The monthly nominations will be selected for presentation on a monthly competition date (normally the 28th of each month), and the nominations will be selected from the list of submitted startups through this website.
Once all nominations for a given month are acquired, the selection process will be completed by a trusted board of advisors featuring some of PA’s top business consultants and tech startup advisors.
From the list of submitted startups, finalists will be notified and invited to present a 15-minute presentation to the board of advisors on a monthly competition date (again, normally the 28th of the month, unless otherwise scheduled). Following the presentations, the board of advisors will decide which startups to pursue, with a time period of 1 week made available for the advisors to follow up with questions and research.
Following the presentations and Q&A period, 2 Early Stage Startups and 1 startup with a Minimum Viable Product will be awarded admittance into the program each month.
The Netrepid Virtual Incubator utilizes a monthly “rolling” admission process – so startups are encouraged to re-apply for a following month if they are not selected following their initial submission.
Once the selection process is complete, all enrolled startups will have access to mentoring provided or coordinated by the board of advisors. The Virtual Incubator Program is a 12 month period upon which time graduates will have continued access to technology powered by Netrepid at free or reduced fees until their business achieves positive Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA).
In order to remain eligible for the program, each startup must commit to meet with a board member at least once a quarter for updates on product development and financials.
Upon graduation from the program, enrolled startups must also commit to volunteer time and resources back to future enrollees. Remember, we are here to build a startup ecosystem in Pennsylvania – not just to help build your own startup!