October 18-20 | Tucson, AZ

The Research Institution GAP Fund and Accelerator Program Summit

IDEA: Northeastern’s Venture Accelerator launches first wave of ventures

Get our GAP Insights Newsletter

Join Upcoming Events

October 18-20, 2023 / Tucson, AZ
The annual summit for research institution gap fund and accelerator programs, including proof of concept programs, startup accelerators, and university venture funds

The Story

“We take a lot of existing mar­keting the­o­ries and give them an extra touch of ‘oompf’ and young­ness,” said Bramson, who founded the prof­itable buzz and guerilla-marketing agency he now runs with North­eastern Uni­ver­sity alumnus Greg Skloot, B’12. “Everyone in our com­pany is under 24, so we’re exactly the demo­graphic we help con­nect our clients to.”

Influencers@ (pro­nounced “influ­encers at”) is no run-of-the-mill com­pany. It was formed only a year ago with sup­port from IDEA, Northeastern’s student-run ven­ture accel­er­ator, which helps stu­dents and alumni create, develop and accel­erate new busi­nesses through coaching, men­toring and funding.

In fewer than two years, IDEA has worked with more than 200 ven­tures from every col­lege in the uni­ver­sity and pro­vided approx­i­mately $150,000 in funding to more than a dozen teams, many of which have drawn interest from out­side investors. The ven­ture accel­er­ator is in posi­tion to dole out some $200,000 in funding within the next year.

“The con­nec­tions we made and the people we met through IDEA have been incred­ibly helpful,” said Skloot, the chief oper­a­tions officer of influencers@. “We got so much out of our con­nec­tion to IDEA, and we absolutely want to give back to North­eastern and its entre­pre­neur­ship community.”

Over the summer, IDEA has “launched” its first round of ven­tures, com­prising the six busi­nesses that have com­pleted its men­toring pro­gram: influencers@, Akrivis Tech­nolo­giesMini PopsMoniker Gui­tarsPure Pest Man­age­ment and Tuatara Corp. The six com­pa­nies received a total of $60,000 in “gap funding,” grants issued by IDEA to finance promising new ven­tures before they become profitable.

The Boston Globe high­lighted the start-ups’ launch in an article on Monday.

“‘Launch’ means these ven­tures are self-sustaining and have com­pleted the IDEA process,” said its CEO Chris Wolfel, a North­eastern senior. “They’ll always be part of our IDEA family, becoming ser­vice providers and men­tors for us.”

He noted that IDEA will con­tinue to launch new ven­tures on a quar­terly basis and will dis­tribute its next round of gap funding on Tuesday night.

Source: News@Northeastern http://www.northeastern.edu/news/2012/07/idea-launch/

Get the Report

More GAP News