Telluride Foundation: Telluride Venture Accelerator Opens 2016 Class

07 Sep Telluride Foundation: Telluride Venture Accelerator Opens 2016 Class

The Telluride Venture Accelerator (TVA) announces the opening of their applications for the 2016 cohort. Applications will be open through Oct. 15 at 7 p.m. MST.

Thea Chase, director, Telluride Venture Accelerator

The Telluride Venture Accelerator (TVA) is currently receiving applications for its fourth class of entrepreneurs/companies. Each finalist team will receive a $30,000 investment in exchange for a 5% equity stake. Additionally over 100k in perks is available to teams through our relationships with the Global Accelerator Network (GAN), f6s.com and affiliate partners. Applications for our 4^th class open on companies per session which runs from February through June.

The Telluride Venture Accelerator (TVA), a program of the Telluride Foundation (a 501(c)(3) community foundation), invests human and financial capital in innovative enterprises with the aim of building and strengthening the entrepreneurial community in the Telluride region to create a self-sustaining entrepreneurial ecosystem bringing innovation, jobs, ideas and a renewed dynamism.

TVA combines an unparalleled setting with world-class mentors and an outstanding investor community to provide a 5 month residential business accelerator program. During the program companies benefit from over 1,000 hours of mentor time; are guided through building and testing their business model; develop their operational plan and prepare for fundraising. Throughout the program, special attention is given to developing founders as entrepreneurial leaders. After 5 months companies will have validated their business model and will present to Telluride’s unique investment community, including Demo Day in Telluride and roadshows in Boulder/Denver and San Francisco.

TVA focuses on entrepreneurs with innovative high growth businesses in the outdoor recreation; travel and tourism; health and wellness and natural resource management sectors. Within this focus, TVA prioritizes technological products and services (e.g. software, mobile, mobile apps, hardware) and businesses that have a higher potential to operate virtually from Telluride and/or impact the regions’ entrepreneurial ecosystem.

The TVA’s greatest strength is its extraordinary and growing community of 85+ mentors who are successful world-class entrepreneurs and business leaders – from full-and part-time residents to frequent visitors.  Each brings an enormous network and invaluable perspective on starting and growing a business, plus an extensive professional network.  Above all, they are committed to the TVA companies and the community, giving generously of their time and leveraging their experience for the success of young entrepreneurial companies. TVA’s mentor interaction is different from other programs, as mentors are spending time in a relaxed setting instead of providing assistance after their work day when rushing home.  All of our mentors and entrepreneurs mention that this as a unique strength of the experience at TVA.

Key Results

·         As of 2015, TVA graduated 15 companies and supports 3 local high-growth “Partner” companies

·         We have a great track record of prioritizing female-led businesses; 1/3 of the 1^st 3 TVA cohorts are women-owned companies.

·         $9 million raised by TVA companies in 3 years.

·         TVA’s 2013 and 2014 cohort of companies far exceeded the Global Accelerator Network’s (GAN) benchmark (30% of companies raising over $300k within the first year), with 60% raising in excess of $300k.

·         TVA companies received $552,000, on average, in investment capital within 1 year of graduation.

·         2 TVA companies from 2014 and 2 from 2015 were fully funded within weeks of Demo Days.

·         As a result of TVA, 6 new high-growth companies are now based in Telluride.

“We are excited for 2016. The feedback from our graduate companies and their success tells the full story.  What makes Telluride/TVA such a compelling destination comes down to mentors and funding.  TVA has been incredibly successful in both areas. We look forward to continuing development of our program and network and selecting some exciting new projects to develop in Telluride next year.” Jesse Johnson, TVA co-founder and CEO.

For more information on TVA or to apply, please visit our website, www.tellurideva.com or contact Thea Chase, Director (thea@tellurideva.com) or Ashley Nager, Program Manager (ashley@tellurideva.com).