BIC Stage 2 Accelerator
The BIC Stage 2 Accelerator is a 35-week hands-on and results-oriented program designed to serve early-stage tech startups that are building a physical product and moving toward the manufacturing phase.
With the BIC Stage 2 Accelerator, we added structures to crystallize and expand our current offerings so that we can provide the full range of BIC resources to more entrepreneurs. The program will continue to leverage our existing strengths and assets and will be an opportunity to increase access, expand our partnerships, and activate more of the connections that we have built over the last four years.
The BIC Accelerator Program is made possible through the generous support of:
Meet the Companies
MacFarlane Medical has developed a revolutionary wearable insulin delivery device that leverages proprietary technology to deliver insulin in a faster, more comfortable, and less resource dependent way than existing options.
Noble Carbon is seeking to revolutionize the way electricity grids are managed using their proprietary smart circuit breaker technology. Their solution allows them to provide a resolution of demand data that was previously unavailable to utilities and grid managers.
The Program Objectives
Capture new startups referred to us from our industry members, university partners, and fellow economic development organizations and take them from an early prototype to a first industrial series, complemented with market validation, and a growth strategy.
Build a highly prestigious and competitive program that attracts and retains talent, increases access to elite programming, and becomes an engine for continued economic development
Promote the region's tech entrepreneurial ecosystem, strengthen the role of the industrial sector & improve our overall competitiveness.
The Accelerator will be a 35-week program that runs from September 2023 to May 2024. Awardees will receive a dedicated workspace at the BIC and will have full access to our labs, advanced equipment, digital media studio, and our internal team of subject matter experts.
The firms will also participate in our BIC Manufacturing Academy (BMA), a comprehensive training, leadership, and human skill development program built in partnership with MIT, the Mass Tech Collaborative, and our regional industry partners, and field by the US Department of Commerce, and will receive training specifically geared toward rapid growth enterprises curated by our Chief Learning Officer. Firms will be also paired with screened interns from our local and regional academic partners. Programming will be both in person and hybrid, and will end with a DemoDay.
​
Firms will be selected through a competitive application process that will be overseen by a diverse review committee.
This Stage2 support, provided from BIC staff and curated from the BIC network, will help the firms:
Reach a manufacturing-ready stage with their physical product
Find market validation with pre-orders, commitment letters, or paid pilots
Develop a balanced leadership team
Build a public and private fundraising strategy
Develop a phased-strategy for growth
Specifically, startups will be coached through the following
Market Mapping and Operations Strategy: Identify the existing and/or anticipated market for their IP, refine their product to an MVP, evaluate potential market segments, create a viable go to market strategy, identify and collect a potential customer base
Product design process: Perform an engineering review to address strengths and weaknesses of initial design, assist in refining prototypes, evaluate manufacturing possibilities, produce a proof of concept.
Digital Media Production: Work with BIC studios to produce audio, video and still photo content. Refine the “story” of their product. Learn to highlight value and generate interest through marketing.
Peak Speaker Series: Monthly meetings with successful startup founders to learn from proven examples in a small group setting.
Guidelines for Participation
Preference will be given to firms that meet the following:
01.
Hardware-Based
Sectors might include: Life Sciences, Medical Devices, Climate Technologies, Robotics & Automation, Aerospace and Defense, and Advanced Manufacturing, among others.
02.
Massachusetts-Based
03.
Full-time committed team
We are seeking ventures with more than one member, and that the team be committed full-time.
04.
Prototyping Needs
We are seeking firms that can best leverage our prototyping capabilities.
05.
Incorporation
The company does not need to be legally established at the time of enrollment, but we are looking for the company to be on that path by December 31, 2023.
The Application
Those interested in participating in the program must submit a letter of interest and an accompanying slide deck. The deck should consist of no more than 10 slides, and should include the following information:
-
General details of the venture
-
Problem definition
-
Overview of the product and the market
-
Summary of the innovation and the technology readiness level
-
Funding track record and needs projections
-
Applicable intellectual property
-
Team description
The letter of interest should speak to the value you see in the program, the ways in which you see the Berkshire Innovation Center and the BIC network as able to help advance your venture, and your vision of where your firm will be at this time next year should you be selected to participate.
The letter of interest and slide deck must be submitted via email to ben@the-bic.org by June 30, 2023.
Selection Process & Application Criteria
We anticipate inviting four to five firms to participate in the 2023-2024 cohort. Applications are due on June 30, 2023. The selection committee will announce the startups invited to the Stage2 accelerator program on or before July 14, 2023.
The evaluation criteria used to select startups will include the following
Economic viability of the project and market opportunity
Technological advantage
Growth potential regionally and nationally
Potential positive impact on the local economy
Experience and engagement of the startup team
Presentation of the company plan
Applications will be kept confidential throughout the duration of the process. Dedicated space for invitees will be available starting in September 2023 and formal programming will begin on or about September 18, 2023.
PLEASE NOTE: This program is provided without cost to the selected startups and the BIC does not take any equity in the firms in exchange for the services provided.