The Venture Accelerator takes the concepts of the Accelerate Success Program to an even higher level. A much higher level!
This program combines the latest “best practices” in venture development and venture philanthropy. And, Dave Carpenter volunteers even more of his time to assist gifted entrepreneurs in building mega-businesses, which can then become the means by which talented entrepreneurs can give eight figure donations to their favorite charity(s).
Although Dave receives absolutely no compensation for his assistance (i.e., no stock, no consulting income, no compensation of any form), he expects a very high return for his investment (of time) by way of the entrepreneur making a very large donation to their favorite charity(s) once the success of the venture has been established and there has been a major liquidity event for owners. As a result of this high ROI threshold, admission to this program is very strictly limited. This program is exclusively for (1) exceptionally talented and philanthropic entrepreneurs, (2) with a very deep passion for their venture, and (3) with a venture that has very significant potential.
To be admitted to this unique program, the entrepreneur’s venture must have the potential to achieve an enterprise value of at least five hundred million dollars in three, no more than five, years after the first round of financing. And, such valuation must be supportable by a documented exit plan that includes at least two exit strategies that are not dependent on any temporary stock market exuberance.
So that Dave can devote adequate time to mentoring these program entrepreneurs, especially during the formative stages of development of their ventures, Dave limits himself to mentoring no more than four companies in the formative stage, at any one time. Program participants are advised that they, and their venture, must demonstrate continual rapid progress or they risk being dropped from the program. (Bumps are to be expected in any development process, but program participants are expected to quickly navigate the bumps, learn from the experience and continue on.)
The Venture Accelerator program consists of three components. These talented entrepreneurs:
- Take the same educational program as participants in the base Accelerate Success program,
- Participate in a weekly MasterMind experience with fellow entrepreneurs (each building a $500+ million valuation company), and
- Are mentored very closely by Dave Carpenter on a one-on-one basis.
Among the areas on which Dave will be working with these entrepreneurs are:
- Pivoting a very good idea into a great idea that can support quick evolution to a very large business,
- Developing a compelling business plan in the format expected by sophisticated investors,
- Developing credible, detailed financial projections and a reasonable capital plan,
- Providing guidance on the process for raising the multiple rounds of capital needed with a very rapidly growing business,
- Crafting an exit strategy that will be attractive to investors,
- Identifying means of protecting the venture’s competitive advantages from replication by others,
- Attracting an impressive and effective Board of Directors and senior management team, and
- Introducing the venture to the right professional service providers (e.g., lawyer, accountant, investment banker, etc.)
In this program, entrepreneurs receive the kind of assistance provided by top notch venture capital firms beyond the financing they provide). Such assistance is also comparable to that provided by some venture angels, for which they commonly take a 6-8% equity stake (exclusive of any ownership resulting from funding they might provide). As previously described, neither this program nor Dave Carpenter takes any ownership stake — or any other compensation — for providing entrepreneurs and their venture with comparable assistance. Instead, it is expected that the entrepreneur will make an eight figure (or larger) donation to their favorite charity upon the occurrence of a significant liquidity event.
This program is not appropriate for most start-ups. But, if you believe that you have a business with awesome potential — especially if you had the right mentoring assistance, we encourage you to review the Frequently Asked Questions about the Venture Accelerator. If you have a business with excellent, but more modest, potential, you and your business could benefit by participating in the Accelerate Success Program where you would be put in a MasterMind Group of other entrepreneurs.