Our goal with this program is to work with companies in the early stages of developing a business plan and creating the first iteration of their business. We are looking forward to helping them build out plans and create their minimum viable products.
Langhorne, PA (PRWEB) August 30, 2013
Business incubator Novotorium will hold a week-long program featuring classes and individual guidance for health, wellness and nutrition startups on Monday, September 16, through Friday, September 20, in Langhorne, PA, according to Stuart Segal, managing director of Novotorium. The week of programs will be followed by a business plan competition on Monday, September 23, with a prize of $2,500 in cash and $3,000 in services to the top business in the competition.
“Our goal with this program is to work with companies in the early stages of developing a business plan and creating the first iteration of their business. We are looking forward to helping them build out their plans and create their minimum viable products. We anticipate that we will be able to offer seed funding to several companies,” Segal said.
The program is designed for aspiring entrepreneurs who have a health, wellness or nutrition business idea, may or may not have created a business plan, and who have begun or are ready to begin creating their minimal viable product to introduce to potential customers. Each day of the program will feature classes in legal topics, finance, marketing, technology, sales, business strategy, and business plan writing taught by Novotorium partners and staff. In addition, partners and staff will be available to offer one-on-one guidance to entrepreneurs during office hours throughout the week. There is no charge for companies accepted into this special program.
Companies wishing to participate in the program must apply on the Novotorium website using the ordinary application form that can be found at http://www.Novotorium.com/application-to-Novotorium. Applicants should note “TBD” in any part of the application that is yet to be determined. Applicants should also note “Applying for September Program” in the “What Else?” section of the application.
By Friday, September 20, companies will be required to develop and submit a business plan. Business plans will be vetted and slotted into presentation times for the competition on Monday, September 23. The top company in the business plan competition as determined by Novotorium will receive $2,500 in cash and $3,000 in services during a month-long residency at Novotorium. All companies in the business plan competition will be considered for Novotorium’s ordinary funding and business incubation program as well.
Class schedules and office hours with Novotorium partners and staff will be posted on the Novotorium website at http://novotorium.com/early-stage-startup-program/.
As a business incubator, Novotorium invests in businesses and provides a range of services such as strategic guidance, advice from subject matter experts among Novotorium’s partners and business planning services. Novotorium also offers access to tactical business resources such as a call center, a data center, technology development and marketing services.
Novotorium offers selected startups a sliding scale of initial investment amounts between $5,000 and $250,000, with Novotorium’s equity position in startups based on business fundamentals rather than preset investment amounts and equity targets. In addition, Novotorium utilizes a variety of investment structures including preferred shares, common shares and convertible debt.
Novotorium provides a full range of guidance, support and services for health, wellness and nutrition startups, helping entrepreneurs grow their businesses from Concept through Sustainable Operations, and every stage in between. Novotorium is conveniently located in Langhorne, Bucks County, Pennsylvania, in the Philadelphia suburbs with easy access to New York, New Jersey and the entire Philadelphia area. Novotorium accepts applications from health, wellness and nutrition startups on a rolling basis. For more information about Novotorium, please see the company’s website http://www.Novotorium.com.