This summer, selected teams will participate in a 12-week intensive program designed to give students the opportunity to propose and refine their business plans and products.
The Ohio University Innovation Engine Accelerator program, in its second year, is looking for new applicants who are ready to pitch and perfect their business models.
“Start thinking about ideas for your startup business and the kinds of teams you would need,” said Lynn Gellermann, executive director at OU’s Center for Entrepreneurship, a supporter of the program.
In the past year, the program was able to help six business start-ups get their feet wet in the world of entrepreneurship.
Affine Technologies is a 3D visualization company that specializes in aviation and avionics. Chad Mourning, one of the founders of Affine Technologies, said that his team’s startup received help from TechGROWTH Ohio, a supporter and organizer of the program, and $20,000 in funding through the Innovation Engine Accelerator.
The Innovation Engine Accelerator is funded and supported with staff and resources from multiple entities inside and outside of the university, according to Bethany George, executive-in-residence at OU's Innovation Center.
Other companies included Initio Creative LLC, Lightborne Lore, Brandbeau, and Parabox LLC.
Andrea Gibson, director of Research Communications, said once startups are accepted into the program, the teams will receive up to $20,000 in funding. Additionally 50 successful startup entrepreneurs have agreed to help mentor teams.
Gellerman said the curriculum for the program is based off Stanford University’s professor Steve Blank’s “Startup Owner’s Manual.”
The program will also provide teams with equipment, software and a 1,000 square-foot space with pods, which will include whiteboards and flat-screen monitors for prototype demonstrations. Legal advice will be provided to all teams through Bricker & Eckler LLP, the program’s Attorney-in-Residence partner.
“This program offers a great opportunity for real world, hands-on learning. Teams will be able to meet and network with other entrepreneurs and successful business people as well as the chance to apply critical and creative thinking,” Gellerman said.
By the end of the summer, each company will have a market-tested Minimum Viable Product (MVP) and an investor-ready pitch developed to attract further funding. The five companies selected to participate will showcase their products.
Interested students can visit innovationengineaccelerator.com to apply. March 28 is the deadline to apply, and the program will run from May 28 to Aug. 16.
dm750011@ohiou.edu
