Surge Accelerator Teams Reflect On Their Program Experience
Posted On |
Image
|
The Syracuse Surge Accelerator set out to empower Black-Indigenous-Persons of Color (BIPOC) entrepreneurs to launch and grow tech-related startups in the city of Syracuse by providing access to capital, industry expertise, skill-building workshops and other resources that could help address business challenges.
By dedicating attention to these areas, the entrepreneurs in the program would be able to build a solid foundation for a successful business. Now that the first cohort has finished their year in the program, the five teams are reflecting on how the program's design enabled them to grow in Central New York:
|
Image
|
Clutch DeliveryFounder: Celestin AbweAccessing Capital: Clutch Delivery secured funding through Grants for Growth and gained entry to another accelerator program, paving the way for future funding rounds. Building Skills: During the Syracuse Surge Accelerator, Clutch Delivery hired five new team members. I learned to conduct interviews, select the right candidates, and effectively manage the team through the onboarding process. Gaining Expertise and Social Capital: Connections to a network of industry professionals and experts, both locally and nationally, provided valuable insights and guidance, enhancing our strategic approach and business operations. Finding Solutions: Hiring an external firm to do build the necessary technology for Clutch Delivery would have been a substantial investment. However, after discussions with the Syracuse Surge Accelerator team, we utilized students at Syracuse University to develop an app. This approach produced the needed technology at 80% less cost than quoted by other firms. |
Certainty LabsFounder: Dr. Brandy YoungAccessing Capital: The accelerator has done a great job of putting me in front of people that are potential partners to access capital from. I'm doing a lot of due diligence to determine who the correct partners are. Building Skills: The one thing that has been a huge takeaway for me is how to communicate my business in a succinct and clear manner. Gaining Expertise and Social Capital: The accelerator was a huge help in finding experts for various aspects of my business operations. In at least one instance, an expert has agreed to come onboard as an advisor. Finding Solutions: Through constant engagement with the team, I was able to find the confidence to speak about my business to investors. |
Image
|
|
Image
|
HippoH ApparelFounder: Hasan StephensAccessing Capital: The initial infusion of cash has given me the opportunity to invest in the things needed to grow the business, from logistical assets to marketing. The opportunity for a low interest loan at the end provides working capital that we would not have access to otherwise. Building Skills: Learning new skills like customer discovery and identification was very helpful. The practice of creating an elevator pitch was also a helpful process and task. Gaining Expertise and Social Capital: The greatest benefit came from exchanging advice and expertise for the fellow cohort members. Each of us came with experience and insight that became invaluable. Finding Solutions: I truly gained clarity around who my customer base is. I walked in thinking my primary consumer was one thing and fellow members and facilitators helped me understand a different value and unique selling proposition of the brand. |
|
TalkadotFounder: Arel MoodieAccessing Capital: Receiving the monthly stipend and the lump sum at the end was an incredible capital injection for my business. The funds allowed us to move with confidence, knowing we had a steady stream of income during the program. Building Skills: The biggest skills I gained through this program were the ability to take a holistic view of my startup and ensure I understood what makes a successful company run. I particularly enjoyed learning about financial statements, which once felt like a mystery to me. Gaining Expertise and Social Capital: Access to social capital and expertise has definitely been a highlight. Bonding with the participants and meeting incredible business minds within our community has been excellent Finding Solutions: The landscape of problems and challenges is constantly evolving, and this program has helped with human resource problems, customer acquisition problems, and access to capital, which allowed my company to pay for engineering help to elevate our product for our users. |
Image
|
|
Image
|
Sign-SpeakCo-founder: Yamillet PayanoAccessing Capital: The monthly stipend has been a tremendous help for us to cover essential expenses, such as data, which directly contributes to the Deaf and Hard of Hearing ecosystem. Additionally, we raised $1.5 million, thanks to the advances we made in the business using the Surge Accelerator's initial grant. Building Skills: The most important knowledge I gained was how to effectively communicate my business and retain employees. I also benefited greatly from the discussions on fundraising and the opportunity to share my knowledge with others, which helped me understand it better. Gaining Expertise and Social Capital: I made a lot of connections not only in the upstate region but also beyond. These connections have opened doors to new opportunities and collaborations that I wouldn't have been able to access otherwise. Finding Solutions: One of the main issues I encountered [before joining the Syracuse Surge Accelerator] was effectively scaling my sales operations. Through the accelerator, I gained access to experienced mentors and industry experts who provided invaluable insights and strategies tailored to my specific needs. |
The founders reflect more on their Syracuse Surge Accelerator experience in a video produced by Laiza Semidey and Legendary Soul Studio.
|
Video file
|
Other
CEO News
CEO News | 12/11/2024CenterState CEO & CNY Community Foundation to Support Micron’s CHIPS Workforce StrategiesMicron has named the Central New York Community Foundation to serve as the lead intermediary to help steward the investment of $65 million in federal dollars awarded by the Department of Commerce as part of Micron’s overall CHIPS Act… |
CEO News | 12/10/2024CenterState CEO President Robert M. Simpson Comments on Finalized CHIPS and Science Act Investment for MicronCenterState CEO President Rob Simpson shared the following statement on the finalized historic CHIPS and Science Act investment for Micron Technology’s expansion plans in Central New York. |
CEO News | 11/25/2024Start It Classes to be held with Northside Learning Center and Blueprint 15CenterState CEO’s Up Start Start It! program will expand in a new, but familiar way this winter. Rather than centralized at the Salt City Market, the next Start It! cohorts will operate on a neighborhood model with support from trusted… |
CEO News | 10/30/2024NY SMART I-Corridor Welcomes Visit From U.S. Economic Development Administration LeadersCenterState CEO and its Tech Hub partners from Buffalo and Rochester hosted U.S. Economic Development Administration (EDA) leaders as part of the EDA's national tour of federally designated Tech Hubs. |
CEO News | 10/16/2024TTM Technologies Celebrates Beam Signing at $130 Million Manufacturing Facility in DewittTTM is building a state-of-the-art manufacturing facility which will be co-located on approximately 23 acres adjacent to TTM’s existing production facility in the Town of DeWitt, Onondaga County. |