Frequently Asked Questions

  • Who's involved?

    Betaspring is a member of the Global Accelerator Network of startup accelerators and is led by co-founding partners Owen Johnson, Allan Tear, and Jack Templin. Collectively, the partners--each deeply connected with and committed to driving a national startup revolution--have been on the founding teams of ten technology startups and raised more than $30M from angels, VC’s, and strategic partners.

    Owen, Allan and Jack are supported by a powerhouse staff who share their passion for enabling entrepreneurship.

    Betaspring mentors--experienced entrepreneurs, investors and business development coaches--are also closely involved with the program, providing both group and one-on-one mentoring.

  • How Does Betaspring Work?

    Betaspring is a full-immersion 12-week program that enables teams with a potential high growth venture to rapidly transform into functional, fundable company. Teams are selected through a competitive application process, where up to 20 teams are selected from across the country to come to Betaspring HQ in Providence, Rhode Island. Betaspring runs two cycles per year (Spring and Fall).

    Over twelve weeks, teams develop and refine their prototype or product, launch it to an initial group of customers for feedback, and test their delivery and/or business models. Through diligent practice and interactions with Betaspring Mentors and select audiences, each start-up creates a polished and professional company pitch and demo to present to investors and potential partners.

    By the conclusion of the program, companies are well-positioned to attract follow-on funding or have built a path to profitability wherein they can operate without additional investment.

    Betaspring also provides companies a standardized legal incorporation and accompanying equity agreements so that companies can get started quickly.

  • What does Betaspring receive in exchange for program participation?

    Betaspring takes 6-10% of common stock in companies that participate in the program.

  • What's Betaspring's track record?

    Betaspring has launched 72 companies.  Our  companies have raised ~$25M in follow-on funding. 

  • Does the program provide seed capital?

    Yes. We will provide a small amount of seed capital (up to $20,000),  as well as free legal counsel, incorporation filing, and other legal work necessary to complete your business model. Additionally, you’ll have access to Betaspring HQ, a fully-equipped workspace where your team can work as well as interact with other teams participating in the program. for you and the other teams to get together to meet, share ideas and work on your companies.

  • What industries/markets does Betaspring focus on?

    Betaspring has three "tracks" within the program: Web/Mobile, Physical Technology and Gaming.

  • I already have funding. Can I still apply?

    Yes. In your application, please specify the nature of your previous funding.

  • What kind of teams are you looking for?

    Betaspring is a fast-paced, intensive program that will challenge companies to complete a development cycle in 12 weeks.  We are looking for teams that have the right mix of skills and personalities to make it through the trials of going from startup to high-growth company.  We have experience working with diverse teams, from recent grads to fifty-somethings. What they do have in common is the vision, drive and skills to significantly accelerate their company in a compressed time frame. Because of this, we are most interested in web, mobile, physical technology and design-driven companies.

  • Can I work from my home state?

    No. Teams must relocate to Betaspring HQ in Providence, Rhode Island for the duration of the 12 week program. We'd love for you to stay afterwards, but primarily we want our graduates to be successful, and to locate in the place that is best for their company. 

  • Does Betaspring provide housing?

    No. However, we offer advice on finding modest living arrangements. We’ll also put you in touch with the other teams so that you might make arrangements together.

  • Do we have to be US citizens?

    No, although we cannot provide Visas for foreign team members. You are expected to have a valid visa for the duration of the program.

  • I have been running my company for a year, can I still apply?

    Yes. Many companies accepted into the program have done significant product development work or have launched an early version of their product. While you may be past the prototype stage, we will help you scale your business, connect to customers and market partners, obtain funding, and overcome other obstacles to growth.

  • Am I expected to keep my company in Providence after the program ends?

    No...but we believe Providence is a great place to be and to develop a company, that’s why we live here, love it here, and locate our companies here.