The Brandery's four-month accelerator program for tech startups is raising the bar by providing its newest class members with an additional $30,000 in initial investment.
Since 2010, The Brandery, which is partially funded by the
Ohio Third Frontier, has provided each of their 10-12 class members with a $20,000 grant in exchange for a 6 percent stake in their company. Their success stories include companies like
Roadtrippers,
ChoreMonster and
Frameri — ones that have already established a national presence since their time at the accelerator. Their continued progress aside, The Brandery is always looking for new ways to attract national noisemakers in the startup scene.
"Every year we assess the needs of our startups, the depth of our cohort, the funding environment and how we can continue to compete globally for the best startups," Brandery General Manager Mike Bott says. "This year in particular we felt very strongly that increasing our investment in each startup will allow us to continue to attract the best founders globally and, more importantly, give our startups the best opportunity to succeed."
With its sixth startup class on the horizon, the accelerator believes that an increase in initial investment will make sure that the companies are financially sustainable beyond the four-month mark.
"Increasing funding from $20k to $50k will afford our startups a runway through the holidays into the spring, giving them an opportunity for more validating data and stronger positioning with potential investors," Bott says.
The Brandery is able to provide a higher grant due to an increase in funding from the Ohio Third Frontier. The state's support of technology-based companies has played a tremendous part in turning cities like Cincinnati into startup hubs.
Private partners, both locally and nationally based, also continue their support of The Brandery and its companies.
The accelerator is now accepting applications for its sixth class of startups, which will enter The Brandery this spring.
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