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The Labs Venture Accelerator is an intense, fast-paced program that takes you through the process of how to turn your early stage technology startup into a market-ready business. You will build your venture’s business model and obtain firsthand customer feedback to validate it. By the end of the 12-week program, you should have enough market insight to firmly understand the problem that your venture seeks to solve and have developed a pathway for how your venture will do so.

The program will cover:

  • Developing and testing your value proposition
  • Identifying customer segments; understanding the differences between customers, users and payers; defining product/market fit
  • Exploring distribution channels such as physical versus virtual; direct, indirect and OEM; multi-sided markets; B-to-B versus B-to-C
  • Developing customer relationships and creating end-user demand
  • Understanding revenue streams; developing your pricing strategy and revenue model
  • Understanding how and why to establish partnerships; determining benefits, costs and risks
  • Determining resources and activities needed to build your business; how to handle the associated costs
To learn more about the program, come to our sampler workshops that start February 5. You’ll get a firsthand sampling of what the program’s like and have the chance to get answers to any questions you have.
 
Labs Venture Accelerator Schedule
  • Applications open: Monday, January 13
  • Sampler workshop at TechTown, Tuesday, Feb 25, 5:30 p.m. on:
  • Application deadline – 5 p.m., Friday, March 7  - EXTENDED TO 5 P.M., WEDNESDAY, MARCH 12
  • Finalists interviews – Monday, March 24 and Tuesday, March 25
  • Finalists notified – Friday, March 28
  • Program begins – April 5
  • Program ends – June 25
Getting Started with Your Application:
 
First, you’ll need to register for a FluidReview account. Registration can be found in the upper right-hand corner of this page. Once registered, you may simply log in. You do not have to complete the application in one sitting, but you will need to log into your account each time you enter FluidReview. So, be sure not to lose your account login information.
 
Once logged in, you will find more information about the Labs Venture Accelerator under the “Resources” link located on the upper right-hand corner of the page. These information documents are titled:
  • Program Information and Expectations
  • Labs Venture Accelerator Agreement
You will need to read this information and acknowledge that the expectations and agreement are acceptable to you. You will be asked to sign these documents if you are accepted into the program.
 
Requirements for Application Completion:
  • Answer all the questions fully and address the specific information requested (you can preview the application here)
  • Create a video about your venture that is no longer than three minutes. Acceptable video formats are Windows Media Player and QuickTime.
    • During the first two minutes of your video, describe the market problem and the solution your venture provides.
    • During the final minute, describe yourself (and any team members) and the role you (and your team) play in the venture.
  • All application requirements must be completed and submitted by the deadline of 5 p.m. on Friday, March 7 --- DEADLINE EXTENDED TO 5 P.M., WEDNESDAY, MARCH 12.
  • The application fee is $50 and is non-refundable.
Check out our FAQ's to learn more about the program and how to apply.

If you have any questions, please feel free to contact Sheu-Jane Gallagher at sheu-jane@techtowndetroit.org or (313) 483-0999.