5 Accelerators DC Tech Should Know
Know the difference between an accelerator and an incubator? For one, there are far fewer accelerators than incubators in the DC region. (Tell us why.) The other is that accelerators provide funding, mentoring, office space, and a program that companies graduate from in exchange for an equity stake in the company. Here are the few that exist in the DC region:
GP Tech Labs (coming soon)
Location: 1700 K St NW (8th floor)
Focus: Early-stage DC tech, SaaS and e-commerce companies.
Funding: Warrant to invest in future rounds of company.
Program: Accepting applications for inaugural class, participants get access to investors, sponsors, fellow entrepreneurs, staff, rent-free office space for up to a full year.
Duration: 9-12 months
MACH37
Location: Center for Innovative Technology, Herndon, VA
Focus: Cybersecurity
Funding: Participants also receive $50k to develop and launch their ideas and accelerator takes 8% equity stake.
Program: Companies are chosen for program and have access to space at CIT, mentors and professional services. The companies also need to establish a significant Virginia presence at the end of the program. (Spring class of five new companies recently announced.)
Duration: 90 days
Springboard Accelerator
Location: DC
Focus: Life sciences and digital media/technology
Funding and fees: $150 application fee and $2k program fee, and optional but encouraged contribution of 1% to 2% in warrants.
Program: Participants must have a woman in a senior management position with significant equity stake in the company. Companies go through an intensive bootcamp focused on content and delivery of company presentation, and then are assigned a personal advisory team that provides input on business strategy and opens doors to relevant connections and opportunities. Companies also get opportunity to present to investors and corporate partners.
Duration: Four months
Acceleprise
Location: DC (Dupont Circle) and San Fran
Focus: Enterprise tech startups
Funding: Acceleprise invests $30k in exchange for 5% equity.
Program: Companies are connected to mentors, get access to customer panels, and go through a structured curriculum that includes workshops, guest speakers, happy hours and mentor office hours. Participants also share office space at Acceleprise’s Dupont Circle HQ.
Duration: Four months
Prince William Science Accelerator
Location: Innovation Technology Park, Manassas, VA
Focus: Life sciences
Funding: None
Program: Companies can license wet lab space built out to suit specific needs.
Programs: Accelerator residents get space (total accelerator space is 9k SF) on first-come, first-served basis and pay rent of $20/SF for lab and common space. Companies get a free one-year membership in VA Bio, access to grants, and linkages to GMU. The program is also working on getting shared equipment and setting up an internship program with GMU.
Duration: 1-3 years
Do we miss any? Let us know.
