Hatch is a startup tech accelerator. Need more info? http:www.hatchnorfolk.com. Follow us on Twitter @HatchNorfolk.
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For high growth companies seeking world-class mentoring, reduced operational costs, and access to pre-seed capital, and for early-stage investors seeing to fill their pipeline with companies with reduced technical risk and proven market relevance, Hatch offers a hands-on accelerator program modeled on national and international best practices, but tailored to the unique features of the entrepreneurial ecosystem in Southeastern Virginia. Unlike incubator programs that support companies needing long-term residency and extended development time, Hatch is an intense, 12-week program that forces companies to quickly achieve meaningful “proof-of-concept” and “proof-of-relevance” milestones. The result is an accelerated validation of viable business models that aids both entrepreneurs and seed-stage investors.
Hatch is an intense, hands-on 12-week session and, as such, has high expectations for the companies accepted into the program. Hatch accepts applications from companies located anywhere in the world, but brings them to Norfolk, Virginia, to be mentored and assessed by local, regional, and national experts and investors. Applicants are evaluated according to five criteria (Team, Product, Market, Pain Point and Execution) and Hatch management has assembled a group of well-known and experienced entrepreneurs and investors to help guide company selection.
Once accepted into one of the 12-week sessions, each company is provided with up to $25,000 dollars, with funding provided by individual and institutional investors seeking to (1) acquire a part of these high-potential companies and, (2) support the growth of entrepreneurial ecosystem in Southeastern Virginia.
At the end of each 12-week session, the companies present at “Hatch Demo Day” to an audience that includes local, regional, and national investors, economic development professionals, and top service providers. The Hatch companies are then offered an additional 3-months of less-intense support to refine their business model, arrange seed-stage financing (if necessary), and expand into the markets identified in the initial 12-week session.