ABQid believes a founder’s self-awareness and overall fitness are keys to company success, so our program weaves personal development into the core of the experience from start to finish.
Name of Accelerator: ABQid, Inc.
Location: Albuquerque, NM
Executive Director: T. J. Cook
This article is part of our Startup Accelerator Spotlight Series featuring accelerators from around the world. We hope these spotlights will assist the entrepreneur should they consider attending an accelerator program.
In two sentences or less, tell us about your accelerator and its objectives.
ABQid is creating opportunities that lead to prosperity through a thematic focus starting with the health and wellness space. We want to build a healthier future by accelerating early-stage businesses with high-growth potential that can leverage the unique attributes of our city and state in their early stages.
Why is your accelerator program unique? Please describe the benefits of participating in your program.
When it comes to health and wellness, we invest in entrepreneurs just as much as their company. We do this because we believe a founder’s self-awareness and overall fitness are keys to company success, so our program weaves personal development into the core of the experience from start to finish.
What is the most difficult part of working with startups?
The most difficult aspect of working with startups is getting the entrepreneurs to slow down, take a step back, and analyze their business, situation, and possibilities without bias. Many of the entrepreneurs we encounter are so passionate and committed to their ideas that it can be difficult to alter their course to a more effective manner.
What do you enjoy the most: what do you find most appealing about working with entrepreneurial startups?
The most enjoyable aspect of this line of work is being able to assist entrepreneurs in accomplishing their goals and establishing their dream businesses. The wide variety of companies and industries is also appealing as it allows for knowledge to be gained in a wide range of sectors and industries.
Tell us about your success stories. Which are the most interesting companies to have participated in your program?
Some of our more interesting companies are also known as a few of our more successful companies. For example, one of our portfolio companies, Honeymoon Brewery, produces a kombucha based craft beer. They recently won $220,000 as the grand prize winners in the Miller Lite “tap the Future” pitch competition, beating out 15,000 other entrants.
We have seen similar success in other portfolio companies, such as Innobright Technologies. The technology developed by Innobright is used as a denoising software for CGI rendering. The technology can reduce both the cost and time involved by half. Innobright Technologies won the $100,000 grand prize as part of Revolution Growth’s Rise of the Rest.
Another portfolio company of interest is EquiSeq. This company is a genetic testing company hoping to improve breeding and outcomes for horse owners. The tests can determine if a horse possesses any genes that could lead to disease or sickness before they are used for breeding. This means the genetic vulnerabilities of horses can be identified and eliminated, creating increased knowledge and confidence for breeders and purchasers alike.
What are the three most important factors startup entrepreneurs should consider when contemplating attending an accelerator?
The three most important things, in no particular order, for entrepreneurs to consider before attending an accelerator are:
- Whether or not this is a lifestyle business or a company that they are looking to sell one day.
- If an accelerator is indeed what is needed to get the business to its next milestone.
- Whether they are ready, willing, and able to devote their complete attention on the program in order to get the most out of it.
Are you familiar with accelerators you believe should be spotlighted? If so, we would like to hear from you. Tell us about them,sharing your comments below?