Editing Navigate Accelerator
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'''The future of startup acceleration''' | '''The future of startup acceleration''' | ||
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== Problem == | == Problem == | ||
== Early-stage entrepreneurs can't get the support they need to be successful == | |||
Top accelerators and support programs | Top accelerators and support programs reject 90% of founders. Due to their model of small cohorts in group sessions, they inherently have a limited capacity. | ||
Unfortunately, this means many great founders and entrepreneurs get left out. The lack of support directly correlates to the statistic that 90% of startups fail. | Unfortunately, this means many great founders and entrepreneurs get left out. The lack of support directly correlates to the statistic that 90% of startups fail. We believe this failure rate is unacceptable. | ||
== Solution == | == Solution == | ||
== A scalable accelerator that bridges quality with accessibility == | |||
Our scalable platform provides 1-on-1 time with dedicated Advisors and digital tools. | Our scalable platform provides 1-on-1 time with dedicated Advisors and digital tools. There is no limit to the number of entrepreneurs we can help succeed. | ||
Instead of taking equity from the early-stage entrepreneurs, we offer bootstrap-friendly pricing that makes it easy for all founders to get the support they need. This model creates a sustainable program that does not rely on choosing "only the best" founders. | Instead of taking equity from the early-stage entrepreneurs, we offer bootstrap-friendly pricing that makes it easy for all founders to get the support they need. This model creates a sustainable program that does not rely on choosing "only the best" founders. | ||
Each Entrepreneur gets a custom program based on their stage and industry—as opposed to the standard one-size-fits-all programming that most programs offer. | Each Entrepreneur gets a custom program based on their stage and industry—as opposed to the standard one-size-fits-all programming that most programs offer. | ||
== Product == | == Product == | ||
== The platform & processes that turn advice into action == | |||
Over the past few years we've developed our Growth Action Plan Framework. This is a keystone of our platform and a big reason why our founders get so much more from our program. | Over the past few years we've developed our Growth Action Plan Framework. This is a keystone of our platform and a big reason why our founders get so much more from our program. | ||
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In addition the Growth Action Plan, each founder gets access to our Startup Toolkit—which includes on-demand content and templates to work through in between advisor meetings. | In addition the Growth Action Plan, each founder gets access to our Startup Toolkit—which includes on-demand content and templates to work through in between advisor meetings. | ||
== Traction == | == Traction == | ||
== Over 100 satisfied founders and strong recurring revenue == | |||
We've already worked with over 100 founders, and startups in our program have raised over $10M*. In addition, we've reached | We've already worked with over 100 founders, and startups in our program have raised over $10M*. In addition, we've reached $423k in annual recurring revenue and we have new entrepreneurs joining weekly*. | ||
We've built a proven acquisition funnel through scalable channels like Instagram and Google. Our customer acquisition cost is roughly $900 and generates a lifetime value of $5,134. | We've built a proven acquisition funnel through scalable channels like Instagram and Google. Our customer acquisition cost is roughly $900 and generates a lifetime value of $5,134. | ||
<nowiki>*</nowiki>As of March 15, 2022 | <nowiki>*</nowiki>As of March 15, 2022 | ||
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== Customers == | == Customers == | ||
== Helping a diverse group of entrepreneurs at the earliest stages of their journey == | |||
=== Our founders love us. === | |||
''"It's like having a personal trainer for your startup."'' | ''"It's like having a personal trainer for your startup."'' | ||
''"This accelerator was a game changer! Every week, my startup advisor explained the rules of the startup game like no one has before."'' | ''"This accelerator was a game changer! Every week, my startup advisor explained the rules of the startup game like no one has before."'' | ||
While other programs reject startups based on stage, revenue, number of founders, and other features they think will affect success, | While other programs reject startups based on stage, revenue, number of founders, and other features they think will affect success, we believe all founders should have access to support at any stage. | ||
