GIST Business Incubation
Call for Applications

Goal of Program:

This fall, the U.S. Department of State Global Innovations through Science and Technology (GIST) Initiative is piloting the GIST Business Incubation program.  This program will select up to 40 of the most promising ventures from the GIST global network to participate in a six- week, U.S.-based incubation experience with a goal of opening U.S. markets to some of the best innovators from abroad. As implementation partner for this program, VentureWell will partner with incubators and accelerators from across the U.S. to place selected ventures with them for four weeks. We seek interested partner incubators and accelerators for this program.

Incubator/Accelerator Qualifications:

The GIST Business Incubation program is seeking to partner with incubators and accelerators from across the U.S. that meet the following qualifications:

- A background in working with science and technology-based startups across sectors

- Located in a city with a reasonable cost of living

- Experience working with invention-based technology startups at an early stage in a one-on-one fashion to develop business models

- A robust network of mentors and industry experts that can assist the startups

- Connected to local and/or regional early-stage capital networks and funds

- Within a community with significant industrial presence and can facilitate introductions for startups

- Have established programs and existing cohorts of startups with capacity to add up to five startups into their programs.

- Applicants that can provide in-kind resources to support startups are highly desired

- Experience working with International startups a plus

Responsibilities:

Incubators and accelerators will be expected to do the following:

- Provide educational programming, connections to industry experts and mentors, and/or facilitate the startup's exposure to the ecosystem

- Provide a contact person for each startup who will assist them in their entrepreneurial success

- Work with the startups to understand and achieve their short-term goals for participating in the GIST Business Incubation program

- Provide regular feedback to VentureWell on the startups’ progress

- Support international ventures in understanding local market conditions 

- Provide observation and feedback of the program and teams to the VentureWell program staff 

Participation Costs: 

Incubators will not be asked to support any direct costs for startups who participate in this program. VentureWell will cover most costs for participants and the companies they represent; the remainder of the costs will be paid by the startup.  We can provide a small stipend for space to an incubator partner, but the goal of this program is to partner with incubators and accelerators interested in deal flow and soft-landing of startups in their ecosystem. 

How to Apply:

Incubators are asked to submit a short (up to 3-page) application by August 15. The application should include the following information:

  • - Name and contact information 
  • - What services can you offer startups in your space?
  • - What sectors do you have the most expertise in?
  • - What is your experience with international startups?
  • - What cost structure can you offer for startups in your space? Do you have promotional rates for the month?
  • - Who might be a contact person for the startup while on the ground?

 

Questions? Contact Samer Yousif at syousif@venturewell.org