As a startup company begins to deliver goods and services it faces a different set of challenge from what it faced pre-launch. The ScaleUP program helps the founder down that path to success by providing the executive with the coaching and advising necessary to grow the company. New executives often need help in seeking growth funding, hiring, increasing sales, implementing processes, and so many more challenges. ScaleUp mentors and coaches are entrepreneurs who have launched and grown companies and who share their personal experiences and knowledge with the client.
- Founder must own, have licensed, or be working on proprietary technology or some technology, process, or service with a high barrier to entry.
- Founder and WV HIVE must mutually agree that there is an alignment between the company’s needs and WV HIVE capabilities.
- Company must be shipping product/service OR if in a regulated industry that requires trials, must be in trials.
- Company must have less than $5 million in sales.
- Payment of program fee of $1,250 per quarter (payable in advance of the next quarter).
- Sign the client engagement agreement which includes a mutual non-disclosure agreement.
Program Delivery Method and Client Benefits
- One-on-one meetings as needed not to exceed 40 hours per quarter.
- Introductions to potential mentors, advisors, and collaborators.
- Introductions to potential early adopters in the private sector.
- Collaborations with R&D and marketing partners.
- Business funding methods (SBIR Grants, SBA, Crowdfunding).
- Skills training to engage potential stakeholders (i.e. pitch coaching for investors, early adopters, etc.)
- Weekly Office Hours with professional services partners (attorneys, CPAs, etc.)
- Free use of WV HIVE facilities (conference rooms, open work space, etc.) as available.
- Client can lease offices from WV HIVE and Partners (terms & conditions apply)
- Clients who are Smart START Graduates and accepted into our Scale UP program may, within eighteen months of joining the program receive an additional $30,000 in loan funding with our partnered banks.
- Utilizes the tools and principles adopted from the GrowthWheel, Business Model Canvas, and Lean Startup.
- Note: **Loans are not guaranteed. Terms and conditions may apply.
- Program length is ongoing.