Our accessibility has lead to a diverse group of entrepreneurs in the program. | Our accessibility has lead to a diverse group of entrepreneurs in the program. | ||
== Business model == | == Business model == | ||
== Subscription-based marketplace == | |||
We use a subscription-based membership model. Our average member pays $1,100 per month to be part of the program, but we have options that start as low as $150/mo. | We use a subscription-based membership model. Our average member pays $1,100 per month to be part of the program, but we have options that start as low as $150/mo. | ||
We can scale because we operate as a marketplace. Navigate connects vetted, trained and experienced advisors with passionate entrepreneurs. | We can scale because we operate as a marketplace. Navigate connects vetted, trained and experienced advisors with passionate entrepreneurs. This creates a gig economy for advisors looking to help early-stage entrepreneurs. | ||
== Market == | == Market == | ||
== 1.5M new entrepreneurs start every year == | |||
More people are choosing entrepreneurship than in previous years. The ongoing wave of entrepreneurship is reshaping the U.S. economy. | More people are choosing entrepreneurship than in previous years. The ongoing wave of entrepreneurship is reshaping the U.S. economy. | ||
Now is the time for a new leader in the early-stage startup space. One that doesn't reject 90% of these new entrepreneurs. | |||
Over 4 Million new businesses are created every year. In 2020, 1,520,000 of those businesses were created by new entrepreneurs. | Over 4 Million new businesses are created every year. In 2020, 1,520,000 of those businesses were created by new entrepreneurs. | ||
== Competition == | == Competition == | ||
== Existing programs are not accessible or affordable == | |||
=== Equity Accelerators === | |||
Equity accelerators are the most popular. They connect entrepreneurs with the advisors, frameworks, and capital they need, and they have strong success rates. The problem is that they accept less than 4% (less than 2% for the popular ones), which leaves the 96% of rejected entrepreneurs without the support they need. | Equity accelerators are the most popular. They connect entrepreneurs with the advisors, frameworks, and capital they need, and they have strong success rates. The problem is that they accept less than 4% (less than 2% for the popular ones), which leaves the 96% of rejected entrepreneurs without the support they need. | ||
In addition, the amount of equity they take (7%–10%) in the member startups is often seen as too high and not worth the results delivered by the program. | In addition, the amount of equity they take (7%–10%) in the member startups is often seen as too high and not worth the results delivered by the program. | ||
=== Paid Accelerators === | |||
Paid accelerators exist as well. They allow entrepreneurs to keep their equity, but often come with a price tag between $6,000–$20,000. This is simply not affordable for most early-stage founders. | Paid accelerators exist as well. They allow entrepreneurs to keep their equity, but often come with a price tag between $6,000–$20,000. This is simply not affordable for most early-stage founders. | ||
Furthermore, these programs end in 3–5 months—leaving the entrepreneurs back to fend for themselves. | Furthermore, these programs end in 3–5 months—leaving the entrepreneurs back to fend for themselves. | ||
=== Non-profit/Charity Accelerators === | |||
Non-profit and charity accelerators can be a great option for entrepreneurs to learn the basics and make connections in the early stages, but these usually end in 3–5 months and rely on volunteer mentors to deliver the support. This results in mixed-success outcomes for entrepreneurs who participate. | Non-profit and charity accelerators can be a great option for entrepreneurs to learn the basics and make connections in the early stages, but these usually end in 3–5 months and rely on volunteer mentors to deliver the support. This results in mixed-success outcomes for entrepreneurs who participate. | ||
== Vision and strategy == | == Vision and strategy == | ||
== Becoming the go-to option for all entrepreneurs building the next big thing == | |||
=== We are on a mission to make successful startups truly accessible === | === We are on a mission to make successful startups truly accessible === | ||
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== Founders == | == Founders == | ||
== An experienced team committed to helping entrepreneurs succeed == | |||
== Navigate Accelerator Team == | == Navigate Accelerator Team == | ||