New Growth Track program offers unique one-to-one, tailored mentoring plus Seven Peaks Ventures capital investment
Bend, OR – April 1, 2014 – FoundersPad, the Bend-based technology accelerator focused on software startups, today launched a new program that offers customized, one-to-one mentoring. The new Growth Track program, led by a team of successful mentors and entrepreneurs, is dedicated to startups that have proven market traction and are looking to rapidly scale and grow their businesses.
A 12-week program designed around the individual needs of each company, the Growth Track will address unique challenges particular to each company’s stage in development, providing support in key areas such as helping to define and optimize sales and channel strategies. Founders will benefit from consistent, dedicated interaction and mentoring provided by experienced industry leaders and entrepreneurs from throughout the Pacific Northwest and California. The participating entrepreneurs will receive support executing their funding strategy that includes an equity investment and the potential for the Bend-based early-stage venture fund Seven Peaks Ventures to lead the company’s funding round.
“By investing in companies that are mentored through the FoundersPad Growth Track program with customized guidance and resources from other experienced founders, we are giving our portfolio a market advantage, and providing our investors with added assurance that we’re strategically investing in the companies that are best equipped to succeed” said Dino Vendetti, General Partner of Seven Peaks Ventures. “Startups at this stage often believe they are beyond the need for an accelerator program and before the FoundersPad Growth Track Program was available, they were right.” The Growth Track creates a customized program with a team of highly relevant mentors to suit each company’s stage in development, something other accelerators do not offer and is a new model in the industry unique to FoundersPad.
Other accelerator programs tend to use a one-size-fits-many approach that results in a growth stage startup not getting true value out of the program. “Startups in different stages of growth require different mentoring strategies,” said FoundersPad Co-Founder, Chris Capdevila. “We designed the Growth Track to provide startups with a more intensive experience at that point when they are ready to more aggressively grow their business. Because Growth Track is laser-focused on one company at a time, our team learns about each company’s business from the inside out. We’re able to target the specific areas of development where the company requires the most guidance, and together we work to create an actionable plan with real objectives, real tactics and real measures of success.”
Bend-based Amplion Research, a med-tech startup that develops clinical decision support solutions for pharmaceutical and diagnostics companies, is the first company to take advantage of the FoundersPad Growth Track program. “We thought we were beyond the point of getting value out of an accelerator program, but because of FoundersPad’s custom-tailored approach and one to one mentoring, we are now building quickly on our early market traction,” said Amplion Research CEO John Audette. “Advisors with deep industry expertise are key to growing and scaling quickly. FoundersPad delivers that level of expertise and the capital investment from Seven Peaks Ventures will help us strategically implement our growth plan. The program is already paying off by helping us identify new opportunities to add value for the pharmaceutical industry.”
FoundersPad reviews applications for the Growth Track program on a rolling basis. Interested startups can review criteria for acceptance and apply online at FoundersPad.com.