Have an outdoor startup you want to get off the ground? Bend Outdoor Worx, Central Oregon’s outdoor industry accelerator, is on the hunt for companies to join its pending third session.
BOW is accepting applications now through July 27.
BOW focuses on providing fledgling local companies — and outdoor industry companies that would like to move here — with mentorship, infrastructure, related resources and industry connections. Cairn (one of our #50startups!), Homeschool Technical Apparel, Free Range Backpacks, Slackline Technology, and the Robert Axle project have all participated. In fact, the latter two recently started the program.
The accelerator was launched in 2014 by Gary Bracelin, a long-time Bend resident and outdoor industry expert, with partners Eric Meade, Rick Fredland, Justin Rae and Will Blount. The five founders represent various skill sets and a multitude of experience with successful organizations.
Each cohort includes up to three companies. And they receive 12-months of guidance from BOW mentors. Per the BOW website, they also receive:
- Accounting and legal work (pro bono and very competitive rates after).
- Access to outdoor specific and consumer goods interested investors.
- The promise that we will steer you clear of half-ass consultants and people who just see dollar signs when they look at start-ups.
- Specific introductions and referrals to niche experts in your field, or ones relevant to your business issues.
- A core group of mentors 3-5 per cohort that will attend each session.
- Expert and Industry specific partner advisors that will come in for individual sessions based on individual company need and benefit.
The program doesn’t give companies money. They do ask for a 6% equity stake in the form of a 10-year warrant in exchange for their help.
From the website again:
We take 6% of your equity in the form of a 10 year warrant. Therefore, our payment only occurs if you make something out of yourself. We will review and negotiate the actual warrant agreement upon acceptance into the cohort. Rest assured that the terms of our agreement actually favor the entrepreneur…as entrepreneurs ourselves we felt it important to be a partner of our cohort companies and not just an equity holder.
You can reach Kelly by email at [email protected].
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