SPECIAL PROMOTIONAL SECTION
WHAT EXACTLY IS AN ACCELERATOR ? WHAT DOES IT DO ? A startup accelerator is a short-term growth program that promotes a few years of growth in the span of a few months . Think of them as a boot camp in market readiness and investment development . Studies show graduates from top-rated accelerator programs reached key milestones sooner . The Growth Factory is a one-year program with an accompanying venture fund providing financial investment . We are very excited to have recently invested into 15 promising startups with fantastic founders .
WHY DID YOU DECIDE TO FOUND THE GROWTH FACTORY ? Somebody ’ s got to do it and we are uniquely qualified . For years , my team and I have been on a mission to ignite an entrepreneurial revolution right here in the hometown we love . … After investing into over 50 local companies plus several ( venture capital ) funds , we understand this opportunity first-hand . ( Relationships from radio program ) The Mark Haney Show … and our work in the startup ecosystem puts us in position to build a Backyard Advantage for the region . The Advantage is the region ’ s collective business leaders working as a team to help the most promising startup founders . It ’ s modern-day barn-raising . … Whether investing dollars , mentorship time or strategic connections , there ’ s an invitation to grab hold and support . … Nobody builds a truly great company alone .
MARK HANEY FOUNDING PARTNER , THE GROWTH FACTORY
WHY IS SUPPORTING STARTUPS IMPORTANT ? Successful tech startups create high-paying jobs and help the region retain valuable talent . These workers drive a 5-1 economic multiplier effect . … The Sacramento region has not been attracting nearly the amount of ( venture capital ) dollars as contemporaries like Austin , St . Louis and Baltimore . Why ? We need more venture-backable startups and that ’ s what the Growth Factory is committed to developing . We will invest into 100 companies over four years and help get them further funded . … We are working with ( GSEC President and CEO ) Barry Broome and GSEC ’ s leadership to develop an economic engine and action plan that … includes partnering with civic leaders across the region but focuses on helping startups gain early traction .
HOW DID YOU PARTNER WITH AN ACCELERATOR FOR SPARCK , WHICH HELPS ORGANIZATIONS MOTIVATE AND RETAIN THEIR TOP EMPLOYEES TO OVERCOME “ THE GREAT RESIGNATION ”? Our accelerator experience has been quite diverse ( and ) targeted based on where we were on our journey . We were accepted to Founders Institute in San Francisco — they are an idea-stage accelerator that helped us flush out our initial business plan and prepare for our go-to-market strategy . Since then , we have applied to two accelerators that focus on scalability and building traction in the market . We were accepted to Fourth- Wave and are currently involved with the Growth Factory in the Sacramento region .
WHAT WAS THE PROCESS LIKE ? Every accelerator is a bit different ; however , there is always an application process . … Once accepted , programs can last anywhere from a few months to a full year . There is a set curriculum and milestones that must be met to keep you on track and aligned with your goals . Depending on the growth stage of the accelerator , there are specialty sessions and mentors to equip you with the information you need to be successful . This includes legal , marketing , financials and more . One of the most valuable aspects of the process is the guidance from your designated mentor , the cohort that you ’ re surrounded by and the community you get connected with . I highly recommend it !
ANNA STRAUS CO-FOUNDER AND CEO , SPARCK
HOW DO YOU CHOOSE THE RIGHT ACCELERATOR ? Every accelerator brings a unique value to the startups who are accepted . … Culture matters — especially at the very early stages where there is so much uncertainty . Pick a program that is founder-focused , attracts people who you want to surround yourself with , that understands the importance of traction and that builds networks with other accelerators , investors and resources that you can tap into as you develop .
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