Betamore, Johns Hopkins Technology Ventures (JHTV) and the University of Maryland, Baltimore, through UM Ventures, announced that they are now accepting applications for Trajectory Next, a training program designed to support local startups in the digital health, bio-health and life sciences spaces. The 12-week program is funded through the TEDCO Incubation Challenge, in recognition that innovation powerhouses can together provide critical support and guidance to local startup companies as they gain sales momentum.
“Many accelerator programs focus on helping startups perfect the investor pitch,” says Megan Wahler, the Program Manager for FastForward at Johns Hopkins Technology Ventures. “In our experience, startups don’t get enough help with the customer pitch. Our weekly training sessions will fill that gap and get companies over the early sales planning hump.”
The application period for Trajectory Next will close on February 19, 2018. Eligible candidates for the program must meet the following criteria:
- successfully completed an accelerator or other similar program,
- the ability to define metrics and milestones,
- willingness to devote three hours per week of on-site workshop time,
- an understanding of customer segments and hurdles to adoption.
In addition, candidates must be a digital health, bio-health innovation or life sciences company located in Maryland or one willing to relocate to Maryland. The program will feature five startups and will run from April 1, 2018 through June 15, 2018.
“Even the best companies exiting accelerators and equipped with seed funding require ongoing support,” says Jim Hughes, co-director, UM Ventures and Vice President, University of Maryland, Baltimore. “Through Trajectory Next, we will help companies develop revenue streams through hands-on training and by making important connections to our experts and resources.”
The Trajectory Next advisor group, which includes experts from each of the three collaborating organizations as well as a set of external consultants, will meet individually with selected startups to assess their strategic plan, evaluate the biggest short-term obstacles and set progress benchmarks. Through a workshop approach, Trajectory Next professionals will tailor support to each startup’s needs. This might include the building of sales channels or facilitating pilot programs, user research, market development and recruiting. Finally, and critically, Trajectory Next advisors will broker introductions to key customers and advocates that best position participants for revenue generation after the program.
“The hands-on training support and brokering of connections goes beyond the average ‘accelerator.’ This is a partnership that fully leverages our top universities, venture and entrepreneurship organizations in Maryland,” says Greg Cangialosi, Chairman/Co-Founder, Betamore. “We look forward to working with local startups who are ready to take that next step.”