Technology startups in north Alabama have a new resource to speed their growth trajectory, thanks to a partnership announced between national startup accelerator gener8tor and the MidCity Accelerator Foundation Inc.
Starting in mid-2021, four annual programs for entrepreneurs will be offered through this collaboration. The programs include three annual gBETA “pre-accelerator” programs and an annual “gener8tor Accelerator Studio” program.
Through this not-for-profit venture, the MidCity Accelerator Foundation and gener8tor aim to provide a focused experience with durable venture and partnering relationships available to applicants across north Alabama.
“This new partnership between MidCity Accelerator Foundation and gener8tor will provide entrepreneurs the proven, successful gener8tor accelerator and its toolbox to build a successful growing concern around their product,” said Remy Gross III, co-founder of RCP Companies, which created the MidCity Accelerator Foundation. “Gener8tor will foster and empower entrepreneurs by providing its groundbreaking ‘boot camp’ that catapults startups to the next level.”
The gBETA program is a free accelerator that is designed to help startups gain early customer traction on their product or idea and establish metrics that can make them competitive applicants for full-time, equity-based accelerators or seed investment.
Participants will receive intensive and individualized coaching and access to gener8tor’s national network of mentors, customers, corporate partners and investors. gBETA will operate in both Huntsville and Florence-Muscle Shoals.
In addition, the Accelerator Studio will solicit applications and select five teams to each build a technology startup from scratch. Selected participants receive $100,000 in investment capital per team and work closely with gener8tor staff to build, design and launch new products or services.
“The collaboration between gener8tor and Huntsville’s MidCity Accelerator Foundation will enhance the vitality of north Alabama’s innovation ecosystem by providing the guidance and mentorship that entrepreneurs need at a critical time,” said Greg Canfield, secretary of the Alabama Department of Commerce. “These accelerator programs will help startups reach the next level of their development.”
Canfield is an advisory council member of the Alabama Innovation Commission, whose objective is to develop and execute strategies that will drive innovation and entrepreneurship, and support talent attraction and retention in the state.
Gener8tor has hired two full-time employees to operate these programs, and applications are being accepted for a full-time program manager. In addition, startups and individuals interested in participating in gBETA and the gener8tor Huntsville Accelerator Studio can apply now.
More information on all of these applications and more ways to get involved are available at gener8tor/Huntsville.
The first program to kick off will be the gBETA Huntsville program this summer.
In Birmingham, gener8tor is collaborating with the Bronze Valley Accelerator to offer assistance to startups, with a particular focus on enterprises launched by female entrepreneurs and entrepreneurs of color. The first cohort of startups selected for the collaboration’s gBETA program was announced in 2020.
This story originally appeared on the Alabama Department of Commerce’s Made in Alabama website.