On Monday September 19th, the UGA Idea Accelerator program began its fifth cycle, with a large cohort of 45 teams vying to take their business idea through this unique 8-week startup gauntlet. Meeting every Monday and Thursday evening on campus, the 45 teams made up of students, faculty, and community members will vet their business ideas using a curriculum designed by ATDC consisting of Customer Discovery, Financial Literacy, and Investor Readiness. Each week, the group will be whittled down based on discussion among the guides and mentors. By November, the remaining businesses will compete for a $5,000 prize provided by the UGA Terry Entrepreneurship Program at a pitch competition on November 14th.

The Idea Accelerator is operated by local economic development nonprofit Four Athens in partnership with the the Atlanta-based startup incubator Advanced Technology Development Center, UGA Terry Entrepreneurship Program, Thinc at UGA, the law firm Founders Legal, as well as the distinguished CPA firm of HA&W, with Athens First Bank & Trust joining the sponsorship ranks for this cohort. Representatives of sponsoring organizations serve as subject matter experts, mentors, and guides for the participating teams as they attempt to tackle the rigorous demands of the program in eight short weeks.

Since its launch under two years ago, the Idea Accelerator has awarded $15,000 to four winning business teams so far, including the winners of the Spring competition, MiraBlue Bio, a biotech startup led by student Song Kue, and QuickPick, led by UGA student Larson Collier, and the Fall 2015 winner, eleez, a concert ticketing startup founded by UGA student Robert Enck. Describing the experience, Enck said “The Accelerator program challenges you to critically evaluate all aspects of your idea and really helps you move from an idea to a potential business.” Another successful graduate of the Accelerator is Clutch Creations, a fashion and lifestyle startup co-founded by UGA undergraduate student Kristi Frank, who will speak about her entrepreneurial experience and the benefits of making it through the Accelerator program at the upcoming Startup Stories event on Thursday, September 29th at Live Wire downtown.