SpringBox Labs Accelerator is All About Access to Capital
Access is a big reason that entrepreneurs locate their startups in TechColumbus’ SpringBox Labs accelerator.
- Access to newly outfitted office and meeting space and a great address.
- Access to a professional, turn- key business environment at affordable rates.
- Access to the benefits and buzz of being located right next to TechColumbus’ venture advisory teams.
- Access to an office neighborhood full of other creative entrepreneurs.
- Access to the leaders and investors in this region who are in and out of 1275 Kinnear Road every day.
And then there’s access to capital—often the access that matters most to entrepreneurs.
Consider these results.
Seventy-two of our 160 engaged startups raised $64 million in capital. The average amount of capital raised by those portfolio companies was $400,000.
Now, consider the results of just the SpringBox Labs companies in that cohort.
Those firms raised $1.075 million on average. That’s 2.7 times more than the capital raised per round by companies that are not resident in our facility.
Access to risk capital can have an enormous impact on a startup. Our portfolio companies that raised capital had an 83 percent higher payroll, 58 percent more revenue, and created three times more jobs.
And access to capital helps SpringBox Labs target a churn rate of around 25 percent.
Most business don’t want churn, but when it comes to the accelerator, we (and the companies that reside there) do. It doesn’t help startups accelerate when they get stuck in “incubator” mode.
So our goal is to provide the expertise, connections, and capital that helps entrepreneurs accelerate on and out.
As graduated companies mature and grow more new companies just entering the startup pipeline take their place, gaining the advantages of SpringBox Labs.
There are lots of reasons that SpringBox Labs is the ideal home for startups in their earliest stage of development.
Now we can add access to capital to the list.