Flywheel is currently seeking applicants for its New Ventures 2019 program.
New Ventures is an application-based program that invests an average of $50,000 in inception-stage startups that are pre-revenue. The program’s focus is in-state NC startups, but investments have also been made throughout the Southeast and beyond. Investments are primarily made in software applications (Saas, B2B, and B2C) and device startups.
Flywheel will be selecting the finalist companies in late April, and the accelerator will run from June 1 through August 31, with Demo Day on September 6. Following the accelerator, the program includes a residency at a Flywheel location for three months. 5-8 companies are generally accepted into the program each year. Here are the results so far after 3 years:
- 14 companies
- The value of combined portfolio companies has grown from $0 to $26,602,000 based on priced rounds
- Companies have raised a total of $5,371,500.00
- Seven companies have raised more than $250,000 in follow-on financing (average round $500,000)
- Three companies raised more than $1,000,000 in seed rounds
- Many companies are now in a growth hiring mode
- Take a look at the portfolio companies
Here is a direct link to the accelerator application: APPLY HERE.