Geekdom and Alamo Angels will offer $25,000 to get a local entrepreneur’s idea off the ground, the groups announced Tuesday.
The San Antonio co-working space on Tuesday opened the call for applications to the Geekdom Pre-Accelerator with a deadline of April 3.
The program will prepare local startups – five to six will be chosen among the received applications, Geekdom CEO David Garcia said – for accelerator applications, or early-stage investment, through mentorship from local tech leaders and investors.
Geekdom’s Pre-Accelerator will kick off April 12 and end May 24 with a demo day in which the participants will showcase their work.
The six-week program differs from an accelerator in length and nature. Startup, or seed, accelerators typically last about three to four months, Garcia said.
“In the last six years, we have made a difference in the impact of the city of San Antonio,” he said, referring to Geekdom’s efforts in helping local entrepreneurs. “With continued programming like this, it allows us to refocus on helping entrepreneurs get their start here, and this is a good place to do that.”
Although Geekdom primarily serves tech startups, Garcia said he hopes to see a well-rounded group of applicants and, eventually, cohort representing different industries.
“San Antonio’s startup community is thriving, and we need more resources to prepare high-potential companies for funding. This program will help local startups gain initial traction and become investor-ready,” said Chris Burney, who co-directs the program and is the executive director of Alamo Angels, formerly the San Antonio Angel Network. “Alamo Angels is excited to commit at least $25,000 of equity investment to a selected team at the end of the program.”
Startups can still work on their product while participating in the program, which will entail a weekly three-and-a-half-hour session and one-on-one meetings with program leaders, mentors, and investors throughout the week. The hope is that the program, which is free and requires no equity to participate, will become an annual event at Geekdom, Garcia said.
The announcement comes as applications are set to close this Friday for Geekdom’s Community Fund program, another initiative aimed at giving early-stage entrepreneurs a boost. The winner of that contest, which has been open since Feb. 27, will receive $10,000.
Prospective applicants can visit the Pre-Accelerator website for more information.