Building a framework for success
While challenges such as managing cash flow, deciding when and who to hire and how best to generate awareness for a product or service are common to most young companies, we know that no two companies are the same. That’s why we designed the NTEC Accelerator Program to accommodate a wide range of needs while still providing a framework that supports the growth and evolution of our member companies.
NTEC staff get to know the nature of an applicant company’s business, the personalities of their founders and management and may get a sense of the areas where the company needs the most help, but the real exploration of how NTEC can best support them comes once they’re accepted to the program.
- After everyone is settled into their new offices, NTEC staff and advisors will meet with members of the company and conduct an initial assessment, which includes a review of financials.
- Based on the information surfaced in the assessment, NTEC staff and advisors develop a 90-day plan designed to addresses the member company’s situation, opportunities and challenges.
- Once the recommendations are complete, NTEC leadership reviews the plan with member company management and both parties agree to measurable goals and milestones for the next 90 days, as well as who is responsible for reaching them and areas in which NTEC will provide support.
- After the goals and milestones have been set, NTEC will work with and provide support to the member company, yet holding them accountable for reaching the goals set forth in the plan.
- At the conclusion of the initial 90-day period, NTEC leadership will meet with member company leadership in order to determine how they have performed against the plan.
- Following each review session, NTEC staff and advisors will recommend new goals and / or areas of focus, and / or advise the company to continue working against the goals and milestones set forth in the original plan.
In addition to the structured element of the program, NTEC staff members provide advice and support in these areas as-needed:
- Business Management
- Business plan development and refinement
- Advisory board development assistance
- Regulatory matters
- Access to NTEC’s Board of Directors, Advisors and the Frisco EDC
- Access to reduced-rate business services by pre-screened service providers