FAQs and our responses.
What kind of companies do you fund?
We are vertically focused on companies that develop sporting goods and sports tech products, meaning that we are only interested in funding sports related companies. The companies that are accepted into our accelerator program generally have products that help to “keep you playing longer”.
How much funding do Black Lab Sports companies receive?
Black Lab Sports companies receive $20,000 in seed investment upon acceptance into the accelerator in exchange for 6% equity in the company.
What else does Black Lab Sports provide?
We provide office space, sports science facilities, internet access, and meeting spaces. The true value of Black Lab Sports, however, is the network of professional athletes and executive partners that participate as mentors and advisors during the accelerator program.
Why does Black Lab Sports need stock in my new company?
We believe that our accelerator program provides something rare in the sports world: a situation where both teams win. We take an equity stake in your company because we want to make a contribution that reflects that of a cofounder. Black Lab Sports will improve your chances for sustained success tremendously, and we’re dedicated to helping you thrive.
How can we get funded after Black Lab Sports ends? Will you help us with that process?
Black Lab Sports has extensive relationships within the venture capital community. The final four weeks of the program will be focused on preparing for ”Green Day”, an event held at the Boulder campus where you will pitch your product to prominent investors.
What is the timeframe of the accelerator program?
The Black Lab Sports accelerator program lasts 16 weeks and is split into four main components: 1) Product/Market Fit, 2) Channel Development, 3) Customer Acquisition, and 4) “Green Day” Preparation.
What does a typical day look like for the team of a Black Lab Sports company?
Black Lab Sports companies will be working towards perfecting their product-market fit and go-to-market strategy and execution every day. You’ll be working in our office space, testing your product with professional athletes at our sports science facilities, having sessions with our executive partners and mentors, and becoming immersed in the Boulder startup scene.
Does Black Lab Sports fund companies that have competing products?
We will not fund competing companies in the same accelerator session. Over time, it is likely that we will fund competing products in different sessions.
Can I apply if I’m not from the United States?
As long as your team can legally work in Boulder, Colorado for 16 weeks, you can apply. We encourage applications from everywhere around the world and see great value in diverse backgrounds.
Can I apply if our company or founders are not from the USA? Can you help with visa/immigration issues?
Yes, we accept applications from international candidates. Once you are accepted, we will use our contacts to help you obtain a visa to legally work inside the United States for the 16-weeks you are here.
I’m a single founder. Can I get accepted into Black Lab Sports, or do you only look for teams?
We are looking for strong teams. If you currently have a product but do not have a cofounder or team, we recommend searching far and wide to find the best people to fit your needs, desires, and culture.
Where will we live while we’re there?
The greater Boulder area has great opportunities for short-term living, and we’ll do our best to provide assistance in finding a place to live for your team while you are enrolled in the accelerator.
When will I hear back about my application?
We will notify applicants about decisions at least 1 month before program starts.
When is the next deadline to apply and what’s the overall timeline for that round of applications?
The deadline for the next round of applications is August 1, 2015. Decisions will be released by September 1, 2015. The program will be starting October 1, 2015.
Will intellectual property contained in my application be protected?
We understand that applications will contain innovative ideas and endeavor to respect the confidential nature of those ideas. However, we do frequently see applications with similar, independently developed ideas. Therefore, we are not able to provide NDA’s in conjunction with the accelerator program or applications.
How do you choose which companies to accept into the program and to fund?
We are looking for smart, hardworking people who inspire greatness in those around them and have a product that possesses great potential in its respective market.