LaunchHouse is seeking early stage, broad-based technology startups focused on technology, Internet, mobile, hardware and robotics to apply for the LaunchHouse Accelerator (LHX) program. Applications for the LHX 2013 program opened March 8!
With the $200,000 ONEFund grant, LHX will invest in the next batch of ten awesome, up-and-coming tech companies consisting of 2 or more co-founders, to participate in the LHX program. Startups will call Cleveland their home for the duration of the 12-week, boot camp-styled accelerator program. LaunchHouse has a clean formula for success: Capital + Mentoring + Basics of Business + Networking.
LaunchHouse’s adaptations of the customer development model popularized by Steve Blank, and the business model canvas framework of Alexander Osterwalder have proven to quickly help startups to reach validation. “Get out of the building”, talk with potential customers to validate elements of your business – the problem/need and the solution – while generating early adapters.
The LHX program boasts of a fusion of 60+ mentors, from 20+ industries, willing and ready to share their time and experience with budding startups is definitely a valuable asset to entrepreneurs.
Following the close of application, LaunchHouse will host their version of Startup Weekend, with the top thirty teams participating in a 2DAYdiscovery.
Teams will have a “taste” of the LHX methodology – “Get out of the building”, speak to potential customers, analyze the data and report back to the LHX mentors and LaunchHouse team. Ten teams will then be selected to participate in the LHX program. These teams will grow their business, achieve validation and ultimately be one step closer to market entry.
The 12-week intense program will culminate in – Showcase Day. Startups will have the ability to pitch and demo to investors, potential clients, other entrepreneurs and the general public. Showcase Day 2012 was attended by 200+ investors with live streaming to 30+ investors nationwide.
LaunchHouse is not the only Northeast Ohio accelerator to be awarded the ONEFund grant. Bizdom Cleveland, a non-profit business accelerator founded by serial entrepreneur Dan Gilbert, was also selected to run an awesome accelerator program “focused on software and web opportunities in healthcare, consumer finance, real estate, entertainment, sports, online marketing and gaming,” according to The Ohio Third Frontier.
Through these noteworthy programs, Cleveland-based accelerators will continue to attract entrepreneurs to the region, and retain talented startups, demonstrating that companies can grow and succeed in Northeast Ohio.
Since 2008, LaunchHouse has invested in forty diverse companies which have raised more than $5.5 million in follow on funding. The LHX startups, since the inaugural LHX 2012 program, have been able to create more than 20 jobs, a majority of which are in Northeast Ohio.
“We are excited to continue to build the entrepreneurial ecosystem in Northeast Ohio, through the LaunchHouse Accelerator, while building awareness that Cleveland is a place to start a business,” said Todd Goldstein, Chief Executive Officer and managing partner of LaunchHouse. “Cleveland has offered us an abundance of resources, mentors and partnerships, which will directly benefit each of the 10 startups in the development process, and ultimately assist them in securing follow on funding.”
Again, applications for the LHX 2013 program opened March 8, with the program beginning August 12.
Image: Steve Blank’s Customer Development in a diagram.