Launching its fifth program year and seed investment fund after seeing breakout success in its 2015 startups, REVTECH is accepting applications for its 2016 program.
The accelerator’s focus area revolves around tech and product innovation for the retail, restaurant and hospitality industries, with an emphasis on engaging the many Dallas-area corporate headquarters of major national chains. The program has recently added numerous mentors and partners with experience and connections in these areas, who have dedicated time to work with RevTech startups.
Ideal startups for the program have a competitive founding team that is developing an innovative product or service likely to have significant impact in the retail market. Preferred startups have at least 2 founders, have built a minimum viable product, and have completed an initial market test. Interested applicants may apply through the REVTECH website at www.revtechaccelerator.com. The application process is competitive with the anticipated 2016 cohort to include between 4-7 companies. Applications will be accepted and evaluated on a rolling basis through May 1, 2016.
The accelerator provides each startup admitted to the 14-week program with seed investment of up to $40,000, free office space at the Dallas Entrepreneur Center, access to highly accomplished entrepreneurial & industry experienced mentors, interactive mentor meetings and development workshops, free & discounted business services, intensive pitch practices, and an opportunity to present at its Pitch Day event at the end of the program to raise a next investment round. In exchange for participation in the program, the accelerator accepts around 8% of the startup’s equity in the form of founder’s shares.
The accelerator has seen significant success among its 2015 startups with members of the class raising more than $2.5M since the beginning of the program. Over the last 4 years, REVTECH has now accelerated the development of 26 companies. In the aggregate, these companies have attracted over $7.5 million of growth capital, have annual revenue of over $10 million, and over 100 full-time employees.
In addition to program activities, the accelerator has also offers a host of major community activities, including its Monthly Breakfast Series featuring program mentors sharing their entrepreneurial journey in 10 pictures in 10 minutes. In addition to Pitch Day in the fall, REVTECH hosts the largest retail tech event in the DFW area; the 4th annual Tech Trends event which takes place in the spring. The accelerator also recently added a new Entrepreneurs in Residence Program for individuals with relevant domain experience in retail and retail technology innovation. Selected applicants to the EIR program will receive complementary workspace and benefits for up to 12 months in exchange for up to 40 hours of consulting services to the REVTECH Community.
For more information on the EIR program, visit www.revtechaccelerator.com/eir.