Less than two months removed from its first demo day on August 23, Kansas City accelerator SparkLabKC is ready to bring on 10 more early-stage companies.
Managing director Kevin Fryer said the first class’ success was “way beyond what we thought.” He noted that VolunteerMark has joined Archer Foundations’s immersion program, one company is in deep term sheet discussions with a venture capital firm, four more are in various stages of investment discussions and several others have shaped plans without funding in the short term.
“We talked to eight successful accelerators around the country and brought back best practices to fit into Kansas City,” Fryer (right) told Silicon Prairie News. “I’d like to say we’re geniuses, but we aren’t.”
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The program will remain the same from year one. Companies will receive seed capital up to $18,000, free workspace, legal and financial advisory services, and participate in a formal demo day. But the real key, Fryer says, is access to more than 100 mentors. The program tries to find companies that match industries with a strong base in Kansas City so that the knowledge base is strong.
“Mentors are what really propel these companies along,” he said.
Briefcase made a major pivot based on counsel from mentors, Fryer says, changing the focus of its job hunt tool from all ages to career development centers at universities. Only about 30 percent of college students currently hear about jobs through their schools; Briefcase believes it can raise that to more than 80 percent.
Applications will be accepted through December 1. The program kicks off Jan. 13, 2014, and runs through demo day on April 11, 2014.
Credits: Fryer photo courtesy SparkLabKC.
