Six years ago, Tech Wildcatters began in Dallas as a place to help startups turn ideas on napkins into profitable companies. Now, the accelerator has a new motto: No more participation trophies. Tech Wildcatters plans to accept about 100 startups into its program this year — about five times more than last year. But along with free office space and mentoring, startups will be put through “The Gauntlet.” The accelerator’s new model requires them to hit milestones before they receive any investment. Tech Wildcatters’ Executive Director Molly Cain has a reminder on her laptop for “More Doing, Less Talking.” (Tom Fox/The Dallas Morning News) In previous years, all startups got the same amount of upfront investment — even the ones that goofed off or did not have a sharp business strategy, executive director Molly Cain said. By injecting a dose of competition, Tech Wildcatters staff hopes to invest its fund only in companies with the ingredients to succeed. This time around, she said startups must prove their worth at every step. “The Gauntlet” has already weeded out some startups. The pool of 28 companies that kicked off the new program in late February has shrunk to 21, as companies have dropped out and two merged, chief revenue officer Clarisa Lindenmeyer said Read More...
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http://dallasperspectives.com/dallas-accelerator-tech-wildcatters-gauntlet-putting-100-startups-to-the-test/
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