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VentureAccelerator is a venture creation assistance program that systematically guides technical entrepreneurs from invention to venture. Through its methodology, VentureAccelerator helps inventors significantly reduce the risk of failure in the creation of a new business and its first year of operation.
Specifically, VentureAccelerator offers services and assistance which address specifically the five fundamental causes of new technology business failure:
- Lack of sound business planning
- Misunderstanding of markets or customers
- Improper alignment and timing of efforts
- Incomplete management teams
- Insufficient capital
VentureAccelerator delivers risk reduction by using a powerful combination of best practices, mentorship, networking, leveraged University resources and the investment of social capital.
Generally, founders will travel through the program within 18 months. After this period, the new company is expected to "graduate" from the Program and either compete for further resources from other MTECH programs such as the Technology Advancement Program (TAP) or commence operations in a commercial environment.
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