September 16, 2014
DreamIt Ventures aims to help accomplished entrepreneurs build great companies. While the Philly program is in full swing, the accelerator program in Austin is taking applications for the 2015 cycle. This is the third year of DreamIt Austin; in the past, Austin classes have included participants from Brazil, Spain, Sweden, South Korea, and Israel.
“The geography really doesn’t matter to us,” says Steven Welch, the founder of DreamIt Ventures and the managing director at DreamIt Austin. “What we are looking for is good teams and we bring them to Austin, and Austin is a place where entrepreneurs want to come.”
Not only is Austin a vibrant and growing city for startups, but teams will have access to young talent from the University of Texas at Austin. The accelerator, which runs from January 8 – April 17, 2015, will also be in full swing during SXSW 2015.
“This is a city that is entrepreneurial in nature,” says Welch. “On a per capita basis there is just so much more going on there than any place I have ever been. The community really comes together well to help our companies in the accelerator.”
Along with the resources of Austin, teams will receive $25,000 in seed funding, office hours with local angel investors and VCs, free legal services, up to $50K in Amazon Web Services credits, the opportunity to pitch to a full room of investors at Demo Day on April 8, 2015 and more.
Why Entrepreneurs Should Choose DreamIt
In addition to taking teams from across the globe and a list of world-class mentors who have exited successful companies, DreamIt Ventures has helped build large, scalable businesses that have produced results.
“DreamIt companies have raised more than 170 million dollars in aggregate and have market caps well over half a billion dollars,” says Welch of DreamIt’s 157 companies. “So from a track record standpoint there are very few accelerators that have the same track record as DreamIt.”
These companies have seen success because “DreamIt encourages and supports portfolio companies in looking beyond quickly building their products to eliminating risk from their business models, building important relationships and acquiring paying customers” according to their site.While thousands of companies will apply for DreamIt, the ones that are accepted will have to really stand out.
“A lot of people tend to focus on the idea, but we tend to pick teams so the key to just applying is to make sure it’s clear to us in the application that you are a rockstar team and you are an accomplished individual and can succeed in the venture,” says Welch.
Welch will be joined by Kerry Rupp, the CEO of DreamIt Ventures and a Managing Partner in Austin as well as Director of Programs Dana Rygwelski. Applications for the accelerator are due on November 7, 2014.
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