Frequently Asked Questions
What happens during the Accelerator?
In partnership with our local NBA Team, the Oklahoma City Thunder, twice a year we select up to ten startups and help them get in the best possible shape to launch and grow their companies. Startups go through an intensive 12-week program culminating with Demo Day, when founders present their company to a curated audience made up of investors, community stakeholders and business leaders.
How much do you invest?
Not every founder is looking to be venture backed. In fact, less than 1 percent of startups ever raise venture capital. Therefore, we don't invest capital. Instead we invest in resources to support companies. Because we don't invest capital, we don't take equity or board seats in the companies we support. This means founders don't have to dilute control of their companies just to go through our program. We've seen too many investors try to control companies they invest in, and despite best intentions, end up destroying them. Founders need capital and support but also independence. That's why we try to interfereas little as possible. We understand the need for independence. The most successful startups we've seen do things differently - that's why they are successful.
What type of startup is the Accelerator looking for?
We invest in people, not ideas. We are technology focused, industry agnostic and we are looking for resourceful and resilient founders solving meaningful problems in society. When evaluating applications we look for strong teams and self aware founders who know their strengths and weaknesses and are not afraid to ask for help. We don't do ego. We value commitment and determination, so we are after founders that can execute and are all in. Check out our Founders Code to find out more about our Founder community standards.
We've been working on our startup for a while, does it make sense for us to apply?
Yes! In fact we like working on proven concepts that just need that little extra help and resources to achieve scalability.
Do I have to write a business plan?
Nope! Not for us. We make decisions based on application form, demos and 60 second videos.
Will you sign an NDA?
No. And for the record, you will not find a seasoned investor that will sign an NDA at this early stage. We are not interested in stealing your idea. We get to see a lot of ideas through decks, demos and applications - few are indeed innovative or new, the true value is in building and executing. Check out this article by John Rampton, Why VCs Don't Sign NDAs and You Shouldn't Worry About It.
Do I have to come in every day during the 12 weeks of the program?
No. We provide you space in case you need it - but we understand the need for flexibility. We want you building, selling and scaling - not being tied to a desk. We do require that you make it to every workshop on Thursday evenings and to Demo Day, remote attendance is available. You are also required to report progress on a weekly basis.
If I go through the program, am I guaranteed to receive funding?
No. Our commitment is to help you get your company in the best possible shape to go after funding by building a team of experts around you and by introducing you to our network of in and out of state investors. We do not guarantee they will fund you. What we do guarantee is that we will work with you to identify sources of funding and evaluate the right one for you. We've worked with investors, angels, VC and private equity firms. Through our network we can help you navigate the process. A lot of times, founders are desperate for money and end up taking money from just about anyone - including VC's and investors that don't have their best interest in mind. Most investors say they are founder friendly - only a few truly are. We will help you strategize on how to identify and evaluate different sources of capital and engage with investors.
Why didn't my application make it through?
Believe us - we know how expensive it is to pass on opportunities. We try to our best to select the most promising ideas, startups, founders - but we can only host a few. Please don't take it personal and consider applying again to our next batch.
What are the Investor Accreditation Standards?
This criteria was established to protect potential members by ensuring that they can comfortably tolerate the risk associated with early stage investing. To qualify as an accredited investor, a member must have at least one of the following:
Individual net worth, or joint net worth with your spouse exceeding $1,000,000 USD excluding the value of your primary home
Individual yearly income of at least $200,000 USD for at least three consecutive years
Joint yearly income with your spouse of at least $300,000 USD for at least three consecutive years
A legal person (such as a family office, corporation or trust) with assets exceeding $5,000,000 USD