On Thursday, February 7th, the 10th cohort of the UGA Idea Accelerator will kick off an 8-week program focused on helping startups and small businesses test their viability.

Over the course of the program, teams will go through the customer discovery process, learn how to create a financial model for their idea, and practice pitching to investors. The program culminates with a Demo Day judged by a panel of local entrepreneurs and investors. The Spring Demo Day will be the unveiling of the latest Athens-based companies and the winner will take home a $5,000 prize, awarded by the UGA Entrepreneurship Program.

"The UGA Idea Accelerator is a tremendous collaborative effort between the UGA Entrepreneurship Program, Four Athens, and the Advanced Technology Development Center. The support for startups across the State of Georgia is greater than it has ever been before and we take pride in helping to educate and prepare for success the next generation of entrepreneurs." said Bob Pinckney, Director of the UGA Entrepreneurship Program, "The twice a year UGA Idea Accelerator is a huge asset for the Athens and University entrepreneurial ecosystem and has led to the creation of multiple startups. We are excited about our accomplishments of the past and what the future holds for support of startups in Georgia."

In the previous Accelerator cohort held in the Fall, nearly 50 teams tested the viability of their ideas. Over the course of the 8-week curriculum, designed by the Advanced Technology Development Center (ATDC), the initial teams were whittled down to the final six teams based on key startup success areas such as Customer Discovery, Financial Literacy, and Investor Readiness. In the final pitch competition, a panel of local judges assessed each idea’s business viability: the problem being solved, whether the solution actually solves the problem, and how suited the team members are to the task. To date, the UGA Idea Accelerator has worked with 315 teams to test the business viability of their ideas.

"We're so proud to have a program like the UGA Idea Accelerator in Athens and see it grow into a community asset,” said Michelle Nguyen, Director of the Athens-Clarke County Economic Development Department. “We feel it's important to get local start-ups in front of the community that they're in so that they can take advantage of all the connections and resources Athens has to offer."

The UGA Idea Accelerator is operated by local economic development nonprofit Four Athens in partnership with ATDC, the UGA Entrepreneurship Program, and the Athens-Clarke County Economic Development Department. Representatives of these sponsoring organizations serve as subject matter experts, mentors, and guides for the participating teams throughout the program.

Applications to join the Spring 2019 cohort are being accepted through February 1 at https://www.fourathens.com/accelerator.

Since its first round four years ago, the UGA Idea Accelerator has awarded $45,000 to nine winning business teams, including the winners of the Fall 2018 competition, SparkWomen, a education and mentorship program for women electricians founded by UGA Marketing student Kaitlin Lutz. Other previous winners include AvantiCure, Uzo, Nedza’s Waffles, and the first cohort winner, Athens-based adventure sharing platform Vestigo.