Deadline to Submit Applications is December 21; Cohort Begins on January 28
Sacramento, December 6, 2018 – The Capital Region AR VR Accelerator announced today it’s final “Call for Companies” for the upcoming cohort, slated to occur from January 28 to April 13, 2019. Start-up and early-stage companies interested in being considered for cohort participation and investment should fill out the online application on the Accelerator web site and/or send an executive summary and investment pitch deck to firstname.lastname@example.org.
The Accelerator is not suited for “idea” stage companies, but rather those who have a working prototype (or better yet existing product) and prefers companies that have already attracted some seed investors and/or have paying customers.
Selected companies are only expected to be “on site” during the first and last week of the 11-week Accelerator program. The rest of the cycle can occur virtually in conjunction with mentor/advisor teams established for each company to achieve results linked with a custom-tailored, mutually determined Milestone Plan.
A primary and unique focus of the Capital Region AR VR Accelerator is the development of a Milestone Plan in conjunction with each cohort company that drives effort and resources to address 1 to 3 need or opportunity areas where the Capital Region AR VR Accelerator can most effectively add value. Given backgrounds of the Accelerator leadership team, its collaborators, and its extended network, the most typical areas will be:
- Attraction of new customers and strategic partners
- Team, advisor and board development
- Fundraising (equity, debt, grant)
- Technology enhancement (video, software and app development)
- Social marketing and media
- Strengthening competitive positioning
Mentors and Advisors
Mentor/Advisor teams will consist of from 2 to 5 individuals and may include both formal and informal advisors. Each cohort company will have at least 1 lead advisor jointly approved by both the Accelerator and the selected company. The Accelerator will have 2 models of engagement with cohort companies: some selected companies will receive a $50,000 capital investment and also a separate value-add, equity-based incentive agreement linked with the mutually developed Milestone Plans. Other companies may receive a smaller stipend infusion combined with an equity-based incentive agreement.
The Capital Region AR VR Accelerator (https://www.crarvraccelerator.com/) previously announced strategic collaborations with the Sacramento Kings, McClatchy New Ventures Lab, Clark Pacific, Moneta Ventures, TechFutures Group and George Foreman Jr./IYC Capital to spearhead innovation and business growth in the exploding augmented reality and virtual reality sectors.
Digital media, creative storytelling, video technology, building and construction, education and enterprise training, healthcare, consumer/retail and sports/entertainment are all growing segments of AR and VR that play to strengths of the Sacramento Kings, McClatchy New Ventures Lab, George Foreman Jr./IYC Capital and Clark Pacific, while early-stage venture capital from venture capital funds like Moneta Ventures fuels the rapid growth of entrepreneurial ventures. Collectively, the collaboration intends to help create an environment and pathway for success for start-up and early-stage AR and VR companies, particularly for those interested in locating to or establishing a presence in the Capital region.
Lokesh Sikaria, Founder and Managing Partner at Moneta Ventures, said “We are excited to see the unique and innovative businesses that emerge from the Capital Region AR VR Accelerator. With AR/VR predicted to be a $50B+ industry in the next 3 years, the accelerator is poised to graduate companies into a rising tide of investment and growth in the industry. Moneta Ventures looks forward to assisting these entrepreneurs in founding disruptive businesses and establishing the Sacramento region as a strong hub of innovation in this space.”
AR VR Accelerator – 2019 Cohort Begins on January 28
The Capital Region AR VR Accelerator is an 11-week intensive program for start-up and early-stage VR and AR companies. The Accelerator program is unique in that it provides a blend of on-site and virtual components, an infusion of capital, custom-tailored mentor teams, a focus on creation of a mutually-aligned milestone plan for each selected company, and a primary emphasis on growing key influencer relationships (investors, team and board members, customers, advisors/mentors, strategic partners and media representatives) that can directly accelerate success in achieving business objectives. In addition to serving on the cohort Selection Committee, representatives from the Sacramento Kings, McClatchy New Ventures Lab, Clark Pacific and Moneta Ventures will participate as guest faculty, mentors or advisors of cohort companies who are focused on their areas of corporate business development and/or investment interests.