Unlike traditional accelerators, BoomStartup operates virtually through an online platform, allowing us to reach more founders and deliver broader resources to their companies. Companies start by applying to the program here. In the initial application, we collect metrics and other information about your business and use this data to generate a score card that provides ratings across seven critical categories, showing you where your company stands today. More importantly, we generate a custom business plan laying out a path to success with detailed steps and defined metrics needed to reach each milestone.
Through our online platform, we provide the resources you need to successfully work through your custom business plan, including educational resources, mentoring from seasoned professionals, investor introductions, pitch development, and a marketplace with pertinent solutions from trusted services providers. Given the virtual nature of the program, 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.
Below you will find information on a few recent accelerator graduates who have gone on to become pioneers in their industries.
As companies mature through our 5-level program, they become eligible to receive capital. Companies that reach the 5th level can receive up-to $120k in seed funding, which is deployed across multiple investments based on achieving mutually agreed performance milestones. In return, BoomStartup receives 6-9% of equity in each company. In addition to capital, companies also receive increased access to valuable in-kind services, including technology, banking, legal and financial services as they reach new milestones.