In case you missed it last week, Beehive Venture Partners and Silicon Slopes have joined forces to launch the Beehive Accelerator. This new accelerator is specifically designed with the needs of Utah founders in mind, offering them the capital, mentorship, network, and community connections they'll need for success.
Unlike many other accelerators that require a 7% equity stake in exchange for participation, the Beehive Accelerator is completely free for startups. Beehive firmly believes in supporting entrepreneurs without taking a share of their companies. This commitment to fostering growth and empowering founders is further demonstrated by Beehive's plan to invest $250,000 (or potentially much more) in the participating startups. The investment terms are favorable for founders, ensuring they receive the necessary capital to propel their businesses forward.
One of the key strengths of the Beehive Accelerator is its strong network of successful mentors within Utah's startup ecosystem. Founders gain access to invaluable guidance, industry connections, and strategic advice from experienced mentors. The 10-week program, hosted at Silicon Slopes headquarters, provides an immersive environment where founders regularly interact with mentors, venture capitalists, and industry leaders. Networking opportunities during lunches and dinners further facilitate relationship building. This unique program helps founders learn, grow, and forge meaningful connections within Utah's vibrant startup scene.
The Beehive Accelerator is open to startups from pre-seed to pre-Series A, fostering inclusivity and offering benefits regardless of current funding or traction. By creating a diverse cohort of talented founders, Beehive promotes collaboration and a supportive community for sharing insights and learning from each other's experiences. Applying to the accelerator is quick and easy, taking less than five minutes, and we have already received several dozens applications.
To quote Clint Betts, CEO and President of Silicon Slopes, "We're excited to partner with Beehive Venture Partners to accelerate early-stage startups in our community, fostering connections between Utah's most promising founders and legendary local mentors. The Beehive Accelerator will help thriving new Utah companies become full-fledged unicorns."