An accelerator runs between three and four months where incubators typically run for 12-18 months. The accelerator will help you test an initial idea and startup viability that includes structured workshops, deliverables and outcomes. The incubator is where you are ready to scale your company and the curriculum is less structured since it is very much based on the company’s needs.
There is no cost to join the accelerator, but the Catamaran Foundation does receive 3% equity in your company. That is because we believe that when one company wins, all companies win. You can read more about that HERE .
The accelerator is a 3 month program. Cohorts are currently running two times a year (September-December and February - May). Companies, on average, can expect to spend up to 50 hours per week working on their idea.
Yes, because being an entrepreneur is a hard job and the journey can be long and lonely. We believe that a co-founder or partner will help to share the burdens of starting a company. Finally, investors are much more likely to think about backing a company with co-founders as opposed to a single founder.
Ultimately, that is up to you. Catamaran provides you with the essential knowledge, minimally viable product,connections and momentum to launch your start-up. While we are here to provide support post-acceletor, it is ultimately your decision. When our incubator is up and running you are welcome to apply for further training and coaching to scale of your business.
An MVP is a minimally viable product. This means, after collecting the maximum data about the current market and customer base, you are able to create something that allows you to see what your customers think about your product. It is your initial product offering, sometimes very rudamentary, that is intended to get you customer traction and validated learning.
We do not sign NDAs. We are not out to steal your idea. It is in your best interest, as an entrepreneur, to speak at a high level about your business and ideas. You should focus on explaining the problem your solution will solve rather than the solution itself.
We believe that every company is a technology company regardless of the industry. We encourage you to reach out to us at [email protected] to discuss your specific venture to determine whether Catamaran is a good fit.
Your company has to be legally recognized as a business but you do not need to have customers, revenue or even a clear business model.
We use the human-centered design framework which is a method of Design Thinking. This ensures that entrepreneurs are creating something that people really want. Human-centered design is getting real about your market and observing what it is they need and whether you can provide that. This design perspective is focused on facts and needs not opinions and wants.
There is no money offered through the accelerator. However, invaluable expertise, mentoring and networking is given throughout the three month process.