Businesses selected to participate in the Business Accelerator program will be entrepreneurial, early-stage or technology-based companies that are less than 3 years old or those making a substantial change to their business model. Business selection will be based on the impact potential of company revenue growth, job creation, and technology platform. Retail service or not-for-profit firms are not applicable clients for the program.
Businesses selected may have access to University resources including faculty, students and specialized equipment as appropriate. Linkage to Angel Investors and Venture Capitalists, Pennsylvania and Federal economic development and scientific funding agencies may be provided.
Businesses participating in the program are classified into one of the following categories to determine lease agreement rates and length of participation. Participation in the program is typically 3 to 5 years with graduation to follow. Graduates will be encouraged to locate operations in Monroe County and Northeastern PA.
Organizational Stage (start-up) - Company has produced no revenue and is less than twelve months old.
Early-Stage Company - Company may or may not be pre-revenue. In operation for 3 years or less. Company may be older than 3 years but has been in a research and development mode
Established "Spin-off" Company - Company has been producing revenue and has been established for more than 3 years. To be eligible, company must be attempting to develop a for-profit spin-off/subsidiary or should be taking the business in a distinctly different direction.
The Business Accelerator Program focuses on a variety of industry sectors: Homeland Security, Information Technology, Biotechnology/Life Sciences, Healthcare, Advanced Manufacturing, Financial Services, and PA High Priority Occupations. Additional areas associated with ESU's academic programs
1.Schedule an initial consultation with the Manager of the Business Accelerator Program to determine the type(s) of assistance needed.
2.Review the Business Accelerator Information: the Consultation Form, Business Accelerator Guidelines, Venture Profile, Business Plan Recommendations and the Application for Admission.
3.Complete the Application for Admission and return it to the Business Accelerator Manager along with the completed Venture Profile and if available the business plan.
4.The Manager of the Business Accelerator Program will verify that all documents are complete and will submit the documents to the Business Accelerator Advisory Board for further review.
5.Upon recommendation of the Advisory Board, companies are invited to present their business venture at a scrubbing session. Within 30-days of presenting, companies will be advised as to whether or not they have been selected to participate in ESU's Business Accelerator Program