How long does the Dynamo Accelerator program run?
The Dynamo Accelerator runs from May 1, 2017 to July 20, 2017 for a total of twelve weeks. Applications close on February 19, 2017 at 12 midnight PST.
Do I need to be a US incorporated company?
It's highly preferred as US investors will required that a company be incorporated in the US prior to investing. That being said, we are willing to be flexible and will consider foreign corporate equivalents such as a UK, Ltd.
How much does the Dynamo Accelerator invest in my company?
The Dynamo Accelerator is focused on delivering the best advice, structure, and network for participating companies. That being said, our accelerator provides $30,000 for 6% in an effort to cover the basic costs of building your business with us in Chattanooga. In select cases, we are willing to negotiate terms of the investment that best align a company and the Dynamo Accelerator.
What is the relationship between the Dynamo Fund and Dynamo Accelerator?
The Dynamo Fund and Dynamo Accelerator are sibling entities but are capitalized and operated separately with some crossover or personnel. To prevent conflicts of interest, Dynamo Fund does not lead any deals coming through our Accelerator. The Dynamo Fund will follow-on deals where it believes there is substantial upside to earn LPs a return.
Should I reach out to mentors as part of the application process?
No, it will likely hurt your company’s chances because mentors are not involved-- it will only create more friction. Given that we see speak with hundreds of companies, we uphold an application process for a reason. Our mentors are ultimately available to founders who we select to join our program.
Am I too far ahead for the Accelerator? Should I just reach out to the Fund?
Founders almost always think they are beyond the acceleration phase. We had startups who have raised $0 to over $1M join our program. We take a limited amount of companies each session and are able to provide personal advice relevant to each company. We spend a lot of time ensuring that we can help a founding team and if we do not believe the Accelerator or Fund can do that, we quickly respond to avoid wasting anyone’s time.
If you are unsure or on the fence, the best thing to do is complete an application so we can engage to help think through whether the Accelerator is a constructive use of time. If we believe the Fund is the better vehicle through which to engage, we will reach out and correspond appropriately.
Do I have to be in Chattanooga, TN for the duration of the program?
Yes, there are numerous benefits to being here including: surprise visits from executives and potential customers, one-on-one help from our team to tackle various problems, investor introductions, mentor drop-ins, et al. We also cannot understate the shared learning opportunities, cohort camaraderie, and community events that add to the experience.
During the application process, we have a discussion with each company around expectations and the rigor of the commitment.
Is company relocation to Chattanooga, TN required, post-program?
NO! We want you to build your company wherever you best serve your customers and employees. We are happy to assist you in relocation: office space, hiring introductions, housing recommendations, should you decide to relocate to the Scenic City.
What is Demo Day like?
In 2016, we had a public demo day followed by an evening VIP event with investors and industry executives. We will continue to iterate on our approach with a focus on upholding founders and the benefit they gain from such a culminating event.
Why even have a Demo Day-type event?
Having a culminating event is a great forcing function and those are hard to come by in building a business. Hence, it's important to utilize the value of culminating an intense 12-week program to drive work streams around: business development, partnerships, talent recruiting, raising investment, and more.