MFF Pre-Accelerator powered by gener8tor
To increase the success rate of startup Michigan businesses from underrepresented communities, Michigan Founders Fund is collaborating with global venture firm and startup accelerator gener8tor on a new program in Michigan. The inaugural Michigan Founders Fund Pre-Accelerator powered by gener8tor will accept applications beginning in late 2024 to begin its first cohort in 2025. This accelerator focuses on early-stage companies led by underrepresented founders from any industry.
The Michigan Founders Fund Pre-Accelerator (MFFPA) is a free, seven-week, no-equity accelerator program that provides startup founders with operating grants as well as personalized coaching and programming alongside access to a robust network of mentors, customers, and investors. The unique program is tailored to prepare early-stage startups for participation in future equity-based accelerator programs and investment opportunities (hence the “pre-accelerator” name).
During the first year, the program will support startups with high-growth potential in Southeast Michigan led by underrepresented founders from various industries and sectors. It will follow the curriculum of gener8tor’s proven global pre-accelerator, gBETA, which has been accelerating entrepreneurs for nearly a decade. Participating companies will also receive non-dilutive funding from Michigan Founders Fund and leverage its extensive network for further community, mentorship, and growth opportunities.
About the Program
MFFPA helps entrepreneurs work in and on their business while also attaining the entrepreneurial mindset and network needed to be successful.
Additional program focus areas include validating the company and model, growing customer traction, and preparing for investor pitches.
MFFPA embraces a concierge approach to its programming. That means founders receive one-on-one attention throughout the program. Everything we do is personalized to your business, no matter how far along you are in its development.
Up to a half-dozen companies from a range of verticals are selected from a competitive applicant pool to participate in the free seven-week program. Participating companies receive:
- At least $15,000 in non-dilutive grants from Michigan Founders Fund
- Individualized coaching and mentorship from both teams of nationally renowned accelerator gener8tor and locally grounded Michigan Founders Fund
- Weekly in-person “Lunch & Learns” and “Mentor Swarms”
- Investor and accelerator meet-ups and pitches
- Boosted media and public attention that lead to exposure and further support
- Lifetime membership access to GAN (Global Accelerator Network)
- $1M+ in deals and perks from vendors like IBM Cloud, Rackspace, Amazon, Paypal, Zendesk, Hubspot and Microsoft
- Ongoing post-program support from both gener8tor and Michigan Founders Fund community involvement and offerings
MFFPA’s goal is that program graduates will go on to participate in an investment accelerator or raise a seed round for their business.
Application & Timeline
The initial cohort applications for MFFPA will be available throughout November 2024. Final candidates will be informed by mid-December and the program will begin in early January 2025.
Please check back here for full details right after Halloween!
Eligibility Criteria
Full Criteria will be available in November 2024
You’re Based in Southeast Michigan
The initial cohorts of MFFPA are for early-stage companies located in Southeast Michigan. This is an in-person program that will meet in Detroit multiple times a week. Our intention is to expand the offering throughout the state once we’ve had a successful run of the model in SE Michigan.
You’re Committed
While we don’t expect you to be full-time on your business yet, in-person programming is a five-hour commitment each week, and we expect that you will be spending additional time working on your business each week outside of the program.
You’re an Underrepresented Founder (Industry Agnostic)
You’re an Underrepresented Founder (Industry Agnostic)
The MFFPA programming is open to all established startups from various industry verticals that are led by underrepresented founders in high-growth startups. We will use the federal and state-backed SEDI business qualification for our initial cohorts.
You’re Ready to Grow
You’re Ready to Grow
MFFPA companies are primarily post-product and pre-scale, although we may also consider those ranging from “I have a product in the works” to “I have significant revenue.” If you are prepared to make use of coaching on customer growth and investor readiness, mentor meetings, and investor and accelerator pitches, we’re ready for you!
Partnership
Together, gener8tor and the Michigan Founders Fund aim to bring economic diversity and job growth first to Southeast Michigan–and eventually statewide–ensuring that underrepresented founders receive the resources and support they need to succeed.
About Michigan Founders Fund
Michigan Founders Fund is the leading statewide network for high-growth founders and investors. Focused on building a thriving and inclusive entrepreneurial ecosystem through a founder-first culture, members represent a wide range of demographics and regions across the state. More than 150 members have collectively raised over $350 million of investment capital through 15 different industry verticals, while also committed to lifting local communities.
As a 501(c)(3) nonprofit organization, Michigan Founders Fund is composed of founder and investor members who commit 1% equity or carry to a philanthropic fund supporting Michigan’s social sector through local grant-making.
About gener8tor
gener8tor is a global venture firm and accelerator network that supports startups, workers, employers, artists, and musicians across race, place, and gender. gener8tor partners with companies, governments, universities, and nonprofits to operate accelerator programs and conferences in more than 45 communities across 25 states and territories and three countries.
gener8tor runs the gBETA program as a non-equity accelerator that facilitates the growth of early-stage companies through a network-driven program. Since launching in 2015, gBETA accelerator alumni have raised more than $776M in capital and created more than 4,700 jobs across the U.S. and internationally.
