VentureHive is not your typical business accelerator. VentureHive does not take any equity from companies that take part in our programs or charge a fee.
Name of Accelerator: VentureHive
Location: Miami, FL/Fort Walton Beach, FL/Abroad
Website: www.venturehive.com
Founder and CEO: Dr. Susan Amat (Interview with Dustin Gautney, Program Manager)
This article is part of our Startup Accelerator Spotlight Series featuring accelerators from around the world. We hope these spotlights will assist the entrepreneur should they consider attending an accelerator program.
In two sentences or less, tell us about your accelerator and its objectives.
VentureHive specializes in creating entrepreneur educational content for institutions and communities to create an entrepreneurial ecosystem based on sound educational principles.
Why is your accelerator program unique?
VentureHive is not your typical business accelerator. VentureHive does not take any equity from companies that take part in our programs or charge a fee. VentureHive aims to build companies within a community to drive economic development based on the skills and resources available within the community.
Giving Away Startup Ownership: How Much Is Too Much?
What is the most difficult part of working with startups?
No startup is the same. We work with both international startups and military veteran startups. Each has a unique set of challenges. It is finding the roadmap through those challenges where the difficulty lies – but this is also the most rewarding.
What do you enjoy the most? What do you find most appealing about working with entrepreneurial startups?
Being part of helping someone follow their dream – just being part of their journey is deeply rewarding.
Tell us about your success stories. Which are the most interesting companies to have participated in your program?
- Raw Shorts is one of our first accelerator companies.
They received $ 1.0 Million investment from New World Angels. This is a company that we helped early on in development and chose to stay within VentureHive Miami as an incubator company. For us, it is like watching a close family member achieve truly great success. - Drones Unlimited is in our Fort Walton Beach Veteran Program.
Originally, they came to us with a small idea for a mom and pop style local drone service business. After completing our program, they are now becoming one of the biggest drone-centric companies within the Gulf Coast.
What are the three most important factors startup entrepreneurs should consider when contemplating attending an accelerator?
When considering an accelerator, first and foremost you have to look at the companies that have been through the program. Have they found success? Are those companies able to find investment? Are those companies generating revenue? Secondly, you have to ask what does the accelerator/vc take from me? Am I giving away part of my company to be part of the accelerator? Is the education, mentoring and/or investment I receive from the accelerator worth giving up part of my company? Do I need investment? If a company is generating sound revenue, investment might not be what they need to scale. To them, mentoring could be of more value.
What else would you like to share?
What else would you like to share?VentureHive runs multiple programs throughout the year in both the Miami and Fort Walton Beach offices, as well as virtually. We also house a world-class incubator program within our downtown Miami location, which has become “the” tech startup hub for South Florida. We cater to both military veterans and dependents with our Fort Walton Beach VentureHive Veteran Program. The veteran program is available to all veteran/dependent owned businesses within Florida’s Gulf Coast, as well as a virtual program that is open nationally to veteran owned businesses.
Incubators & Accelerators: Which Best Fits Your Needs?
Are you familiar with other accelerators you believe should be highlighted? If so, we would like to hear from you. Tell us about them in the comments below!
Pam Goforth
Pam Goforth is Research Manager for FundingSage, which provides valuable information, tools and resources to entrepreneurs seeking to start, grow and fund a business.
