RIoT recognizes an enormous opportunity to multiply the positive impact of its efforts by formalizing a RIoT Accelerator Program (RAP) to further build a robust support structure around companies and Intellectual Property that is subsequently commercialized and taken to market.
The RIoT Accelerator Program (RAP) facilitates entrepreneurship end-to-end from academic research and education through to rapid commercial growth. RAP increases the impact of traditional accelerator programming by partnering startups with an industry consortium of more than 60 companies across the IoT value chain. Industry seeds the accelerator with market-driven problems they are motivated to solve through entrepreneurial partnerships. Partners provide access to complimentary resources and seed investor capital necessary to launch new products and services to market.
Introduces startups to industry partners and customers
Provides access to an engineering prototyping lab and tools
Connects teams to the full IoT ecosystem of government, academic and industry collaborators
In 4 years, RIoT has worked with 40 companies that have collectively raised over $275M and created more than 400 jobs in NC. The recent EDA grant recognizes the opportunity to leverage this momentum via a formal accelerator program.
Who Should Apply?
RIoT has successfully supported numerous startups since inception, many of which would not be considered traditional IoT companies. RAP seeks innovative companies and entrepreneurs with great ideas that may or may not fit into the classic IoT framework.
RAP is agnostic to stage. Whether you have been working as a startup for a while, are a motivated entrepreneur or are a company looking to start a project independent of the company structure, please apply.
RAP focuses on market demand, which is a critical selection criteria. Good applications demonstrate market demand is strong and timing ideal.
RIoT also partners industry-driven projects to talented entrepreneurs. Sponsor projects are un-met market opportunities, often with revenue expectation of $100 million annually or above. These projects need teams and complimentary technology and applicants are encouraged to apply to join a team.
Team size requirement: 2 full time preferred, 1 full time minimum.
Must be available to participate full time through the 3-month program. Content is a mix of required and optional programming and dedicated time to work on your company.