SoCo Nexus Sprout is an exclusive mentoring program which takes North Bay startups in technology (products or software), medical devices, consumer products, and agriculture from the early business plan stage and prepares them for funding (angel, venture capital and debt financing) over a 6-month time period.
Our mentors are successful entrepreneurs and executives who are now angel investors and advisors passionate about empowering the next generation of entrepreneurs.
SoCo Nexus Sprout is looking for young growth-oriented companies, with many if not all of these characteristics:
- Product/service addresses a significant problem in a large market
- Sustainable competitive advantage (patents, barriers to entry, etc.)
- Working toward a liquidity event for shareholders
- Has not raised significant capital to date
- Headquarters is located in the Bay Area or willing to relocate HQ to the Bay Area
- Desires mentoring and willing to listen
To begin the application process for the SoCo Nexus Sprout program,
The Sprout program takes selected startup companies from a developed business plan through initial outside angel level investments.
A Sprout mentoring engagement is designed to run for three to six months. During this period, you should expect that your team will need to invest a minimum of 100 – 200 hours in order to complete the work required for a successful outcome. You will also be expected to enter into an equity agreement that compensates SoCo Nexus, and the Mentors, for their involvement. In addition you will be expected to be at least a FleX member of SoCo Nexus.
Our commitment to our entrepreneurs
Sprout mentors work intensely with the entrepreneurs tailoring the program individually for each company in order to ready them for investment. Our mentors are experienced senior business people with profound expertise and at the top of their fields. Many of them are angel investors themselves significant personal networks and connections Sprout fellows are matched with mentors who see growth potential in their companies and have expertise in areas that are necessary to bring those companies to success. Fellows gain access to their selected mentors and the mentor group through intimate round table sessions, one-on-ones, informal time together and events designed to catalyze ideas and create community with other fellows, innovators and entrepreneurs.
How the Sprout program works
- Entrepreneur completes and returns the application.
- Screening committee will review application.
- Companies that pass initial screening will be invited to pitch
- Selected companies are provided a mentor for brief coaching to prepare for the pitch roundtable
- Entrepreneurs present to screening committee
- Accepted Entrepreneurs matched with a Sprout mentor
- Mentor works with Entrepreneur through a 3 phase 3-6 month process
- Current situation focus
- Future situation focus
- Company deliverables focus
- Upon successful completion of the program, the Mentor will make introductions to appropriate angel groups in the Bay Area with the endorsement and support of Sprout.
Sprout 3-phase mentoring process
Phase 1: Review and Situation Analysis
A thorough review of your company’s existing materials, including current investor documents, web sites, financial models, presentation(s) and industry research.
Phase 2: Goals, Objectives & Market Positioning
Development of clear and measurable business goals and market positioning
Phase 3: Charting Success & Telling Your Story
The learning in the first two phases will be applied to creating three critical deliverables that tell your company story and guide growth.
- Key Learnings Document – A summary of the key learnings from phases 1 and 2.
- Investment ”Elevator Pitch”: A clear and succinct investment snapshot that your entire team can consistently articulate.
- 18-Month Outline with Milestones: A set of operating milestones that provides your entire team with clear deliverables and timelines.
Sprout recognizes that every company is unique and we’re open to discussing adjustments to this scope of work to ensure that the program has the most benefit for participating companies.