LUMS Center for Entrepreneurship opens its ‘Acceleration Program’ for startups on a rolling basis
The Foundation at LUMS Centre for Entrepreneurship (LCE) has now opened its Acceleration Program on a rolling basis instead of just once every 4 months. LCE will allow two or three startups to be a part of The Foundation, only if the startup fulfills the criteria. This decision was made after they were approached by several promising startups for acceleration during off season.
You can send in your applications for incubation if your startup is based on a high-impact business and has launched a beta version of product in the market. Your startup must have a strong and committed team of 4+ founders or early employers. Additionally, the startup’s growth trajectory should align with currently incubated startups at the LCE at the time when it’s joining the cycle.
The selected startups will join at the same cost as other accelerated companies i.e. 2.5% equity. They will be able to extract the kind of value they are looking for at LCE i.e. mentoring, networking, investor summit access, etc. Moreover, the startups will be offered 24/7 utilities, IT and administrative infrastructure & resources, stipend, and other recreational on-campus activities.
The startups accepted into the current batch of The Foundation will only qualify to pitch at the Investors Summit if they go through at least 3 weeks of financial and business models refinement and investor pitch training. Others will need to wait till the next summit.