Twenty-four tech startups have been chosen to join the Washington Technology Industry Association’s new Founder Cohort program, which officially launches next month.
The program, designed to help local startups grow and scale, is completely free to participating companies.
“We invest in (founders) when they can’t afford to pay us anything,” Dave Parker, a member of the Founder Cohort program’s board, told 425 Business last month. “We know in five years it’s going to pay off in a huge way. It’s not a quick hit. But honestly that’s one of the things that Seattle needs.”
All 24 companies — picked based on a rigorous application process — are headquartered in Washington, have at least one product in development, and earn less than $1 million in annual revenue.
The selected startups are: Lightning Network LLC; PartnerTap; Stabilitas; Pozotron, Inc.; RevelHMI; ArcBlock, Inc.; Automation; Cirkled In; DemandStar; Neu, Inc.; VeriLedger Systems, Inc.; dTOOR Inc. SPC; Fiero; Leasera; Magic AI Corp; Metricstory; Photonic Sentry; FanWide; Magalix; Mindspan Inc.; Prolaera; Cascade Game Foundry SPC; Simply Augmented; and Parlay Sports.
“Launching a tech business requires investment of capital and expertise far beyond the means of any one founder,” said Michael Schutzler, CEO of WTIA. “We are using our network to deliver the more elusive or expensive resources such as leadership mentoring, accounting, HR, and fundraising expertise. Best of all, this cohort will become their own team of resources and partnerships that last for many years to come.”
The Founder Cohort program starts off with a group dinner on Oct. 18. On Oct. 19, the founders will attend a boot camp to learn about startup development, fundraising, and other tips. After that, each company will begin following a year-long, tailored roadmap created by the program’s panel of experienced founders and entrepreneurs, including Dave Parker of Seven Peaks Ventures, Lisa Nelson of M12, and Nich Hughes of Founders Live.
Find out more about the Founder Cohort program at www.washingtontechnology.org.