Applications Now Open for Startup Accelerator Seed Sumo 2015 Program, Doubles Funding
February 13, 2015 (PRLEAP.COM) Business NewsFebruary 13, 2015 - COLLEGE STATION, TX – International startup accelerator program, Seed Sumo, has announced the opening of applications for their 2015 program with an increase of funding to $50,000 and an acceptance of 10 startups.
Seed Sumo is a three-month startup accelerator boot camp, beginning May 20th, 2015, that includes rigorous mentoring, business model design, and a twist on demo day for investors. At the start of the program, founders enter the seed stage in which they will spend 100 days developing their ideas, backed by highly credited mentors and advisers with a world-class devised startup methodology.
Seed Sumo believes accelerator programs are an extremely valuable ignition for entrepreneurs for three important reasons: Investment capital, strategic insight from credited mentors, and the structure of the founder's program.
Capital investment is important for startups because it can determine the business' success or failure, and also its capacity to reach its full potential. Secondly, receiving strategic and intellectual insight from mentors gives the founder guidance and reassurance on the direction of their idea, along with valuable tools to help the business in the long run. And thirdly, the structure of a startup's program is very essential to the business because it establishes guidelines and clarity for the team, specifying each team member's role(s) and tasks.
As a result of great successes last year with Seed Sumo's startups, they have increased funding from $30,000 to $50,000. By increasing overall program funds to $50k, this gives founders more of a runway for their company, helping them accomplish their goals in the first 100 days of program.
In addition to new funding, there is more staffing, which includes nine staff members, two "hackers" to help with all things internet/programming, dedicated mentors that are driven to help your company succeed, a twist on demo day, and over 4,000 expert advisers at your fingertips virtually. This will complement the perks offered to last year's participants, which includes a designated work space, an array of indoor/outdoor meet-up zones scattered throughout campus, state-of-the-art multimedia systems, R&D lab for scientific pursuits, a full-length football field, and a complimentary massage once a month in the "chill room" located on campus.
Seed Sumo is located in Bryan/College Station, Texas, only a few miles from Texas A&M University campus, and takes place in Nutrabolt's building, one of the world's fastest growing sports nutrition company in the world. Steve Tinkle, Program Manager of Seed Sumo, says "Rubbing elbows with the execs and board members of this company is an immeasurable advantage for each of our startups."
Last year, Seed Sumo's eight startups received over $4 million in funding so far, and one is in discussions on a possible exit.
Applications for the 2015 program will be accepted until March 22, 2015. To apply, please visit http://www.seedsumo.com/apply-now/.