Richmond’s Startup Accelerator, Lighthouse Labs, Announces 5th Class
Things are looking good for startups in Richmond. Earlier this summer we reported that Capital One had re-upped their commitment to Richmond’s startup accelerator Lighthouse Labs with $100,000 donation. This helps the cohort based accelerator, now in it’s 5th class, give each startup $20,000 in a non-equity grant. Earlier this year we also reported that Capital One purchased a building to help launch an incubator in Richmond’s trendy Shockoe Bottom neighborhood.
Last week as part of RVA Tech/Jam a weeklong festival highlighting entrepreneurship, innovation, technology and startups, Lighthouse Labs announced the startups that made the cut for their 5th cohort. This year the team at Lighthouse sifted through nearly 300 applications, the largest number they’ve received to date.
In addition to the no-equity $20,000 grant, each startup receives office space, startup and entrepreneurship classes and guidance as well as access to an impressive mentor network. Lighthouse Labs is one of only a handful of accelerators on the east coast that offer non-equity grants. At the end of the cohort, Lighthouse graduates will be investor ready and they want each startup to maintain as much equity as possible before they start taking traditional (and non-traditional) venture capital.
Here are the six startups selected as reported by richmondbizsense.com
- RoundTrip, which helps healthcare professionals and patients arrange for non-emergency medical transportation.
- Indivigroup, a social network platform to crowdsource solutions to community problems.
- AnswersNow, an app that connects parents and caregivers of children with autism to doctors, psychologists, teachers and therapists.
- Blueswipe, a payment processing company focused on small businesses.
- Ivy Oaks Analytics, a pest-control startup which controls tick, mosquito and poison ivy presence at campsites.
- Pay Your Tuition (PYT) Funds, an online platform helping students pay for higher education through a hybrid of bank loans and crowdfunding.
You can find out more about Lighthouse Labs at lighthouselabsrva.com