Phase I training is taught from 8:30am to noon on the 1st Friday of each month.
Orientation required to attend Phase l.
The Goal of Phase I is to find a monetizable pain - a problem that customers are willing to pay for. It focuses on lean start up, customer validation, and proof of concept.
After completing the training, then doing your homework, applicants will have the opportunity to present their idea to the Coaching Forum. The Coaching Forum meets once a month on the 4th Thursday from 12:00pm to 1:00pm. It consists of any other companies currently participating in or considering participating in the Grow Your Business Accelerator Program. The Coaching Forum will judge your pitch on a scale of 1 to 10 based on the following criteria:
1. Did the team find a Monetizable Pain
2. Was the team Intellectually Honest in doing its research?
3. Can the Team Execute (e.g. Run and Scale a successful company)
View our Phase I Pitch Template
Any company can attend any training for any phase. To receive funding from USTAR, a company must be in the top 3 and receive over 70% approval from the crowd. Companies will also be scored by their homework and by the BRC Executive Committee. The combined scores of homework, pitching, and the BRC Executive Committee will determine who receives funding. USTAR has the right to Veto any funding decisions. Each company can have the opportunity of pitching twice for each phase for the grant money.
You must also meet the following criteria to receive Phase I grant funding.