LAUNCH! Annapolis announces an accelerator powered by FounderTrac

Ryan Sears
Dec 2, 2020 · 5 min read

Applications are open until December 15th, 2020

Wednesday, December 2nd, 2020: LAUNCH! Annapolis will be running a virtual accelerator cohort that will begin in January. The program is sponsored by Anne Arundel Economic Development Corporation (AAEDC). The Maryland-based accelerator will be held completely online, leveraging the nationally-recognized, virtual accelerator platform from FounderTrac. The accepted companies will benefit from an intensive tech startup development program that provides resources to help companies become venture capital ready. The previous accelerator demo day had 250+ in attendance, including over 50 accredited angel investors and VCs.

Interested startups can get more information and apply by filling out an application at FounderTrac’s website https://www.foundertrac.com/

Hosted on a virtual accelerator platform

Prior to COVID, the FounderTrac team spent 2 years developing their FounderTrac Virtual Accelerator Platform (FTVAP). When COVID disrupted the business community, FounderTrac leveraged the platform to help power leading business accelerators like Patriot Boot Camp (PBC) and Conscious Venture Labs (CVL). CVL Founder and Fund Manager Jeff Cherry called the FounderTrac Virtual Accelerator Platform “the most robust, fully integrated platform in the industry; incorporating proprietary assessment and educational tools, learning modalities, mentorship, and investment tracking.” To date, over 200 companies have used the FTVAP. In 2021, FTVAP will be released to a wider audience of founders, mentors, ecosystem builders, and investors.

Ryan Sears, Co-Creator of FounderTrac says, “This has been a tough year for businesses but it was serendipitous that we had a virtual tool ready to go. Partnering with PBC and CVL was in line with our mission to create “Fulfillionaires” (founders who seek a venture outcome while doing fulfilling work). In 2021, the platform is being adopted by a broader user base, so it was a natural fit to be powering this LAUNCH! Annapolis accelerator cohort for our home ecosystem.” For this upcoming cohort, FounderTrac partnered with LAUNCH! Annapolis and the Anne Arundel Development Corporation (AAEDC). AAEDC encourages entrepreneurs in the cohort to consider setting up shop in Anne Arundel County in order to take advantage of the existing robust tech network.

The 10 companies who are selected for the upcoming FounderTrac program will receive the following benefits:

  • FounderTrac’s online collaborative company building platform
  • Access to the Founder Focus Assessment™ algorithm with startup risk readout
  • Access to ‘Sherpa’ mentoring and advisory network
  • Work sessions with professional templates, worksheets, and examples
  • Small group coaching facilitated by subject matter experts and elite founders/executives
  • Ask Me Anything (AMA) sessions led by subject matter experts and elite founders/executives
  • Virtual events including kick-off & Demo Day benefiting from expert production and publicity

Attracting diverse and innovative businesses

FounderTrac has enjoyed a great relationship with the State of Maryland, has partnered with TEDCO, The Maryland Department of Commerce, The City of Annapolis, and now, the Anne Arundel Economic Development Corporation. Two-time exited Founder, and Maryland resident Adam Bixler says “Having launched 2 tech startups in Maryland, I recognize the value of bringing together the resources and mentorship of exited founders to accelerate economic growth in our region.” LAUNCH! Annapolis ecosystem builder, Tricia Dyer says, “It is exciting to welcome a new cohort and show them what the area has to offer.”

Previous FounderTrac cohorts have included companies like Frey for Men, Rally Bright, Mile Marker, Arbit, Everywhere Communications, InferCabulary, Live Chair Health, and Hustle Clean. Two graduates were recently named to Governor Hogan’s Maryland Future 20 Startup Companies list. “FounderTrac is a beacon that highlights our region as a hotbed of innovation supported by a strong community of experienced entrepreneurs and investors,” said Ben Birge, CEO of the Anne Arundel Economic Development Corporation. “We are proud to be a partner in this effort to help these fledgling businesses grow so they can ultimately create jobs and enrich our economy.”

Notably, FounderTrac is proud that more than 60% of graduates have been from under-represented populations. Previous FounderTrac demo day winner Andrew Suggs of Live Chair Health received investment and re-located the business to Maryland. He has been featured in CNN and US News and World Report, and has landed pilots with a major healthcare system and payer in Maryland. Quoted in Technical.ly by Stephen Babcock, Baltimore Ravens running back turned entrepreneur Justin Forsett who flew his team to Maryland from California and Texas each week for the program said “I was looking for a founder-friendly program that was going to help us scale the business and raise capital. FounderTrac absolutely helped me move the business forward. I’m a better businessman because I went through the program.” Justin received investment from the FounderTrac network, experienced hyper-growth since the program, and was featured in Forbes Magazine.

FounderTrac Co-creator Jeff Mund says, “Pre-pandemic, we attracted companies like Hustle Clean and Live Chair to Maryland, and those businesses benefited from capital, industry and community collaboration. On the virtual platform, FounderTrac helps ecosystems nationwide connect the dots and helps companies innovate and drive positive social change. As the audience of founders, mentors, ecosystem builders, and investors widens, we are already seeing some compelling network effects.”

Interested startups can get more information and apply by filling out an application at FounderTrac’s website https://www.foundertrac.com/

The organizations involved

LAUNCH! Annapolis

A 501(c)(6) non-profit organization that supports a community of 2000+ entrepreneurs, innovators, and startup investors. We connect entrepreneurs with resources by hosting educational, networking, and social gatherings while pursuing initiatives to support innovation and high-growth startups in the state’s capital.

Anne Arundel Economic Development Corporation (AAEDC)

AAEDC’s mission is to support business and serve as a catalyst for business growth in Anne Arundel County thereby increasing job opportunities, expanding the tax base and improving quality of life. Anne Arundel Economic Development Corporation provides investment and technical assistance and fosters community revitalization initiatives. They play a vital role in enhancing commercial districts, improving county infrastructure, increasing agriculture-based business and promoting high-value business sectors such as technology and national security.

FounderTrac

FounderTrac is a startup studio based in Annapolis Maryland. FounderTrac invests in startups and helps build high growth businesses by leveraging the accelerator model via the FounderTrac Virtual Accelerator Platform (FTVAP). FTVAP is the most holistic, fully integrated platform in the industry; incorporating proprietary assessment algorithms, business tools, mentorship frameworks, and investment tracking. FounderTrac identifies the nations top startups, measures their synchronicity and metabolism, helps them eliminate waste and risk, and generates distilled deal flow.