Find out what it takes to become an NTEC member company
As our company roster indicates, we’re not partial to one industry or another. We welcome all emerging businesses and entrepreneurs that are looking for an initial boost or help taking their company to the next level, but we do want to make sure that we can help your organization and that it will enhance our community of member companies and the Frisco community at-large.
You don’t have to be from Frisco – or even Texas – to be accepted; but you should have plans to base your company here. It isn’t a contractual obligation, but contributing meaningfully to Frisco’s economy is at the core of our mission, so a desire to be in the area long-term is a big plus.
Broadly speaking, we’re seeking startups with innovative ideas, strong potential to have significant market impact within a reasonable time frame, a willingness to learn and the resourcefulness to put the support we provide to good use.
Beyond those high-level attributes, here are a few more-concrete things that we look for in applicants:
- Innovative and identifiable intellectual property
- Time-to-market within a two year target
- Preliminary business plan with pro forma financial statements showing significant revenues within five years
- Founder is full-time and has pertinent niche expertise and additional team members are a plus
- Sufficient seed capital or personal financial resources to carry the venture for at least six months at the current burn rate
- Desire to utilize and participate in the full breadth of services offered by NTEC and willingness to participate in open-book accounting and advisory services
- Ability to support and enhance the educational mission of NTEC through offering and/or participation in educational programming and events
- Fit within the physical and operational constraints of the facility, e.g. space requirements, fees, equipment, infrastructure etc
- Ability to pay the $200 nonrefundable application fee (which will be applied toward deposit for accepted applicants)
Ready to Apply?
Before beginning the application, we encourage you to put some thought into the criteria outlined above, as well as, these important points:
- NTEC has no obligation to admit your company to the accelerator program
- Eligibility and final determination of acceptance or rejection is at NTEC’s sole discretion
- Prior to acceptance, we cannot execute a nondisclosure agreement (NDA) due to the nature of our business
- NTEC has no liability to the applicant related to the application, review and selection process used to determine acceptance into the program
If you have any questions about your eligibility or anything else related to NTEC, please contact us.