Phoenix-based social enterprise startup incubator Seed Spot has picked Washington, D.C. to host its second space, adding to area's offerings as a hub of social entrepreneurship. Seed Spot's programs are built around helping people trying to turn an idea to improve the world into a viable startup.
"D.C. bubbled to the top of our list for next locations pretty quickly," said Seed Spot co-founder Courtney Klein in an interview with DC Inno. "D.C. is an epicenter of change and impact, and there's a burgeoning community that adds value to our presence there."
Seed Spot runs a mix of accelerator programs, with entrepreneurs able to sign up for five-day, 12-week or 15-week program, priced at $750, $1,000 and $3,500 respectively. In Phoenix, nearly 300 startups have gone through one of the programs, and four-fifths of them are still operating. Which program to take just depends on the entrepreneur, the startup and how far along they are.
"You don't have to come with revenue or a complete business to sign up, and we don't take any equity. We charge because we insist [startups] have some skin in the game," Klein said. "You can be anywhere from an idea on the back of a napkin to pre-revenue. We see ourselves as a bit of a pipeline to others in the area. We're a catalyst for entrepreneurs."
Seed Spot will have three full-time employees in D.C., but is partnering with Booz Allen Hamilton for the new D.C. setup. The idea is to leverage the consulting giant's connections in the D.C. area to rapidly grow Seed Spot's presence in the District. Booz Allen will also provide mentors to Seed Spot members as title sponsor of Seed Spot's D.C. operations.
"D.C. is an epicenter of change and impact."
"[Booz Allen] was really interested in helping grow the social entrepreneurial ecosystem," Klein said. "Our partnership unfolded from there pretty quickly. They have amazing access to the government and other [resources] for startups that are scaling."
Seed Spot joins a growing number of incubator and accelerator programs catering to social enterprise in and around D.C. Halcyon House and Impact Hub are built around accelerating and supporting social startups, and social enterprise startups are prominent members of other startup communities, like GoodWorld at 1776. Seed Spot's first program, a 15-week full-time program, starts in April with the deadline for applications March 1.
