Summer often evokes sun-soaked lethargy and sweat-stuck laziness, but for AlphaLab, summer is a transformation from on the right path to winning the race. In short, AlphaLab’s four month accelerator program is a chance for an entrepreneur to level up their early-stage software company. Whether or not Eye of the Tiger plays over the four-month montage later is optional, but recommended.
What is AlphaLab?
Founded in 2008, AlphaLab is a startup accelerator based in Pittsburgh, PA. They are chartered with Global Accelerator Network (GAN) as one of the first ten programs of its kind worldwide. They’ve worked with and invested in 120 companies including NoWait (acquired by Yelp), Black Locus (acquired by Home Depot), and Shoefitr (acquired by Amazon).
Who Can Apply?
Whether for startups with prior experience building a new company or for those worrying they’re not quite ready, the program values and aids each stage of growth. Even for those not accepted, the application process developed the idea(s) behind their business and provided feedback for the next session. Many AlphaLab companies applied a second time before acceptance.
How does the program help?
For those accepted, the program aids with the funding and knowledge required for a solid foundation to a rising startup. For funding, AlphaLab’s typical investment is $25k to $50k for 2.5% to 4% of common equity and qualified members can raise additional capital through the Innovation Works seed fund. Over the four-month program, educational sessions and direct guidance cover topics from customer validation to negotiating manufacturing.
Additionally, AlphaLab provides legal services through Cohen & Grigsby’s, accounting and tax services through Sisterson & Co., assistance finding interns through local universities, and discounts on product and services through our Global Accelerator Network membership.
Our Lead Designer and Startup Mentor, Joi Rogers is one of the mentors guiding the new cohort. There she’s training the next wave of startups, how to manage their owndigital marketing, web design, business development, and corporate identity building.