Flywheel Co-Working In Winston Salem Launches 2nd Startup Competition
Peter Marsh, the founder of Flywheel co-working space in Winston Salem North Carolina is launching their second New Ventures Challenge. Through the competition they will select 5-8 startups to participate in their 12 week accelerator program.
Flywheel New Ventures Accelerator seeds their startups with 5,000 to 35,000. They startups participate in a bootcamp style entrepreneurship program that’s heavy on mentorship, product development, business development and investor prep.
Flywheel was opened as a space for co-working, but their underlying goal is to “turbo charge the startup ecosystem” co-founder Brad Bennett said last year.
Through the accelerator program not only will they lead startups to success as companies through further investment, but the idea is also that some of the companies will stay in downtown Winston Salem and need office space and other resources from the city that serves as home to one of the largest tobacco and products companies in the world, RJ Reynolds.
“Our long-term success is that someone incubates out of here, goes through an accelerator and lands in 10,000 square feet of space, and then needs to build their own building,” Bennett said. “You have a group of founders who are willing to engage so they can share the highs, the lows, the successes and the failures and give a real understanding of what’s in front of a startup.”
Last year’s competition raised $355,000. This year Marsh is hoping for $500,000.
Interested startups can apply at F6s here.