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University Park, Pa. – This spring, Happy Valley LaunchBox, powered by PNC Bank, will offer two no-cost startup programs, providing community and Penn State entrepreneurs with resources and guidance to help them turn their business ideas into scalable businesses.
Idea TestLab applications open on January 3, 2023.
The FastTrack Accelerator is accepting applications until January 6, 2023.
Elizabeth Hay, Jack White Family Director of Happy Valley LaunchBox, said, “The Idea TestLab is great for anyone with an early stage idea to meet potential customers and learn how their business can deliver unique value. “FastTrack Accelerator is great for startups that have already gone through that validation process and are now ready to build a viable plan to launch their business.”
Applications for both the Idea TestLab and FastTrack Accelerator are open to community entrepreneurs and Penn State students, faculty and staff.
Idea TestLab – Applications open on January 3
Idea TestLab is a four-week program designed to help teams evaluate the feasibility of their business ideas. Teams are trained in customer discovery and problem analysis techniques to identify the problems their customers have and the value others cannot provide.
The Idea TestLab application window opens on January 3 and closes on January 24. No Penn State affiliation is required to apply. Teams meet as a group once a week for four weeks in February.
As part of Idea TestLab, participants will receive:
During the program, participants will identify existing solutions, understand where they fall short, and define the value that the participant provides that others do not.
FastTrack Accelerator – Apply by January 6
The FastTrack Accelerator is a 10-week program that helps early-stage startups better refine their target market, research the market, and develop an actionable plan to acquire customers or expand their business. At the end of the program, participants will compete in a pitch competition for a chance to win up to $5,000 for their business.
No Penn State affiliation is required to apply. The founders retain all rights to their ideas, and there is no cost to participate in the program. The program runs from mid-January to mid-March.
As part of the FastTrack Accelerator, participants also have:
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1-on-1 mentoring.
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Funding for an intern for one semester through the SEDTAPP ENtern program.
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One year subscription to SolidWorks and io plug-ins.
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Access to over 60 consultants and experts.
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24/7 access to the Happy Valley LaunchBox with space in the team room.
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Up to $1,500 to conduct market tests through the Market Test Fund.
At the end of the program, teams will establish a formal business organization, develop a unique value proposition, define a viable business model, and create a marketing and sales plan.
Recent FastTrack Accelerator participants include Basketball Today, Eartrainer and VertaWorks.
About Happy Valley LaunchBox Powered by PNC Bank
Happy Valley LaunchBox, powered by PNC Bank, provides startups with the support and resources they need to build a sustainable and scalable business and a viable plan for growth. No-cost programs and services include co-working space, accelerated programs, legal and intellectual property advice and professional advice from Penn State’s extensive network. LaunchBox is open to everyone – community members and those connected to Penn State. Happy Valley LaunchBox is a signature program of the Invent Penn State initiative powered by PNC Bank and is one of 21 innovation spaces located in Penn State campus communities across Pennsylvania.
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