Venture studio helps launch ideas into companies with accelerated NEXT UP program
INDIANAPOLIS, NEXT Studios, a Midwest venture studio designed by entrepreneurs, for entrepreneurs, with entrepreneurs, announced today the launch of the NEXT UP program. The program is launching its inaugural cohort starting Monday, May 3, 2021 with women-led startups from around the Midwest chosen to take part.
Each month, a different community of underserved entrepreneurs will be invited to hone their ideas during a five-day “Discovery Week.” Those with a unique concept and clear identity will be invited to pitch for a potential investment from an affiliated local impact fund. Once accepted into the second phase of the program, an intense and focused six-month journey will accelerate the typical 12 to 18 month startup process. Pursuing their entrepreneurial dreams will become a full-time job as entrepreneurs work directly with mentors, experts and sponsoring institutions to refine and productize their businesses. A tailored group of services such as management, hiring, branding, finance, operations rapid prototyping and development expertise will help get products to market and generate that first dollar of revenue.
In collaboration with and support from the Central Indiana Community Foundation (CICF) who supports creating a community where everyone has an opportunity to thrive, the third and final phase of the NEXT UP program will provide entrepreneurs an opportunity to pitch for additional funding to officially launch their company.
“It’s an exciting time to be helping create an ecosystem of inclusive entrepreneurship,” said Joe Cudby, managing entrepreneur of NEXT Studios. “Entrepreneurship is hard, messy, complicated and NEXT Studios looks forward to using the cohort model to help actively think about the team element for driving company success and accelerating the lifecycle of startups from big ideas to get them to market faster.”
Four founding teams will be selected to take part in the inaugural “Discovery Week.” Founders seeking to apply for this or later cohorts can visit nextstudios.org/nextup/ or email nextup@nextstudios.org. To learn more about NEXT Studios, please visit next-studios.org.
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About NEXT Studios
Founded in 2020, NEXT Studios is a venture studio that is a partnership of experienced entrepreneurs who help visionaries share their ideas, craft them through a repeatable process, and move them forward with capital and talent. The studio works with entrepreneurs across the state to move their ideas into products and their products into companies. The studio uses a proven process to reduce the risk for investors and encourage more local investors to get involved in our local innovation economy.