Currently accepting applications for its second round of submissions, Incubation Station, Austin-based start-up accelerator, announced today that it will be extending the application deadline to February 15. In addition to extending the deadline, IS has streamlined the application process with the goal of inviting more high-potential, early stage companies focused on Consumer Packaged Goods (CPG) to apply.
Connecting five selected applicants with a notable group of high-caliber mentors, entrepreneurs, investors and advisors, the intensive 12-week program helps small businesses reach their highest potential. Incubation Station committee members seek out companies with an exciting or innovative product or concept with large revenue potential, new market entry points, financial integrity, scalability, and a willingness to make a positive contribution to the local community. Participants not only receive funding and valuable resources, but also critical business expertise from CPG industry professionals.
Kicking off the second track will be a ‘Selection Day’ event scheduled for Wednesday, February 27th at Abel’s on the Lake where the new round of participants will be announced. Throughout Incubation Station’s mentorship curriculum, participants engage in informative classes ranging from product development and accounting to marketing concepts and operations. Additionally, each will work on pitching and presentations with mentors, further strengthening every aspect of their company’s concept and business model. The program concludes with a final ‘Showcase Day’ event scheduled for mid-June, where the companies meet with over a hundred high-level investors interested in funding early stage consumer product companies.
In a city where creativity and innovation continues to flourish, IS founders acknowledge the potential and resources companies have access to throughout the state while recognizing the importance of extending the reach of the program.
“Recently, Austin has become a central hub for innovation with an abundance of potential resources, and it is a great place to launch and grow a company. Attracting products from around the state and the nation is truly where we want Incubation Station to be headed,” comments Clayton Christopher, Sweet Leaf Tea Founder, current CEO of Deep Eddy Vodka and IS board member.
Having culminated in April 2012, the successful Track 1 program guided five companies to full equity funding, helped each company build strong teams around their products, and enabled all to efficiently scale manufacturing processes, eventually getting their products into stores nationwide. Recent graduates include Thunderbird Energetica, Criquet, Whynatte, Primizie and Verb (products from the founders of Birds Barbershop).
“After participating in Track 1 of Incubation Station we expanded our growth by 300%. We have broken through the borders of being solely an Austin-based company and now serve the entire nation,” comments Taylor Collins, founder and owner of Thunderbird Energetica. “IS helped mold our start-up company into an efficient, goal-setting powerhouse through the sound and strategic advice from the brilliant minds in the diverse mentor pool.”
“Incubation Station provided Criquet with all the tools that we needed to fine-tune our marketing strategy, product offering, and investment pitch,” comments co-founder of Criquet golf shirts, Billy Nachman. “Our mentors pushed us to focus on the core concepts of our business plan, helping to effectively reach our customer, and efficiently message our investor. Since IS Track 1, Criquet has seen consistent and significant revenue growth, helping us secure a strategic capital investment, which puts us in position to achieve significant milestones within the next 9 months.”