An exciting new opportunity is opening up for entrepreneurs here in Dallas: Tech Wildcatters, a micro accelerator is starting up. They just started raising funds at the end of August and this fall they plan to start a boot-camp style accelerator for IT entrepreneurs.
Clarification: This fall is when they will start accepting applications. The first group of entrepreneurs will start in spring 2010.
As you may recall from earlier posts a micro seed accelerator is a company that provides a starter amount of funding, other resources, training and other assistance to entrepreneurs. The other resources may include operating space, access to powerful computers, and equipment too expensive for a startup. Typically, the accelerators take a small amount of stock for providing these tremendous advantages.
Gabriella Draney and Jon Feld started Tech Wildcatters. On Sept 3, I had the great opportunity to sit down with Gabriella and talk about her new venture. I organized her responses into each of these general question categories.
Who will Tech Wildcatters select?
They will focus on IT projects (web or non-web based) or IT enabled services; looking for companies with two or three founders who can spend 100% of their time on giving their project a kick start.
What makes Tech Wildcatters unique?
1. They provide a structured program and not just money.
2. A track record is not necessary. They are willing to place bets on first time entrepreneurs.
3. The product does not have to be patentable but must have advantages that make it best in market to a targeted segment that is large enough to be valuable.
Their uniqueness is what makes this exciting for Dallas. For the longest time I have to tell entrepreneurs that if you never done this before, then without a track record you will have a very steep uphill battle to fight to get funding. Tech Wildcatters sheds a light on this problem and enables that newcomer to get started. It will not be easy for the newcomer but with the proper focus, enthusiasm, good ideas, and experience just executing on something, they have a decent chance. The next few days we will explore deeper into Tech Wildcatters and understand a little bit more about them and their program.
