TechLaunch re-emerges with a whole new process

After 18 months on hiatus, accelerator TechLaunch will be re-emerging into New Jersey’s tech ecosystem, founder Mario Casabona announced, as it begins accepting applications from startups Wednesday.“The reason I put TechLaunch on hiatus mode was because I didn’t see the quality applications to merit investing, even at the accelerator level,” Casabona said. “So, I said, ‘I’ve got to think about this and do a little bit more research and come at it from a different point of view.’”

Based on that research, Casabona said, the new program brings with it a streamlined model to better suit entrepreneurs and investors.

“How do I improve the quality of the deal flow and prepare these entrepreneurs for the investor due diligence process?” he said. “Putting those factors into the equation, what model can I live with?

“That’s how I came up with the BullPen model.”

The BullPen model, with Casabona calling it “accelerator lite,” is a monthly series of pitch events where three or four tech companies will present to an audience and a mixed panel of investors, at a university location in the New York/New Jersey metropolitan area.

“I’m looking for three to four companies,” he said, “and — if we like what we see — then we’ll invite you to present at the BullPen.”

The first event is slated for mid-January 2017 and will have a focus on companies whose technology integrates with the growing Internet of Things.

The events will be held monthly and, while the application process is ongoing, Casabona said the accelerator needs roughly a month to process the applications.

The companies he’s looking to consider are beyond the level of those typically looking to apply to accelerators, as this program won’t offer all the services of a typical accelerator.

“We are focusing on early-stage companies that either already have a minimal viable product or are in the process of creating one and are looking to grow or secure investors,” he said. “It may be as simple as helping them perfect their pitch or perhaps assist in some core business strategy which may have eluded them until that point.”

To apply to the program, visit the TechLaunch website.