FAST and DBI
Description
The Frontline Accelerator for Science and Technology (FAST) and the Detroit-Based Initiative (DBI) are TechTown’s processes for customizing a growth plan for Detroit-based start-ups. They are designed to inject essential resources into an emerging company at critical stages in its development.
Clients work closely with TechTown staff and an array of business consultants and service providers to create and execute a detailed strategy for growth. Resources are diverse, but limited. Consequently, their allocation is taken seriously.
Each application is reviewed by a committee with expertise in business research and venture development. We invite you to complete the application form at the bottom of this page and return it to our offices to the attention of Assistant Director of Business Development, 440 Burroughs, Detroit, MI 48202.
Admission Policy
To be considered for admission, candidate companies must:
1. Be a life sciences, homeland security, alternative energy or advanced automotive/ manufacturing/ materials technology, or be located in Detroit and be women and/or minority owned
2. Be a for-profit entity as a sole proprietorship, partnership, limited liability company, corporation or have expectations for the prompt formation thereof, or be a not-for-profit entity
3. Demonstrate a need for incubator services
4. Agree to provide, on a confidential basis, business metrics, such as location, number of employees, amount of investment funds attained and revenue figures for five years after successful graduation from the program for reporting and statistical purposes
Admission is on a case-by-case basis. Evaluation criteria includes, but is not limited to:
The review process involves:
Please address the technical, business/market, and management aspects of your company in the executive summary that you submit as part of your application. Do not include confidential technical information. Your executive summary should be three to four pages long.
The executive summary should have the following elements:
Company overview—Describe the mission and goals of your company. State the existing stage of your company.
Market—Describe the size of the market and growth potential. Define your target market (customer), market need and how your product will address this need.
Technology/product—Describe the product, underlying technology and its uniqueness.
Competition—Describe the competitive market and your competitive advantage.
Sales and Marketing Strategy—Describe the plan to market, sell and distribute your product and revenue model are you using. Delineate the overall goals in terms of market share/revenue and the plan to achieve these goals.
Intellectual property—List all patents, trade secrets, trademarks, business models, etc.
Management team—List your management team and relevant professional experience and educational background.
Funds required and use of proceeds—How much money is needed to reach the company’s milestones? What is the total investment required? What types of financing are you seeking?
Exit strategy
Financial overview