Texas Tech University

Texas Tech Accelerator

demo day fair

The Texas Tech Accelerator launches startups based on technologies discovered and developed in Texas Tech research labs. The program combines cutting-edge inventions discovered in research labs with entrepreneurs, students, inventors, experienced mentors, collaborative office space, and an intensive curriculum based on the Lean Startup Methodology to launch new companies and move inventions from the lab to the market.

Participants in the Texas Tech Accelerator are selected through a competitive application process. Through the four-month program, teams of students and entrepreneurs work alongside inventors and mentors to launch a new venture based on current Texas Tech technologies. The program begins in January and culminates in May with a presentation at Demo Day to an audience of venture capitalists, angel investors, and business leaders. Texas Tech Accelerator is designed to help launch new startup businesses.

Texas Tech Accelerator teams are expected to consult with the technology's inventor through the process.

How to Apply

Applications are accepted each fall semester for the accelerator program. Students, faculty, alumni and community members are welcome to apply.

Entrepreneurs

If you are an aspiring entrepreneur that has ever wanted to start your own company but didn't quite have the right idea to run with, then the Texas Tech Accelerator is for you. In our program, you will have access to over 50 cutting edge technologies developed in university research labs, access to collaborative work space, mentorship from top industry experts, and provided a model to help you raise venture funding to start your business.

To get started:

First, browse the Intellectual Property Portfolio to get a sense of which technologies interest you. If you see a market application for one or more of the technologies, brainstorm how you might commercialize it.

Form a team. While you can apply as an individual, we recommend that you apply with a team or a partner. Startups are generally a "team sport" and in some cases there may be more than one person interested in commercializing the technology. Try to form a team that will become a startup founding team upon successful acceptance into the program.

Apply online.

If you do apply with a team, each person should submit their own application.

Students

Texas Tech University students can apply for the Texas Tech Accelerator under the student track. Our program provides students with a real world entrepreneurial experience and provides students with the tools to launch and successfully operate a high-tech startup. If selected for participation in our program, students are compensated with two stipends throughout the program.

To get started:

First, browse the Intellectual Property Portfolio to get a sense of which technologies interest you. If you see a market application for one or more of the technologies, brainstorm how you might commercialize it.

Form a team. While you can apply as an individual, we recommend that you apply with a team or a partner. Startups are generally a "team sport" and in some cases there may be more than one person interested in commercializing the technology. Try to form a team that will become a startup founding team upon successful acceptance into the program.

accelerator mentor discussion

Apply online.

If you do apply with a team, each person should submit their own application.

Mentors

Mentors are essential to the Texas Tech Accelerator, providing valuable feedback and guidance to entrepreneurs and students in the program. If you're interested in serving Texas Tech and the Lubbock community in this way, please contact Ryan Reber.

Demo Day

Demo Day is the culmination of the four-month program. It is a regional showcase for Texas Tech Accelerator start-ups and regional ventures in a "shark tank" type setting where each company will have 10 minutes to pitch and present their business. The audience will include: venture capitalists, angel investors, local business leaders, alumni, and other community stakeholders. One team will also walk away with a trip to a major entrepreneurial hub like San Francisco, CA, Austin,TX, or New York,NY.

Demo Day 2014 from Innovate Texas Tech on Vimeo.

Frequently Asked Questions

Do I need to leave my full time job if my management team is selected for Texas Tech Accelerator participation?

No. Obviously, the more time you spend advancing your startup, the higher your chances for success. However, we understand that you may need to continue to work during the four-month acceleration period.

How do I obtain more details about a specific technology or request a meeting with the inventor?

Send the following details regarding EACH technology to Ryan Reber (one email per technology). Include the following information:

  • Research Institution:
  • Technology Title:
  • Case # (if available):
  • Management Team Overview (briefly describe the core members of your founding team):
  • Business/Market Opportunity (briefly describe the identified need/fit for this technology within the market):
  • Specific questions for the Technology Transfer Officer (TTO) or inventor about this technology:
  • Management Team Leader Contact Info (name, email, and phone):

Once received, the Texas Tech Accelerator team will provide the necessary information.

Can our management team apply to commercialize more than one Texas Tech Accelerator technology?

Yes. Your team may bundle one or more technologies together in order to strengthen your venture's commercialization strategy. Likewise, your team may submit as many Texas Tech Accelerator applications as you'd like for multiple ventures based on disparate technologies.

Do I need a business plan to apply for the Texas Tech Accelerator?

Our program is not a fit for you. Our focus is to form companies around existing inventions developed in university research labs. However, since we work with entrepreneurs and startups all the time, we are happy to meet with you to determine if we could help you commercialize your own idea.

What kind of time commitment is expected in this program?

You get out of our program what you put into it. We provide you the opportunity to create your own company and therefore you have to decide how hard you work. That being said, students participating in the program that receive a stipend are expected to spend at least 15 hours per week in our program. We stress the phrase at least. All participants are expected to make all required events throughout the program which run weekly from January to May.

What type of mentorship will I receive?

We have a large network of industry experts including: investors, entrepreneurs, consultants, CEO's, lawyers, marketing and branding experts, CFO's, etc. You will have access to our mentor network as you work to commercialize a selected technology.

Will I have the opportunity to work with the inventor of the technology that I select or get paired with?

Yes, absolutely. Inventors of each technology are highly motivated to see their inventions get commercialized.

Does the Texas Tech Accelerator provide any funding to help form the company?

We do not at this point in time, but we are actively engaging with sponsors to provide startup funding for our Texas Tech Accelerator companies. What we can commit to is providing each company with an audience of investors to be able to pitch their company for investment?

Do I get course credit for this program?

Sorry, we do not offer the ability to get course credit at this time.

How much do I get paid as a student?

It depends on how many students we end up selecting to participate in the program. A good average to assume is $500 for full participation in the program.

I live outside of the state or region can I apply to the Texas Tech Accelerator?

Yes, we accept applications from anywhere in the world, assuming you and/or your team involved could temporarily relocated in the region for the four month acceleration period.

 

 

 

Office of Research Commercialization