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Velocity is designed to provide entrepreneurs of disruptive startups with the resources necessary to get the company to rapid growth. The Velocity program helps the CEO/President down the path to market through a customized approach that fills the gaps and needs of the startup in six main activities of a business venture:
- business development (and by extension, marketing),
- product/service development,
- product/service distribution,
- finance and financial strategies,
- organization (Infrastructure/team), and
- corporate structures.
VelocityTX will take an equity or royalty position in the company thereby having a vested interest in moving the company forward to success.
The business or business idea must have a high barrier to entry for competitors.
The business or business idea must have high growth potential.
Founder must have validation through either sales, grants, investments, or an approved program like Velocity360or G.A.P.
Founder and VelocityTX must mutually agree that there is an alignment between the company’s needs and VelocityTX capabilities.
Founder must agree to attend weekly meetings.
Founder must sign the client engagement agreement which includes a mutual non-disclosure agreement.
Incentives for Program Completion
Velocity companies may qualify for funding from the TRTF/VelocityTX McDermott Fund.
- Velocity is custom tailored to the needs of the company so each program is unique.
- Velocity is a non-cohort, milestone driven program.
- Participants in Velocity will have weekly sessions with VelocityTX coaches.
- Participants will be required to meet with local subject matter experts and mentors.
- Participants will be required to reach out to potential clients, stakeholders, etc.
- Skills training to engage potential stakeholders (team members, investors, etc.)
Additional Program Benefits
- Use of VelocityTX facilities (conference rooms, open work space, etc.) as available.
- Ability to participate in Velocity360 to develop new markets, ideas, etc.
- Office Hours with professional services partners (attorneys, CPAs, etc.)
- Access to subject matter experts and business mentors.
Program Success Metrics
- Success in the Velocity program is almost always guaranteed. A product or service idea that is abandoned is a savings for the founder or entrepreneur. Therefore, the metrics used to measure success are:
- Client launches a company around the idea or,
- Client decides to pursue a licensing path or,
- Client abandons or shelves the idea before or after the completion of the program which saves significant time and money or,
- Client pivots the idea, makes changes and restarts the process.
Ready to start building on your idea? Let's plant the seed and transform your concept into a thriving business.Apply