Flywheel Partners with Startup Factory of Durham for Unique Bootcamps
Flywheel is teaming with serial entrepreneurs, investors and The Startup Factory co-founders Chris Heivly and Dave Neal to create a center of gravity for entrepreneurship in Winston Salem. Beginning this summer, TSF will operate one week Startup Boot Camps around the state starting in Winston Salem, which will both encourage and accelerate early-stage startup activity.
“Our expansion plans will substantially raise the profile of the state’s entrepreneurial scene, placing us in the top echelon of startup states,” said Chris Heivly, TSF managing director. “Founders, investors and community leaders alike will materially benefit from our program.”
TSF has operated for four years in Durham as the leading seed investor/mentor program in the Southeast United States. TSF has invested in 35 companies, putting over $3.5 million into play, in which 75 percent of those companies originate from North Carolina, and the remaining 25 percent move to North Carolina for at least three months. Follow-on investment capital is one of the more difficult challenges of a startup. However, 64 percent of TSF companies received funding totaling over $17 million, which is more than double the national average for entities like TSF. In addition, ongoing TSF companies have added over 100 new hires to their staff.
“Our state has some of the most vibrant emerging entrepreneurial communities in the nation,” noted Dave Neal, TSF managing director. “We see a great opportunity in Winston Salem at Flywheel for building on the success of our current program. By partnering with Flywheel and its initiatives, we can deploy the depth of our experiences and our extended network of successful advisors and experts to put some real muscle behind promising ventures. We expect to help launch 50 or more promising startups over the next five years just in Winston Salem.“
The first TSF Boot Camp at Flywheel will run from Aug. 3 through Aug. 7. The TSF team, working with Flywheel and its community partners, is poised to bring decades of experience starting, scaling and coaching early-stage companies.
“Bringing The Startup Factory’s track record to The Innovation Quarter and Flywheel is an incredible opportunity for the area. This bootcamp gives Triad Region startups the chance to get in the room for a week with the most successful accelerator in the Southeast. It’s a door-opening opportunity.” said Peter Marsh, Flywheel founder.
Companies can apply now for one of the limited spots in the first boot camp, which will run in Flywheel Winston Salem’s co-working space in Wake Forest Innovation Quarter. Applications will be open until July 12 atwww.thestartupfactory.co/bootcamp.