IDEA is a student-run venture accelerator.

that provides a variety of resources to Northeastern affiliated entrepreneurs who are looking to launch their own businesses. Throughout the stage-gate process we provide ventures with coaching, mentoring, in-kind services, business planning framework, and the opportunity to apply for our Gap Fund.

 

READY

Ready is the first stage in IDEA’s business model process and is where ventures submit their value propositions, are paired with a coach and begin working on their business plans.

This stage is critical in the development process, as founders will speak with potential customers, solidify their target market and potentially pivot their business plan. This stage is also where each venture will figure out the problem their business is solving and how it will fit into the market.

The Ready stage provided a systematic way to translate my rough ideas into the foundation of a sustainable business.

— Gavin King, Tackboard

SET

In the Set stage, ventures further evaluate their business model, learn how to acquire customers and research the cost of doing so.

They dive deeper into the problem they are solving and discover how they will make money off of their solution. Ventures are also introduced to IDEA’s Mentor network that is made up of industry professionals who provide their expert opinion on a variety of topics. In addition to mentors, IDEA also provides its ventures with access to service providers such as law firms and accounting firms that offer in-kind services to help companies grow.

The response I received from investors following my pitch was very encouraging.

— Toju Ometoruwa, Pickasound

GO

Go, the final stage, is where ventures begin figuring out their financial structure, they talk to potential investors and have the opportunity to apply for IDEA’s Gap Fund.

At this point, grants from the Gap Fund allow ventures to grow through substantial milestones of building their business. In this stage, ventures are also connected to members of IDEA’s investor network to secure angel and seed funding to take their company to the next level. Companies are considered launched when the have raised a significant amount of capital, have entered another accelerator program, or are self-sustaining

RECENT NEWS

Novo App: Speed and Ease for Bartenders and Bar-Goers Alike

December 18, 2014

The team wanted to build an interface that would be accessible for the customer on his or her phone and for the bartender on an iPad, behind the bar. Alexis, Luca and Gaia met with a developer to flesh out exactly how the app would function. They called it Novo.

Derivative/d Helps New Grounds Food Produce their Kickstarter Orders

December 11, 2014

Riding the wave of amazing campaign, the team’s main goal is now to fulfill the orders that helped land them as the second most funded vegan campaign ever on Kickstarter. To do this, New Grounds Food has teamed up with a pair of Northeastern alums, Praful Mathur and James Steinberg, and their company Derivative/d, another IDEA venture.

Friday 5: Ventures to Watch in 2015

December 5, 2014

As 2014 comes to a close, we look toward the future and what it holds for our ventures. From product launches to funding rounds and beta tests to website designs, every year presents new opportunities for our ventures and next year is no exception.