Andrews Launch Accelerator
Andrews Launch Accelerator
We help NC State founders turn their visions into reality.
The NC State Acceleration Fund is the product of a $1,000,000 donation from Lyn and Chip Andrews. Through the fund, we allocate equity-free seed capital to startups that complete the Andrews Launch Accelerator. The purpose of the Accelerator is to give NC State founders the opportunity to jumpstart their entrepreneurial journey. We provide founders with the funding, resources, and guidance to grow their company.
During our 14-week summer program, NC State startup founders get to work on their concepts and build their companies. The program is composed of modules that steer companies in the right direction. We hold the modules on Tuesday mornings.
Each module covers key entrepreneurial topics such as customer discovery, product development, and fundraising. The modules end with our Demo Day where companies get to pitch to the top investors in the Triangle.
To learn more, scroll past the blocks below and explore deeper program details.
Meet Chip Andrews
Meet the 2023 Cohort
2023’s cohort consisted of 6 teams. You can learn more about them at this article.
Extra Program Details
- Application Opens
- ALA: Launch Sessions
- Application Deadline
- Finalist Interviews
- Accelerator Kickoff
- Demo Day
Startups typically receive between $5,000 and $10,000 in equity-free grants. The amount awarded will be determined by the Accelerator committee on a case by case basis, and is given in tranches based on completion of the program.
This year’s program kicks off on May 10th, 2022. The module meetings vary between dedicated team meetings, where subject matter experts decompose critical startup lessons to one-on-one development sessions. In addition to the regular modules guided by local experts and the Accelerator team, each team will receive one-on-one guidance from Executives in Residence (EIRs). These EIRs are proven entrepreneurs who will be assigned to each team based on the specific focus and stage of their startup.
In addition to non-dilutive capital, grant recipients receive a number of additional perks.
Perks that have been received in the past have included…
- $5,000 in Amazon Web Services credits
- Pro bono business services (legal and accounting) to support structure and formation.
- Access to banking relationships
- Access to angel investment & venture capital networks
- Talent acquisition/recruiting services
- Access to the NC State Entrepreneurship Clinic space
- Garage Spaces
- Lab or prototyping support
- Design tools for marketing and product demonstration
Any team with an NC State team member qualifies for funding and participation. At least one co-founder or owner of 10% or more of the company’s equity must be either a NC State Undergraduate, Graduate, or Recent Alumni (up to 5 years) from any NC State program.