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Entrepreneurial Support Services
Ann Arbor SPARK offers select business acceleration services that drive the development of innovative technology startups by shortening the time required to attract capital, talent, customers and other strategic resources.
What we look for in entrepreneurs we support:
- TEAM DYNAMIC – At least 2 co-founders or strongly committed team members / employees.
- COACHABILITY – The entrepreneurs accept and incorporate feedback from advisors, mentors & investors
- SKIN IN THE GAME – The entrepreneurs are financially invested in the startup
- INDUSTRY – Technology-driven company, especially with defensible intellectual property
- STAGE – Past the idea phase, within 1 year of commercialization, with a clear market opportunity, business model and early prototype or MVP. Less than $1 million of outside investment, and less than $1 million in 12-month trailing revenue
- TRACTION – Within 1 year, the company reasonably expects to have sales revenue, raise outside equity and/or have partnered with a larger company
- GROWTH POTENTIAL/ SCALIBILITY – The business could reasonably scale to $10 million in revenue within 5 years
- MILESTONES – The company has targeted milestones that are measurable and achievable with assistance from SPARK’s network and services
- REGIONAL RESTRICTIONS - Company is registered with the State of Michigan, and at least half of employees physically work in the Ann Arbor region. LDFA support is limited to the City of Ann Arbor.
- MANDATORY REPORTING – Company is required to report quarterly during a funding engagement, and annually respond to a survey for 5 years
- Other Criteria – Depends on requirements of the particular program