About Challenge 2020

Average $50k Per Startup

Twelve weeks of focused growth

in a kick-ass full stack startup community.

Click to Register for Demo Days — 2020 New Ventures Cohort Pitches, Startup Demo Room and more

Learn

Experts guide you in:

  • Product Development
  • Sales and Marketing
  • Funding Strategies

Connect

Join our community of founders.

Meet Mentors, Industry Leaders Ecosystem Partners

Our rolodex is now yours.

Grow

Accelerate

Revenue

Next Rounds of Funding

Succesful Outcomes

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$50K Average Funding + >$50K Services

Start your journey. We’ve got your back.

Our curriculum is based on three books: The Lean Startup by Eric Reis, Traction by Gino Wickman, and Venture Deals by Brad Feld and Jason Mendelson. Startup resources are widely available and inexpensive, so why join an accelerator?

The difference is in our strategy and our community.

A Kick-Ass Full Stack Startup Community.

During the accelerator you will have residency at Flywheel Coworking, a key player in Winston-Salem’s entrepreneurial ecosystem. Our partners like Venture Cafe, Greater Winston-Salem, Inc., Launch Greensboro, Hustle WS, Center for Creative Economy, and others, are all resources for your company’s growth. And after the accelerator? You get immediate acceptance into Winston Starts’ Explore Program, extending your runway and providing continued mentorship.

Through New Venture’s investors, you will have access to the best mentors and investors in the region, with direct connections to investors in cities like Boulder, D.C., Silicon Valley, and NYC. Our group has deep experience in business and a passion for supporting founders.

Accelerator Structure

Over the years, we have applied lean methodology to our own structure to best serve the entrepreneurs we work with and reduce risk for our investors’ capital. We’ve landed on a good formula, yet we’re constantly iterating and are flexible to the needs of founders.

Mandatory Meetings: Each Tuesday night we will meet for a cohort dinner. Each of the twelve dinners will have a subject matter expert who will lead a presentation and conversation about a topic applicable to every business. Topics include things like Tech Development, Contracts, UX/UI, Business Modeling, and much more.

Mandatory Work Days: Your team will work with the Accelerator Director one on one each week during your assigned day. These work sessions are designed to get you closer to milestones, identify bottlenecks, develop and practice the pitch, and develop next steps. We will work with teams coming from out of town to schedule days appropriately.

Curated Mentorship: Throughout the accelerator, we schedule curated mentor meetings for each company. It’s your responsibility to lead the meeting, though we will teach you common protocol and expectations.

Milestones: During the first two weeks, you will work with the Accelerator Director to develop milestones that you must meet during the course of the accelerator. Some of these will be common to each company (e.g. financial projections, data room, pitch deck & presentation) and many will be specific to your company (e.g. product roadmap, MVP launch, rebranding). Investors will review milestone achievement after 7 weeks and, based on your dedication and productivity, award the 2nd tranche of investment. Final milestones are due by Demo Day, and investors will review those and award the third and final tranche thereafter.

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Testimonials from our founders:


New Ventures connected me with capital and mentors that helped me refine my business model and market strategy. In three months, Hay Trabajo more than tripled its user base from 144 subscribers to 494 and experienced 116% increase on businesses using the platform.

Elizabeth Hurtado Escobar
Founder, Hay Trabajo
New Ventures 2019

New Ventures gave us the courage to pursue Leading Role as a startup, their accelerator framework, the preparation for Demo Day, and the follow-on advisors have been invaluable.

Hannah Ashford
Cofounder Leading Role
New Ventures 2016

Their hard work and commitment to all of our success was remarkable. They provided many valuable insights, introduced us to their vast network, helped guide all of us through design thinking and identifying product market fit opportunities.

Edward Hall
CEO Petrics, Inc.
New Ventures 2018

New Ventures 2019

(Re)FÜL
Winston-Salem, NC
Cliff Duhon

Integrating biometrics, exercise plans, nutritional analysis and meal plans to fuel athletic performance.

Hay Trabajo
Charlotte, NC
Elizabeth Escobar Hurtado

Connecting certified Hispanic labor, Hispanic employers, and MWBE programs.

Gift’d
Winston-Salem, NC
Janet McKay Smith and Alison Gifford

A customized gift card service for local businesses – the Redbox for gift cards.

Live Well Nutrition
Philadelphia, PA
Marissa and Josh Gimble

Transparently bringing you the finest vegan protein blends.

About the New Ventures Challenge

Challenge is just the beginning.

New Ventures Accelerator startups are selected through the Challenge process. After the pipeline is open for 2 months, we

All investment decisions are made by majority vote and rely heavily on milestone achievement by the selected teams during and after the accelerator session. Investments are made in three tranches: (1) The winners of the NV Challenge receive funding as described below, (2) Upon successful completion of mid-accelerator milestones, and (3) Upon successful completion of all milestones and Demo Day.

Selected from the pool of applicants, up to eight teams will be deemed winners and be accepted into the Flywheel New Ventures Accelerator and awarded the following cash prizes as the first tranche of an average $50,000 investment per team:

$35,000 first prize

$15,000 second prize

$10,000 third prize

$5,000 for up to five runner-ups

Additional investments will be based on milestone achievement as teams progress through the accelerator.

Deadline for Applications

March 31, 2020, 11:59 PM EDT

1. Apply

Submit an application.

Get the immediate attention of experienced startup experts.

Define your startup with focus and clarity.

2. Present

Finalists pitch to the investor club in Winston-Salem, NC.

Winners get cash and enter the accelerator.

Prep for Jun 9th start.

3. Accelerate

12 weeks of focused development.

Weekly all-hands mandatory dinners.

One day/week with Accelerator Director.

Curated one-on-one meetings with mentors.

 

Challenge Applications and Term Sheet at F6S.com

>> Start Your Application Now at F6S

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