What is an accelerator?
- We describe the Queen City Fintech accelerator program as 12 weeks of intense mentorship focused on customer acquisition within the financial services space, preparation for the next round of funding, plus a $20,000 grant per company. The accelerator program is structured to prepare your fintech venture for the market and expose you to the network you need to succeed.
What is the difference between an accelerator and an incubator?
- For distinction between accelerators and incubators, check out this article.
When will you start taking applications for the next class?
- Applications for the Spring 2017 Class are closed. Check the front page of our website for updates about applications in the coming weeks.
Do you have any tips for filling out the application?
- Be sure to fully answer each question. We do a rolling acceptance; the earlier you apply, the earlier you will be interviewed and get a decision.
What happens after I apply?
- Our team will review your application. If we feel that you and your company are a good fit, we will reach out to you for a phone interview. If that goes well, we will schedule a follow-up interview on Skype with our leadership team. Each year, our goal is to have offers given, accepted, and the class set by end of January.
What is the timeline of the accelerator?
- The program is a 12 week on-site intensive program, but with continuing support and free work space for 12 months.
What is the ongoing relationship with the accelerator once the timeline for the "acceleration period" is over?
- We realized that a lot of the value of the networking and introductions comes over a full year's time frame. We will hold ongoing advisory meetings with the graduate companies for 9 months after the program ends.
Do I have to relocate to Charlotte?
- Yes. You, or another one of the company’s founders and/or officers, must relocate to Charlotte for the 12 week program.
Do you provide housing for the 12 weeks?
- Yes. We have a wonderful partnership with Extended Stay America that covers housing for each program participant for the full 12 weeks of the program.
What are the accelerator's desired outcomes?
- The main goal is to get you 'investment ready.' There is also a heavy emphasis on the business model and gaining traction via sales, investments, advisors or other.
What equity stake do you require to participate in the program?
- We require a 6% equity stake in the companies in the program. The 6% equity stake does not affect valuation as it is derived from the entire value of the program, including but not limited to any upfront monetary grant.
Do you negotiate terms with companies?
Why should I consider a Charlotte-based accelerator versus other programs across the country?
- If you speak to our alumni, you will begin to see why Charlotte is a fantastic place to accelerate your venture. The cost of living and hiring are low and the access that Queen City Fintech has to major US financial institutions is unparalleled. Check out this video for more information on Charlotte.