Betamore, Johns Hopkins Technology Ventures and the University of Maryland, Baltimore are looking for five local digital health, bio-health or life sciences companies to participate in a new collaborative accelerator program.
The application period for Trajectory Next is now open. The new 12-week training program will run from April 1 through June 15. The new program has been branded as a kind of post-accelerator that will offer startups support and assistance as they work to build up their teams, acquire new customers and develop revenue streams. It is designed to serve startups that are navigating the tricky period after graduating from an accelerator or incubator.
Trajectory Next was one of six projects recently funded through the Maryland Technology Development Corp.’s Incubation Challenge. And it was one of two ventures representing partnership between UMB and Hopkins. Each project won $125,000.
Eligible candidates for Trajectory Next must be health or life sciences-related company, located in Maryland or willing to relocate to Maryland. They must also have successfully completed an accelerator or similar program, demonstrate the ability to define metrics and milestones, as well as an understanding of customer segments. They must be able to devote three hours per week of on-site workshop time.
“Many accelerator programs focus on helping startups perfect the investor pitch,” said Megan Wahler, the program manager for FastForward at Johns Hopkins Tech Ventures. “In our experience, startups don’t get enough help with the customer pitch. Our weekly training sessions will fill that gap and get companies over the early sales planning hump.”
The Trajectory Next advisor group, which includes experts from each of the three collaborating organizations as well as external consultants, will meet individually with the five selected startups to assess their strategic plan, evaluate the biggest short-term obstacles and set progress benchmarks.
Trajectory Next will tailor support to each startup’s needs. Advisors will also broker introductions to key customers and advocates to help position the companies for revenue generation after the program. One of the teams will also be selected to receive a cash award.