The Innovators Program Inc. and its sponsors, Citrix and Red Hat, Inc., announced that they are accepting applications for the 2017 Innovators Program in Raleigh. The three-month accelerator program lays the foundation for talented and motivated startup founders and internal innovators to develop the skill set and mindset to build high-growth technology businesses.
Early applications are due by June 14th, final applications must be submitted by June 23rd, and the program kicks off on July 17th.
The cohort-driven, mentor-assisted program is open to three external startups, and three internal teams. All of the selected teams will gain best-practice expertise, coaching, and mentorship to help develop their startup ideas, build and market customer-centric products in high growth markets, and prepare to raise their first round of funding.
The Innovators Program Inc. is a partnership between HQ Raleigh, a workspace and community for high-impact startups, and Nick O’Connor, an Angel Investor based in Silicon Valley, and founder / head of program success at Venture Toolkit, a services company that designs and operates innovation programs for Fortune 500 companies. Nick was also the designer and operator of previous Innovators Programs run by the Citrix Startup Accelerator in Raleigh, Silicon Valley, Santa Barbara, and Bangalore, India. Since 2014, the program has included 22 internal innovation teams from both Red Hat and Citrix, as well as 37 startups, 10 of which have received $500,000 or more in seed funding.
This unique program allows companies like Citrix and Red Hat to engage their local startup ecosystem in ways that are both startup-friendly and impactful, with a program designed to provide a “high signal to noise” for the startups on their ability to get market traction. So far, this approach has produced four seed-funded local startups, one startup acquired by Citrix, a number of cash-flow-positive, bootstrapped startups, and a vibrant community of external and internal innovators.
The program also enables organizations to make the change from going “all in” on one idea to a more “sophisticated, angel investor-like” approach by rapidly innovating a few high-potential business ideas for three months, and deciding whether to invest based on market traction and opportunity.
Selected participants will learn and apply core principles used by successful technology startups to gain traction and develop their brand, business model, and growth strategy during the program. Each participating startup will receive one-on-one mentorship, weekly workshops, and a $10,000 grant. At the end of the program, the program will award additional grants of $10,000 per startup based on successful completion and commitment to the program. Internal teams will pitch internally to their organization for funding.
Early applications are due by June 14th, final applications must be submitted by June 23rd, and the program kicks off on July 17th. Learn more or apply at: innovatorsprogram.co.
Adolfo Rodriguez, Vice President, ShareFile Platform and Workflows, Citrix
“At Citrix, we are deeply committed to creating and cultivating an innovative environment for our employees. In many ways, this is not just an investment in our people as we help them to continue extending their skillset and experience, but also in our solutions and, ultimately, our customers. The Innovator’s Program provides a terrific opportunity for us to practice lean thinking and entrepreneurial mechanisms in creating incredible new technologies that align to our company’s mission. It allows us to explore ways to leverage fresh, new thinking to deliver capabilities that better address our customers’ needs.
Over the past three years, we have had 9 internal teams enter the program here in Raleigh and 20 teams globally. The majority of these projects are now either in the hands of customers or on schedule to be. The insights our teams gained through their participation was invaluable, enabling us to focus on evolving critical contributions to our customers’ success. In addition, our employees have leveraged the budding start-up community in downtown Raleigh, allowing us to better participate in the thriving culture.
As we enter the 2017 season, another three Citrix teams will enter the program. The impact will be tremendous.”
DeLisa Alexander, executive vice president and chief people officer, Red Hat
“At Red Hat, we’re passionate about doing our part to spur innovation and entrepreneurship — both internally and in the growing startup ecosystem in Raleigh. The projects our Red Hat teams worked on last year continue to bring value to our organization. We’re excited to collaborate with Citrix and HQ Raleigh to bring this program to life for the fourth year.”
Malcolm Benitz, Co- founder and CEO at Medicom and 2015 Innovators Program alumni
“The frameworks and the mentorship in the Raleigh Innovators Program really helped us learn what it takes to develop our idea into a high growth business. In 2016, we processed 500 million images for our customers and moved our growing team into a larger office space in downtown Raleigh and the growth has continued into 2017.”
Kameron Kales, co- founder, Glance.ai, and 2016 Innovators Program alumni
“The Raleigh innovators program helped our company focus on what matters for our customers. As two recent college graduates, we didn’t have a luxury of experience or connections to the recruiting industry. The program helped us iterate quickly, focus on what stuck and continue to bootstrap our venture. Lots of founders get distracted with raising capital, and the programs mentorship enabled us to stay cash conscious and iterate quickly. Today we have a profitable 100% founder owned company and we couldn’t have done it without the programs help.”
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