Goleta Entrepreneurial Magnet (GEM) Now Accepting Applications for Its Inaugural Summer Accelerator Program

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Summer Accelerator Program Aims to Help Entrepreneurs Get Their Start-Ups Started

“This great opportunity has never been presented to Goleta before. It will bring in passionate entrepreneurs who have the eagerness and drive to build a strong foundation for their start-ups," said Doug Lynch, GEM executive director.

Goleta Entrepreneurial Magnet (GEM), a provider of resources and support to science and technology start-up businesses, today announced the introduction of its inaugural Summer Accelerator Program at their new incubator office located in Old Town, Goleta. The program, which will enable teams of entrepreneurs to develop business-related skills necessary to get their start-ups going, will take place from July 5-September 12, 2014.

Applications for the Summer Accelerator Program are available now and due by May 22, 2014. Six teams will be selected. GEM will provide an investment of up to $8,000, the teams will attend weekly workshops, receive mentorship and advice from experts in their field, secure working space at the GEM business incubator, have the chance to pitch at Investor Demo Days, as well as receive various other partner perks. These opportunities will help kick-start the ideas of these dedicated entrepreneurs and get their start-ups going in the right direction.

“We are so excited for GEM’s first ever Summer Accelerator Program,” said Doug Lynch, Executive Director of GEM. “This program is a great opportunity that has never been presented to Goleta before. We believe that it will bring in many passionate entrepreneurs with fascinating ideas who have the eagerness and drive to create a strong foundation for their potential start-ups.”

In addition to the required application form, those interested in GEM’s Summer Accelerator Program must also upload a PDF file that contains a brief one page resume for each team member. Pitch decks in PowerPoint format, providing a very brief presentation of the company, are also accepted.

The Summer Accelerator Program will loosely follow the Business Model process (as compared to the Business Plan process) and a familiarity with the Lean Startup methodology and the works of Steve Blank, Eric Ries and Ash Maurya would be helpful, but not required.

GEM is a collaboration between the City of Goleta, the Goleta Chamber of Commerce and UCSB, dedicated to strengthening the local economy through providing training, venture capital funding and mentors to support startup and growing businesses. Their goal is to help start-up businesses succeed and thrive, and their Summer Accelerator Program is their first step in doing so.

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