10 finalists of the Velocity Creative Accelerator will be presenting their innovative businesses during this year’s virtual Demo Day on Thursday, October 1. This is the fifth creative accelerator hosted by the Center for Creative Economy (CCE) in Winston-Salem, North Carolina.
The 10 creative companies have been participating in a 9-week intensive education and mentoring program that culminates with the top three startups splitting a pool of $50,000 in seed-stage investment.
During Demo Day, each participant will be pitching and showcasing their creative businesses to prospective funders, businesses, and the community.
At this event, you can explore virtual demo tables and hear each startup pitch. Funding awards will be announced during the event.
Date: Thursday, October 1
Time: Virtual Demo Tables open at 3:30 pm. Program begins at 4 pm.
Registration: The event is free and completely virtual. Registration is required: https://hopin.to/events/velocity-creative-accelerator-demo-day
40 startups from 11 U.S. states and 11 countries globally applied to participate in this year’s accelerator. Of the 10 startups chosen for the program, 50% are run by women entrepreneurs and 50% are founded by people of color.
Since July 28, the Velocity participants have engaged in a robust curriculum developed by CCE in collaboration with Chris Mumford, Professor of Practice at the UNC Kenan-Flagler Business School. This rigorous, street-smart curriculum is organized around the themes of Create, Tell, Sell, and Run, focusing on customer development, financial forecasting, business model, and product-market fit. Startups have worked with seasoned business mentors to guide them through the program.
Due to COVID-19, the entire program has been offered online for those not able to meet in person. CCE did keep its in-person component, which began with Kick-Off Weekend in Winston-Salem, August 7- 9. The event brought the cohort together for introductions and jumped right into customer discovery, financials, and finding your why.
Participants will return to Winston-Salem for Velocity Week September 27th through October 2nd. Post Velocity, startups have the opportunity to continue to work with their mentors and showcase their business to prospective funders.
Since its inception in 2016, CCE’s creative accelerator has launched 40 companies, with 90% still in business, having made $8.1 million in revenue, raising $7.4 million in investments, and having created 177 jobs. “Our startups have made huge strides each year. We are proud of their great work serving customers and growing their businesses. The 2020 cohort is no exception, and I’m sure will do very well as they launch their companies.” says, Margaret Collins, CCE’s Founding Executive Director.