What kind of start-ups are you looking to support?
We are looking for clever and innovative concepts that disrupt traditional models in real estate and its related industries. While there is no exact stage at which Elmspring expects candidates to enter the program, you should have an early-stage operation with some record or plan for success. Typically, companies will have begun to solicit funding or closed a seed round but may not be generating substantial revenues before the session launch date.
What do you mean by real estate and related innovations?
What excites us about this program is that the answer to that question is always changing. A generation of young entrepreneurs now hold the tools to discover new connections that can change the real estate game. Bridging together sometimes dissimilar industries is how exciting ideas are adopted. For example, Zillow and Airbnb cover very different aspects of the same industry, and originated from different places. However, both these companies have since disrupted traditional models of doing business in the real estate sector. We recommend reading through our program guidelines before applying. Consider how a connection to elmspring will not only impact your business but also innovate ways of doing business for our network of brokers, lenders, builders, property managers, and investors.
At present, we have identified a specific demand for candidate companies with innovative approaches to disintermediation, lead generation, big data, smart facilities, social media, and other innovative opportunities for real estate professionals. These targeted segments are of the most interest to us as we build long-term relationships between high potential companies and their end-users.
How many companies will you accept into the program?
At this time we are seeking 10 candidate companies to join us for our upcoming session ( Session 2017 launching in June 2017).
What does elmspring expect from me as a client company?
Elmspring Accelerator companies are each provided with $20,000 in seed funding and access to our “smart capital”. As a minority partner, elmspring will make its extensive network of services and expertise available to you. From that point on, we are with you in the journey to creating a successful company.
To ensure that realization, each member of the accelerator is expected to participate fully in the four month program. Elmspring will meet with companies to achieve self-identified milestones regarding product development, finances, and growth. Beyond the weekly meetings and accelerator programming, member companies are expected to submit quarterly reports to elmspring that provide an overview of their financial health, strategic plans, and job creation. Graduating companies have a quarterly reporting structure.
If offered space in the elmspring accelerator program, accelerator companies will be provided with a more detailed overview of the program requirements, facility use agreement, and relevant legal documents. At no point will your company be required to provide elmspring or its affiliates a seat on their board or management team.
What does elmspring offer me as a startup company?
Elmspring becomes a partner in seeing your business succeed. That means we work with you as your advisors and mentors to help propel your passion forward. The $20k investment, office space, administrative support, mentorship, feedback, and access to growth capital are the tools to see that mission through. It is important to note that, like any relationship, you will get out of it what you put in. While we strive to provide value in our all our service offerings, the total value you get from leveraging the elmspring network is in your hands. Participants who actively seek our support, maintain open communication with our advisors and mentors, and provide feedback on what they need from the program are the ones most likely to succeed.
How can I use the $20k seed funding?
We do not put restrictions on how you can use the initial seed funds. When we partner with a business we understand that each relationship is unique. Some founders may need the funds to take care of living expenses, and others may need it to attend trade shows, build websites, purchase equipment, or pay salaries. Every concept that enrolls in our program is different, and we expect that each will have a different use for those funds. Ultimately, candidates should think about the best way to leverage those funds for smart growth during their three months with elmspring.
How do I apply to the elmspring accelerator?
Complete the application on the Apply Now page and submit any relevant material. We are always looking for companies to join our program, so we accept applications year around for the next session.
It is easy to apply today by going here: Apply Now
I do not see the “Apply Now” button, how do I submit my materials?
Elmspring only accepts applications during open enrollment periods, which means the “Apply Now” page will not be active at all times.
Can I apply to future sessions if I am not selected for a spot on my first attempt?
Absolutely. Program slots can be highly competitive, and we understand that our current space limits make it difficult to accommodate all of the exceptional ideas we come across. Companies who are not selected are encouraged to apply in the future after putting more work into their concepts.
Will you accept non-real estate ideas?
We focus exclusively on real estate and housing technology because it is a space where we KNOW we have can have a big impact for early-stage companies. If you think your concept has applications in our industry or that you would benefit from working with our our strategic and operating partners, we encourage you to apply. One of the most important qualifying questions we ask when we see an application is if we can really help beyond just making an investment. If the answer is yes, you’re probably a good fit.