Phase 2 is structured around answering questions 2 & 3 – participants establish a statement of work that clearly identifies technical and commercial milestones and spend approximately 5 months working to meet these critical goals. Participants can expect financial support of $40K to $65K on average plus significant support and services from NEXUS-NY partner organizations.
Equity investments – In some cases, NEXUS-NY will lead seed investments in graduating companies. NEXUS-NY partners with institutional and angel investors to help catalyze seed rounds which have averaged around $350K. These investments typically take the form of convertible debt and are made at the sole discretion of NEXUS-NY’s parent organization, NextCorps.