GenTech Program Overview
Accelerator Dates: Cohorts begin on the first business day of each quarter:
About this program
BoomStartup General Technology (GenTech) 2017 is a mentor-driven seed accelerator program. The program uses lean startup methodologies to launch early-phase tech startups. Technology driven innovations are changing the world and continue to push the boundaries of technology in our daily lives. We firmly believe that connecting companies with the right mentors, investors and industry experts is the right way to scale companies and create explosive growth.
BoomStartup makes performance-based milestone investments in general technology companies as they mature through our 5-level program, which is backed with analytics, metrics, milestones and aspiration that your startup is ready to take the next step. Companies can receive up-to $100K in seed funding by reaching the fifth level. BoomStartup receives 6-9% of equity across multiple investments based on achieving mutually agreed performance milestones. In addition, companies also receive over $750K of in-kind services, ranging from $100K in AWS, Azure or IBM hosting credits to banking, legal and financial services.
Throughout the accelerator, companies will distill and identify their core company purpose, develop and refine their MVP, obtain traction critically needed to raise capital, and perfect investor pitches. The program culminates in Demo Day, where startups have the opportunity to pitch private investors, angel groups, and venture capitalists. 72 percent of BoomStartup’s accelerator companies have received funding, raising between $500K – $1.5 million.
Utilizing our BoomStartup Online platform, founders can work at their own pace to accelerate their business for up-to 52 weeks, which will help them find an optimal business model, create a minimal viable product that is revenue-ready, execute into revenue generation, and make connections to customers and investors. Even more important, startups receive intense day-to-day mentoring from BoomStartup’s extensive mentor pool of 250+ industry experts, whom will work with startup teams to nail their business model, build their minimum viable product, and get traction.
Below you will find information on a few recent GenTech accelerator graduates who have gone on to become pioneers in their industries.
(Acquired by PierianDX)
BoomStartup is headquartered in downtown Salt Lake City, Utah, at the Impact Hub. Salt Lake City has a thriving startup scene – in fact, it was named number 11 in “The 25 Best U.S. Cities for Tech Startups,” published by Entrepreneur magazine. Utah is home to a healthy ecosystem of successful startup companies, including Domo, Qualtrics and Insidesidesales.com.
150 S. State
Salt Lake City, UT