By guest authors Irina Patterson and Candice Arnold Irina: What are the core benefits that your accelerator provides? Troy: Here’s the way I look at it. There’s been a debate for years about whether entrepreneurs are born or whether they’re taught. I actually think the right answer is a hybrid. My belief is that there’re
By guest authors Irina Patterson and Candice Arnold Troy: So, by all objective measures, [last’s year program], it was a success. There is a lot of energy and passion in the Chicago marketplace and we’ve decided, obviously, to continue. We have funded the program for the next three years. We raised a fund for three
By guest authors Irina Patterson and Candice Arnold Troy: SurePayroll eliminated the cost of all those pieces: the paper checks and reports, the delivery guy, the car he drove in, and the building drove from and the operator. It really reduced the cost and make it much simpler and easier for small businesses to process
By guest authors Irina Patterson and Candice Arnold Troy: So, in my early days of entrepreneurship I was sitting in the basement writing custom database applications. It quickly became clear that there were more businesses that needed my help than I could personally help.
By guest authors Irina Patterson and Praveen Karoshi Ross: If entrepreneurs don’t take [equity investment] from us, then we ask for 33% ownership in the business because we are giving a ton of assistance to these businesses, I mean, all the training upfront was paid for by us, we paid living stipends, and we pay
By guest authors Irina Patterson and Candice Arnold I am talking to Troy Henikoff, co-founder and CEO of Excelerate Labs, a Chicago-based intensive summer accelerator for startups. The program attracts dozens of mentors from around the country to work closely with, usually, ten teams of entrepreneurs. The 13-week program begins on June 1 and on
By guest authors Irina Patterson and Praveen Karoshi Ross: We set goals. We set a monthly goals for the number of phone calls that the entrepreneurs have to make, which then translates into a number of meetings they are able to set, and a number of proposals, and a number of contracts that they need
By guest authors Irina Patterson and Vandana Upadhyay Linda: We are talking to impact investors from around the world to determine their criteria for investing. We are also looking at corporations in these countries to see what kind of products and services they would buy from entrepreneurial companies, to see if there is market as