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You Have Questions. We Have Answers_

Welcome to our FAQ.

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FAQ

faq

What’s different about Boomtown Accelerators?

We believe that existing accelerator models are outdated and are not optimized for the entrepreneur (but rather for the investor). At Boomtown, we orbit around the entrepreneur. Period. Everything that we do is to maximize their success. You will experience new approaches to programming, mentorship, curriculum and just about everything else.

A hallmark of our program is supporting each startup in a way that’s custom-tailored for individual founders. And, we continually tweak and improve our program from session to session with this in mind. This is unlike many other accelerators and it has enhanced the value we provide to Boomtown cohorts.

It’s critical for entrepreneurs who are at different stages of development and are not well-served by a “cookie-cutter” approach. We aim to create great entrepreneurs, because great entrepreneurs create great companies, and great companies are investable companies.

How many founders should we have?

We suggest that there be at least two founders who can be present for the duration of the program. We prefer a CEO and CTO in attendance in order to diversify the skill set of your business represented. Collaboration with a partner is key because of the challenging nature of the program. We understand that early stage companies may not yet have two founders in place. If this is your case and you feel that you’re a strong candidate, please explain your situation in your application and/or contact us directly to discuss. We can also work with larger teams and welcome a wealth of ideas and energy.

How much money will we receive? In what form?

Selected companies in Boomtown Accelerators will receive between $35-50K in exchange for a minimum of 6% equity (dependent on the accelerator) after signing our stock purchase agreement.

How long is the program?

The program is 12 weeks long. All locations are open and accessible to teams 24/7. Programming occurs throughout the week, Monday–Friday.

What is the accelerator space like?

Each accelerator includes these amenities:

  • Reconfigurable desks and workspaces, yours for the duration of the program
  • Private conference rooms with A/V and power
  • Sound-insulated phone booth for private conversations
  • TV lounge with cable tv for screenings and private meetings
  • WiFi and high speed internet
  • Team lounge area
  • Usability testing room with A/V and one-way viewing window
  • Electronics/fabrication/prototyping laboratory with tools, 3d printers, electronic workstations, lab benches, ventilation, sponsored by Comcast Labs
  • Communal kitchen table
  • Coffee and Espresso station featuring roasts from The Unseen Bean
  • Community snack refrigerator, sponsored by Whole Foods Market
  • Personal food refrigerator
  • Bicycle parking
  • Shower/changing rooms
  • Guest waiting area
  • Reconfigurable presentation spaces
How does the equity for investment work? Will it affect our valuation?

The cash investment for equity is solely common stock (rather than preferred). Your company valuation is not affected since this is not considered a financing round.

Our company isn’t officially formed yet, or we are considering restructuring. Do you have resources to help with that?

Boomtown Accelerators have an in-house counsel to help you and great lawyers to support you. We can handle most corporate and cap table challenges.

What kind of perks do we get if we’re accepted to one of the Boomtown Accelerators? If we need hosting, computing, advertising, or other business services, can you help us make that solid and affordable?

Perks are currently valued above $1.7 million in value. They include hundreds of thousands in hosting from Google, Amazon, SoftLayer, etc. Also included are discounts on most software products that any startup needs (MailChimp, SendGrid, outsourcing, marketing, design, etc). Additionally, we are constantly negotiating new perks, and work closely with our companies to develop perk benefits to suit their immediate needs.

Do we have to be onsite or can we be remote?

We strongly suggest at least two core team members to be physically present at the Accelerator location for the duration of the 12 week program. We understand that founders of early stage companies often have other obligations that may preclude them from being physically present the entire time. If that’s the case and you feel that you’re a strong candidate, explain your situation in your application and/or contact us directly to discuss.  We can not organize housing for you, but we can point you to resources to help with your search.

Do we have to be a U.S. company in order for you to invest with us?

Yes. We prefer Delaware corporations, and our in-house legal counsel will work with you to get it setup.

Do we have to be U.S. citizens?

No, as long as you can legally be on location during the three month program. We’ve funded many startups founded by non-citizens.

Can you get us visas?

No. Please make sure you understand the requirements and timelines associated with getting visas for the full duration of the program. You will not be eligible for the program if you can not arrive by Day 1.

Can I work while my team is in the program?

Part of the reason we offer the initial investment is so you and your team can be completely focused on building your company. Our main goal is for our companies to succeed, and we believe that the resources, community and mentors are a big driver to helping them do so. Therefore, we do not accept teams that are unable to focus on their startup full time. Although, we may consider some extreme exceptions–on a case by case basis–if the current job is valuable in helping the company to succeed.

Does Boomtown require payment as part of the application process?

Boomtown will never ask for money from you as part of the application process. (If you are asked for money, report it to us here immediately.)

Didn’t answer your question? Contact us directly at apply@boomtownaccelerators.com.