Phase 0: Application & Interview
Aug 3-24, 2020 (NEW)
Phase 1: Sales Acceleration Method
Sep 14-18, 2020 (NEW)
Sep 28 – Oct 2, 2020 (NEW)
Phase 2: Guided Coaching
Oct 12-23, 2020 (NEW)
Phase 3: Best Practices + Investor Night
Nov 2-13, 2020
Who is this program for?
Founders of tech enabled startups that have already launched but have not yet found Product Market Fit.
How does the program work?
Startups that apply and are accepted into Phase 1 are not guaranteed to participate in Phases 2 and 3. Top performing startups from each phase are invited to continue on through the program based on specific criteria. See below for a description of each phase.
How much does it cost?
Participation is free of cost. There are no program fees and no equity is taken no matter what stage a startup completes. (If Phase 3 takes place in-person, any travel and lodging expenses are the responsibility of the startup.)
How do I apply?
Applications are now open. Apply here by 11:59pm EDT on Aug 24, 2020.
Phase 0: Application + Interview
Applications close at 11:59pm EDT on
Aug 24, 2020
We welcome tech enabled startups across all industries to apply. Startups interested in the program must fall into one of following two categories when completing their application:
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Pre-seed stage company – Has launched their product but has not experienced significant traction yet. Month over month growth is still unpredictable and inconsistent.
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Post-seed stage company – Has launched product and has traction. Month over month growth is consistently above 10%.
Application Process:
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Submit your application prior to the deadline
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Selected startups will interview with the Openeco team between Aug 3-27
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Startups selected to participate in Phase 1 will be notified by end of day Aug 28
We will review applications on a rolling basis. The earlier you apply, the sooner you’ll know if you have made it through to the interview stage.
Phase 1: Sales Acceleration Method
Sep 14-18, 2020
Sep 28 – Oct 2, 2020
All lectures and office hours will take place virtually
Openeco will use the following criteria to determine which startups will be selected to join Phase 1:
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What your company does, how big the addressable market is , and how much traction you have
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The secret sauce that makes you unique, how you make money, and your team dynamic
Phase 1 is designed to help startups refine their growth plans. Accepted startups will participate in a five-day intensive training that will cover:
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Jobs To Be Done
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Target Customer Segments
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Value Proposition by Target Customer Segment
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Buyers by Target Customer Segment
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How to Reach Buyers by Target Customer Segment
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What Story to Present to Buyers by Target Customer Segment
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How to Activate Buyers by Target Customer Segment
Deliverables are assigned at the conclusion of every lecture so startups can put what they learn into practice. Startups work with resident mentors to complete their deliverables. At the conclusion of the five-day training, startups will have a complete deliverable workbook outlining their plan to accelerate growth.
Phase 2: Guided Coaching
Oct 12-23, 2020 for all selected companies
All growth meetings will take place virtually
Top performing companies from Phase 1 will be selected to join Phase 2. Openeco will use the following criteria to determine which startups from Phase 1 will be selected to join Phase 2:
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Understanding of Jobs To Be Done
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How each part of the Sales Acceleration Method is addressed in the deliverable workbook
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Team dynamic
Phase 2 is designed to push startups to rethink their operating assumptions via rigorous experiments. Accepted startups will participate in weekly Growth Meetings with their assigned resident mentor. They will use this time to set weekly goals, define growth experiments, review results, and receive coaching on the performance of their growth experiments. At the conclusion of Phase 2, startups will have a log detailing each of the growth experiments that they ran and how they performed.
Phase 3: Best Practices + Investor Night
Nov 2-13, 2020 for all selected companies
Our hope is to run Phase 3 in-person in Miami, however, we may host all lectures, office hours and Investor Night virtually
Startups will be notified as early as possible if the program will take place in-person or virtually
Top performing companies from Phase 2 will be selected to join Phase 3. Openeco will use the following criteria to determine which startups from Phase 2 will be selected to join Phase 3:
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Successful implementation and tracking of at least three (3) growth experiments during Phase 2
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Percentage of user and/or revenue growth during Phase 2
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Team dynamic
Phase 3 will provide the best of the best startups with the polish they need to propel forward and attract funding. Accepted startups will participate in a 10-day training that will cover:
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How to raise money
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How to find investors, what story to tell them, how to negotiate with them, and how to legally set up your round
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Marketing
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Marketing channels, how to write marketing content, and referral based marketing
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Sales
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Prospecting, qualification, and how to close a sale
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Openeco will also provide accepted startups two opportunities to interact with potential investors:
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Phase 3 startups will film a two-minute pitch that will be shared among Openeco’ network of investors via a digital demo day on Nov 12 (see our Batch 26 digital demo day which attracted 1,100+ accredited investors)
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Following demo day, investor night on Nov 12 will convene potential investors and Phase 3 startups under one roof