This summer I’ve joined IDEA, Northeastern’s venture accelerator. Serving as a coach, I will look after a portfolio of five early-stage start-ups and help develop their business model and share with them my technical expertise. Why did I choose to join IDEA? For a variety of reasons.
IDEA is a truly exciting organization at Northeastern. Founded and managed by students at the university, IDEA has helped over a hundred different ventures develop their business model and increase their likelihood of market success. These ventures, founded by students, alumni and faculty of Northeastern, also have the opportunity of receiving gap funding from IDEA. Last year alone, IDEA gave away $250,000 in gap funding to these young start-ups.
Several of IDEA’s ventures have made their way to the market and are enjoying great success. Northeastern University embodies the entrepreneurial spirit, and IDEA proves that fact. In fact, it is the nation’s only student run venture accelerator. It has even picked up the attention of Forbes Magazine, which featured it in a story here.
In the words of its CEO Max Kaye, IDEA helps “entrepreneurs in three ways—by coaching, connecting, and funding. Every venture receives a coach, who works with the entrepreneurs on the business plan, financials, and go-to-market strategy.”