NEXUS-NY | About Us | An Accelerator Program for Entrepreneurs
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About

What is Nexus-NY?

NEXUS-NY is an accelerator program which operates at the earliest stage of the entrepreneurship spectrum. We help entrepreneurially minded scientists by providing business know-how, resources, and connections. Our program is based around answering three fundamental questions:
  1. Is there a clear and compelling market opportunity for a given technology?
  2. Can one or more key aspects of the technology be demonstrated to work in a way that's meaningful to potential customers?
  3. Can participants find partners and/or customers who are willing to help validate and/or commercialize the technology?

The program operates through multiple phases.

Phase 1 is structured around answering question 1 – participants spend roughly 10-weeks actively engaging potential customers in order to: clarify target customers, inform their products and business models, and validate their value propositions. This process is structured & rigorous and requires significant effort outside the lab. Participants are granted $10K for travel and are guided by experienced entrepreneurs and receive services from NEXUS-NY partner organizations. Participants that identify a compelling business opportunity and a viable business model may be invited to participate in phase 2.

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.

Interested? Send Us a Message!