventures Accelerator:
- Two or more co-founders are required with an in-house technical person or a technical person identified that will join at the start of the program
- Rolling admission and not cohort based (we don’t do cohorts since we want to be flexible to the timing needs of startups and we have the Atlanta Tech Village education programs, mentors, and speakers)
- Focus is on helping startups find product / market fit and complete stage 1 of the startup process, followed by raising a seed round of financing
- Instant community comes from the Village and the 100+ other startups
- Office space during the program is included at the Village
What else? What are your thoughts on the new Atlanta Ventures Accelerator?