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Program Overview

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.

Admission Criteria

1

The business or business idea must have a high barrier to entry for competitors.

2

The business or business idea must have high growth potential.

3

Founder must have validation through either sales, grants, investments, or an approved program like Velocity360or G.A.P.

4

Founder and VelocityTX must mutually agree that there is an alignment between the company’s needs and VelocityTX capabilities.

5

Founder must agree to attend weekly meetings.

6

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.

Program Delivery

  • 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.
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