Frequently Asked Questions
How much does enrollment in the ThinkLab program cost?
ThinkLab is your personal investment in the foundations of your technology venture and skill development as a founder and entrepreneur. Our ThinkLab program is a structured deep dive for founders and the fee for enrollment in this program is $1,000 and includes the cost of all materials and supplies. The program is self-paced and runs for 12–16 weeks. We run two cohorts per year in the Spring and Fall.
How much does enrollment in SmartStart and FastForward programs cost?
We enroll new clients into our SmartStart and FastForward programs based on your stage of development. SmartStart is where you build and launch your startup and tirelessly advance the people, tools, and culture within your venture and FastForward is for scaling high-growth companies and taking on new leadership challenges after finding a scalable business model. The cost of the SmartStart program is $4,000 and the FastForward program is $6,000 annually in addition to the rent of office/lab space.
How much is rent at the TechFW facilities?
Our office space is subsidized by the City of Fort Worth to be priced below market value. Office space ranges from 200 sq. ft. to 820 sq. ft. and the average is 338 sq. ft. The wet labs available to TechFW clients are subsidized by the University of North Texas Health Science Center at Fort Worth.
Does TechFW take equity in my company?
We do not take equity in our client companies. TechFW is a non-profit entity that relies on funding from its supporters in combination with subsidized fees for its services to execute its long-term financial strategy.
What is a business incubator?
Incubators typically charge monthly program fees or membership dues in exchange for office/desk space and access to program offerings. Incubators offer programs to member companies that typically include mentoring, education/training, and informal learning opportunities. Incubators also host events to provide networking and learning opportunities for both member companies and the local community. Member companies are usually required to apply to ensure they meet the incubator’s criteria or mission (industry, stage of company, founder demographics, etc.). Incubators usually have graduation policies that are typically based on achievement of agreed-upon milestones, growth metrics or time-based stipulations. Typically companies join incubators on a rolling basis (non-cohort), and are able to reside in the incubator for 1-3 years. (www.inbia.org)
What is a technology and business incubator?
A technology and business incubator is a business incubator that focuses on businesses that own or have exclusive rights to proprietary technology which makes up the core competency of the business.
How does TechFW help my company get funding?
TechFW supports the navigation of funding in two ways. Direct and in-direct. We connect companies with angel investors (high-net-worth individual investors) directly through our Cowtown Angels program and connections with the Alliance of Texas Angel Networks. Our coaches work with clients on the creation of proformas, forecasts, and pitch materials in preparation to apply to investors and non-dilutive funding sources including loans and SBIR grants. We work with founders to perfect their presentations and develop their fundraising strategy on an ongoing basis. We also partner with the Tarrant Small Business Development Center (SBDC) to help founders to develop their funding strategies and materials.
How do business incubators differ from research parks?
How do business incubators differ from SBDCs?
The U.S. Small Business Administration administers the Small Business Development Center (SBDC) program to provide general business assistance to current and prospective small business owners. SBDCs (and similar programs) differ from business incubators in that they do not specifically target early-stage companies; they often serve small businesses at any stage of development. Some business incubators partner and share management with SBDCs to avoid duplicating business assistance services in a region. (www.inbia.org)