UNIVERSITY PARK, Pa. — This spring, the Happy Valley LaunchBox, powered by PNC Bank, will offer two free startup accelerator programs that provide community and Penn State entrepreneurs with resources and guidance to help them turn business ideas into viable businesses. Extended business.
Idea TestLab applications will open in January. 3, 2023.
The FastTrack Accelerator is accepting applications now until January 1st. 6th of 2023.
Elizabeth Hay, Jack White Family Director of Happy Valley LaunchBox, said: “Idea TestLab is ideal for those with very early stage ideas who want to connect with potential customers and understand how their business can provide unique value.” “FastTrack Accelerator is ideal for those already Startups that have passed that validation process and are now ready to develop an actionable plan to launch their business.”
Applications for both the Idea TestLab and FastTrack Accelerator are open to community entrepreneurs and Penn State students, faculty and staff.
Idea TestLab – 3 applications open in January
Idea TestLab is a 4-week program designed to help teams assess the viability of their business ideas. Teams are guided through proven customer discovery and problem analysis methods to find out what problems customers are having and what value they can provide that no one else can.
The Idea TestLab application window will open on January 1st. 3 and closed in January. 24. Penn State affiliation is not required to apply. Teams will meet weekly for four weeks in February.
As part of the Idea TestLab, participants will receive:
During the program, participants will identify currently available solutions, understand where they fall short, and define the value that participants can provide that others cannot.
FastTrack Accelerator – 6 applicants before 1 month
The FastTrack Accelerator is a 10-week program that helps early-stage startups better refine their target market, test the market and develop an actionable plan to acquire customers or expand their business. At the end of the program, participants will enter a pitch contest for the chance to win up to $5,000 for their business.
Application does not require Penn State affiliation. The founders retain all rights to their ideas and there is no fee to participate in the program. The program will run from mid-January to mid-March.
As part of the FastTrack Accelerator, participants also have:
-
One-to-one guidance.
-
Sponsor a semester-long intern through the SEDTAPP ENtern program.
-
One-year subscription for SolidWorks and io add-ins.
-
Access to 60+ consultants and experts.
-
24/7 access to the Happy Valley LaunchBox with space in their team room.
-
Up to $1,500 for market testing through the Market Testing Fund.
At project completion, the team will form a formal business entity, craft a unique value proposition, define a viable business model, and develop a marketing and sales plan.
Recent FastTrack Accelerator participants include Basketball Today, Earthrainer, and VertaWorks.
About the Happy Valley LaunchBox Powered by PNC Bank
The Happy Valley LaunchBox, powered by PNC Bank, provides early-stage startups with the support and resources they need to build sustainable and scalable businesses with viable growth plans. Free programs and services include co-working spaces, accelerator programs, legal and intellectual property advice, and expert guidance from Penn State’s extensive network. LaunchBox is open to everyone—community members and Penn State affiliates. The Happy Valley LaunchBox, powered by PNC Bank, is the signature project of the Invent Penn State initiative and one of 21 innovation spaces located in the Penn State campus community.