San Francisco, get ready to welcome Acceleprise to your great city. It was reported by Pando Daily today that the popular Washington DC based accelerator will be hedging a bet on a new market in the hopes that it keeps them in the top portion of the accelerator industry.
The base layer of Acceleprise will remain as it is: participants will receive $30,000, 4 months of office space, and programming and mentorship for a 5 percent stake equity in their venture. What is changing is Acceleprise’s mindset.
The Pando Daily article points out that most accelerators haven’t been successful because it’s difficult to apply uniform standards for startups across multiple levels and markets. Acceleprise is chasing verticals this time, focusing on the new generation of SaaS startups.
With Director Michael Cardamone, the San Francisco branch of Acceleprise will be lead by Karen Appleton, Nick Mehta, and Rowan Trollope. The actual size of the fund has yet to be released, but Cardamone assures us it will be used for follow-on investments.