Applications Being Accepted for Velocity Project

Staff Report

SANTA FE – The Velocity Project, an economic development program sponsored by the City of Santa Fe Economic Development Division, will accept applications beginning Oct. 9. 

This is the second year of the entrepreneurial accelerator, which provides a vigorous and focused environment for ambitious entrepreneurs. Companies can apply here.

The Velocity Project provides local start-up companies with the opportunity to learn from other successful entrepreneurs in order to fast-track the growth and success of their business.

Applications for the program are due by 12 a.m., Oct. 30.

“It’s critical that we continue to develop our entrepreneurial community and help our best small businesses grow and create jobs. The Velocity Project is designed to do exactly that by providing companies with the tools they need to succeed,” Santa Fe Mayor David Coss said.

This is the second year the MVM Group, a strategic consulting firm, will implement the accelerator. The MVM Group has extensive experience in regional economic development and company building. The pilot program for The Velocity Project was launched last spring and included seven companies. The Spring 2014 program will include ten to twelve companies.

The Velocity Project runs for eight weeks from Jan. 24 through March 14. Companies chosen for The Velocity Project will participate in workshops with an entrepreneurship curriculum that focuses on topics such as building great teams, structuring a company, and developing an exit strategy. 

Entrepreneurs also meet with Velocity Project mentors to learn from their experience and expertise, share their progress, and receive crucial feedback and guidance. In addition, they will receive one-on-one business coaching from the MVM Group.

At the end of eight weeks, each company will present a product and/or company pitch to investors and the public during “Demo Day.” Upon completion of the program, participants receive a $1,000 stipend.

In order to be eligible for The Velocity Project, a company must be an established entity, the business must have a product or service that has been conceptualized or is already developed, and the company must be able to demonstrate the potential impact it will have on Santa Fe’s economy.

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