News Release: No-fee, no-equity program provides Memphis-based startups with customized personal coaching
No-fee, no-equity program provides Memphis-based startups with customized personal coaching
Memphis Crucible pre-accelerator program launched by Epicenter and Alchemist
MEMPHIS, Tenn. (May 18, 2023) – Epicenter Memphis and the Alchemist Accelerator are proud to announce today the launch of Memphis Crucible, a pre-accelerator program designed to prepare early-stage startups to successfully apply to Alchemist’s Memphis Hub.
Startups will receive five bi-weekly 90-minute sessions with a designated coach over the course of the 8-week program. Alchemist's coaches are experienced entrepreneurs, investors and operators with significant professional experience and a track record of advising and operating in successful startups and technology businesses. Local coaches will be available to provide in-person mentoring sessions, which will be complemented by on-line sessions with coaches drawn from Alchemist’s vast network of world-class experts from Silicon Valley and other technology centers.
“Getting accepted by a top-tier accelerator such as Alchemist requires careful preparation,” said Ido Sarig, Managing Director of Alchemist Accelerator’s Memphis Hub. “Many founders have great ideas with a potential to scale, but early-stage companies often are still developing their business plan or market validation. Alchemist Accelerator seeks later-stage startups, so this program is designed to help early-stage founders make progress in such areas so their chances of acceptance significantly improve.”
The personalized sessions are tailored to the specific areas of focus for each participating company. The goal is to help founders think through and make progress against the right levels of problem definition, traction, and customer validation required to successfully apply for Alchemist Accelerator.
“Our partnership with Alchemist is intended to provide access to resources for startups at different stages so they can scale into viable, high-growth companies in the Memphis region,” said Jessica Taveau, president and CEO, Epicenter. “This pipeline program is designed to intentionally provide founders of startups that are in earlier stages with access to experienced coaches, giving them the best chance of success when they apply to the Alchemist Accelerator and beyond.”
The program is available to qualified startups founded in, physically located in, or doing business in the greater Memphis region, including the Mid-South. No tuition fee or equity grant will be required from participating startups, and preference will be given to qualified startups with under-represented founders.
"Our startup is scaling, and we're making a lot of critical decisions throughout the process," said Kontji Anthony, founder and CEO of Memphis-based Youdle (https://youdleit.com/), one of the first companies in the program. “We believe the coaching provided by Alchemist in partnership with Epicenter will help us make those decisions in a more informed, supported, and efficient way."
"I am looking forward to participating in the first Crucible pre-accelerator program,” said Amber Glover, founder and CEO of Glocate (https://glocateme.com/) and a Memphis native. “You can always learn a lot from great coaches, and this is a fantastic resource for Memphis entrepreneurs.”
Companies interested in applying to the Memphis Crucible should contact Alchemist directly at crucible@alchemistaccelerator.com.
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About Epicenter
As the Memphis, Tennessee region's nonprofit entrepreneurship hub, Epicenter is committed to building a vibrant, inclusive economy by supporting startup founders and small business owners. Epicenter and its partners provide equitable connections to transformative resources that drive success for the business, individual and family wealth for the entrepreneur, and regional economic growth by scaling and investing in the Memphis entrepreneurial ecosystem. Learn more at https://www.epicentermemphis.org.
About Alchemist
Alchemist Accelerator is the premier venture-backed accelerator focused on accelerating the development of seed-stage ventures that monetize from enterprises. CB Insights rated Alchemist the top accelerator based on the median funding rates of its graduates. The accelerator's primary screening criteria is on teams, with primacy placed on having distinctive technical co-founders. The organization provides founders with a structured path to traction, fundraising, mentorship, and community over the course of a time-bound program. Backers include many of the top corporate and VC funds in the Valley — including Khosla Ventures, DFJ, Cisco, GE, Next47 (Siemens), and Salesforce, among others. Notable Alchemist alumni include LaunchDarkly, Rigetti Quantum Computing, mPharma, Matternet, and Mightyhive. Learn more at https://www.alchemistaccelerator.com.