1Mby1M Partnerships

7. Are there partnerships with other startup ecosystems, competitions, or corporate incubators, and can I access scholarships or joint programs?

Yes, 1Mby1M has a model that involves partnerships and offers a form of “scholarships” through these collaborations. The program’s founder has detailed its unique approach to working with other organizations.

Here’s a breakdown of how this works:

Partnerships with Other Ecosystems and Corporate Sponsors

1Mby1M’s partnership strategy is not to directly integrate into other accelerators or incubators, but to provide its “Incubator-in-a-Box” (IIAB) platform. This allows other organizations, such as:

• Local economic development agencies
• Corporations
• Universities

to leverage the 1Mby1M curriculum and methodology. These sponsors essentially pay for the 1Mby1M Premium program for a select number of entrepreneurs. This model is mutually beneficial:

• For the Sponsor: It provides them with a proven, cost-effective way to run a world-class incubator program without having to build the curriculum, mentorship model, and network from scratch. They can also use it to screen for promising businesses that they may want to invest in later.
• For the Entrepreneur: It gives them access to the full 1Mby1M Premium program for free, funded by the sponsor. This is a form of a scholarship or a joint program.

Scholarships and Joint Programs

The term “scholarship” is used in this context to describe a sponsored membership. These are not open to the general public for direct application but are provided through the partnerships mentioned above. For example, a corporation might sponsor 50 entrepreneurs in a particular region to participate in the 1Mby1M program for a year. The entrepreneurs get all the benefits of the Premium program at no cost to them.

This model is a key part of 1Mby1M’s mission to make high-quality mentorship and resources accessible to a broader range of entrepreneurs globally, beyond the typical Silicon Valley ecosystem.

Competitions

While 1Mby1M itself doesn’t run traditional startup competitions with cash prizes (like MassChallenge), it does sometimes use “entrepreneurship contests” as part of its partnership model to select candidates for sponsored memberships. This allows its partners to identify top-performing entrepreneurs in their communities and award them with the 1Mby1M scholarship.

In summary, you can access scholarships or joint programs through 1Mby1M’s partnerships with other organizations. The best way to explore this would be to see if there are any such partnerships in your local area or industry. The program’s website and blog often highlight these collaborations and the opportunities they create.