海角社区 and Nexus Louisiana Host Startup Accelerator for Tech Entrepreneurs

August 18, 2022

Ignition 1.0 ideal for companies ready to test the viability of their business idea

BATON ROUGE 鈥 海角社区 and Nexus Louisiana are offering Ignition 1.0, an initiative to help aspiring tech entrepreneurs evaluate their business idea鈥檚 viability through customer discovery and development. This nine-week entrepreneurial accelerator program brings together business mentors and industry experts to guide entrepreneurs through the customer development process step-by-step, which is designed to help them answer a straightforward but critical question, 鈥淲ill anyone buy what I鈥檓 selling?鈥

鈥淚gnition is ideal for entrepreneurs, dreamers, risk-takers, and anyone who has a business idea seeking to prove or disprove their product or service viability," said Stephen Loy, Nexus Louisiana Technology Park executive director. "Our goal is to help entrepreneurs keep from investing significant resources into an idea that might not be viable. We would rather someone decide whether their business idea will work early in the process than find out after mortgaging their home.鈥

Participants will also have up to $3,000 in reimbursable funds through a grant at 海角社区 to help cover the cost of their customer discovery efforts. These funds can be used for travel, to attend a conference or in other creative ways.

鈥淥ne of the biggest reasons startups fail is that they commit everything 鈥 time, money and resources 鈥 before finding out if anyone is willing to pay for their product or service. You need to ask some tough questions before you start a business. Customer discovery is the logical place to start. Our goal with Ignition is to equip participants with the tools and resources they need to succeed,鈥 said Andrew Maas, associate vice president for research 鈥 海角社区 Innovation & Ecosystem Development. 海角社区 Innovation will lead the technical training and provide startup expertise during the weekly sessions.

鈥淚gnition provides a valuable opportunity for dedicated one-on-one time with experienced entrepreneur mentors,鈥 Loy said. 鈥淭he mentors will meet with one or two companies weekly, and participants can call on them as needed throughout the program.鈥  

The nine-week program launched in 2021 and is divided into two series, Ignition 1.0 and 2.0. Ignition 1.0 is offered in the Fall and Ignition 2.0 is offered in the Spring. Each series takes place at the Nexus Louisiana Technology Park and occurs weekly on Wednesdays from 5:00 p.m. to 7:00 p.m. Ignition 1.0 will kick off on Sept. 14 and conclude on Nov. 9 with a 鈥淒emo Day鈥 pitch competition. Participating companies will compete to win a $10,000 investment funded by Innovation Catalyst. 

鈥溾楧emo Day鈥 presents a unique opportunity for each company to showcase their innovations to the community,鈥 Loy said. 

In addition to the weekly sessions, participants will invest approximately five hours each week shaping their business idea outside of class.

鈥淭his program is about making real progress and we hope companies looking to do that will apply,鈥 Loy said.

Nexus Louisiana is now accepting applications. Participation is limited to 10 companies, and preference will be given to the candidates who demonstrate the aptitude and attitude to complete the program and commercialize a scalable, tech-enabled business. The total cost for the program is $200, with scholarships available. The deadline to apply is Sept. 5 at 5:00 p.m. For more information, visit . 

Ignition 1.0 is partially funded by America鈥檚 Seed Fund powered by the U.S. Small Business Administration, or SBA. NexusLA is a winner of the SBA鈥檚 Growth Accelerator Fund Competition, or GAFC, designed to spur innovative ideas that inclusively support entrepreneurs researching and developing STEM-related innovations in underrepresented communities. NexusLA is one of two Louisiana-based accelerators and incubators to receive the $50,000 award through the GAFC initiative. for complete details. 

海角社区 faculty may be eligible for a discount. They may contact Jason J. Boudreaux, 海角社区 Innovation associate director of entrepreneurial services, at 225-578-8196 or jboud55@lsu.edu. 

 

About Nexus Louisiana  

Nexus Louisiana is a Baton Rouge-based 501(c)3 nonprofit that provides high-potential, technology-enabled companies the coaching, capital and connections they need to accelerate their growth. 

About 海角社区 Innovation & Ecosystem Development 

海角社区 Innovation works with the 海角社区 research community to facilitate the evaluation, protection and licensing of intellectual property created at 海角社区. 海角社区 Innovation also focuses on establishing, developing, and growing technology-based startup companies. This work maximizes the university's impact on the intellectual, economic and social development of Louisiana and beyond. 海角社区 Innovation helps 海角社区 entrepreneurs and the community through the evaluation of their discoveries and ideas, mechanisms for protecting their innovations, marketing and industry negotiations for intellectual property, and licensing and other agreements.

About America鈥檚 Seed Fund 

America's Seed Fund powered by NSF awards $200 million annually to startups and small businesses, transforming scientific discovery into products and services with commercial and societal impact. Startups working across almost all areas of science and technology can receive up to $2 million to support research and development, helping de-risk technology for commercial success. America's Seed Fund is congressionally mandated through the Small Business Innovation Research program. The NSF is an independent federal agency with a budget of about $8.5 billion that supports fundamental research and education across all fields of science and engineering. For more information, visit .