Startup founders in the Seattle region have another accelerator option to help jumpstart their businesses.
Startup 425, a non-profit funded by six Seattle-area city governments, on Thursday announced a new accelerator designed for first-time entrepreneurs that need help validating an idea or raising capital.
The 15-week program is modeled after the Founder Institute curriculum, said Levi Reed, an entrepreneur-in-residence with Startup 425. There are some unique features, including a track for small business owners pursuing ideas that aren’t venture-scale.
The program is funded by Startup 425, so participating entrepreneurs don’t need to pay a fee or give up equity in their companies.
Startup 425 is a partnership between Bellevue, Kirkland, Redmond, Renton, Issaquah, and Bothell. The organization went on a hiatus during the pandemic but got going again last year. It offers monthly co-working programs; panel discussions; workshops; and networking events, in addition to the new accelerator.
Participating companies in the accelerator are required to live or be building their companies in one of the six Startup 425 cities.
Startup 425 prioritizes supporting entrepreneurs from underrepresented communities, Reed said.
Reed, who previously ran the Seattle chapter of Founder Institute, recently launched his own investment firm called Twig Ventures.
Startup 425 is hosting an “Eastside Summit” on Thursday at Bellevue City Hall as part of Seattle Tech Week.