What is Upstart Alpha?
Upstart Alpha is a startup accelerator based at the University of Alaska Center for Economic Development (UA CED) in Anchorage. The program is designed for early-stage entrepreneurs, both for students at the University of Alaska and non-students. Upstart Alpha helps you take your existing business model or concept and quickly move it forward. Over the course of three months, you will develop your concept, business model, team, and market using a lean approach. If you are accepted into the program, you will receive a stipend of $1,500 to $2,000 to offset startup costs.
What is a startup accelerator?
If a startup is defined as a temporary organization in search of a business model, accelerators are the boot camp that helps them find it. Accelerators offer intensive mentorship and experiential learning over a period of 3-6 months to a cohort of entrepreneurs. When they “graduate,” startups have ideally compressed years of learning into months and are ready for investment.
Who should apply?
We are seeking a balanced cohort of University of Alaska students as well as community-based (non-student) entrepreneurs. We will be seeking a cohort that reflects the diversity in our community. The ideal applicant would meet one or all of the following criteria:
You must be based in Alaska. We believe in building strong local entrepreneur ecosystems.
You must be early stage. Pre-revenue? Great. Just an idea? No problem.
We love students! But it’s not a requirement, and we welcome all.
We welcome applicants from diverse backgrounds; supporting women entrepreneurs and entrepreneurs of color is important to this program and our state's economic future.
What if I’m interested in starting a business, but I don’t currently have one?
If you are serious about pursuing entrepreneurship, then we encourage you to apply anyway. You’ll be expected to pick a business concept to start, or join another team in the cohort.
Do I apply as part of a team, or as an individual?
You may apply as either, although we encourage team applications; all applications will be evaluated on an individual basis. We will accept up to two people on a team to the cohort.
What is the time commitment?
The cohort will meet virtually for approximately two hours on Fridays during each phase of the program. Additional meetings with mentors and advisors will be available throughout the program. Participants are expected to attend all sessions, and should expect to spend a considerable amount of time outside of meeting building their business and testing their ideas.
What are the benefits of participating?
You will quickly build your business using a variety of tested startup tools.
By completing all three phases, you can earn a cash stipend of $1,500 to $2,000 to work on YOUR business.
You get access to a huge network of Alaska entrepreneurs, investors, and innovators.
You meet advisors and mentors to help guide you along your way.
What are the goals of the accelerator?
Create a culture of entrepreneurship and innovation that bridges the university system with the Alaska economy.
Grow the entrepreneurial mindset and help Alaskans explore innovative ideas and business models.
Feed the startup ecosystem by preparing the earliest stage entrepreneurs and startups for growth.
What kind of business themes will the accelerator explore?
The program emphasizes the Lean Startup school of thought, which calls for setting hypotheses and testing them. Participants will interview potential customers and create prototypes to assess customer behavior. Each week, they will report their findings to the class and instructors for discussion. Along the way, they will meet with mentors in entrepreneurship and subject matter areas to advance their thinking. Tools, topics, and methodologies include:
Entrepreneurial mindset
Building a team
Test your idea
Lean Canvas and customer development
Pitch and Presentation skills
Market sizing
Revenue models
Fund your startup and get ready for next steps
I’m not interested in applying, but I’d like to volunteer to help! Can I do that?
There will be opportunities to assist. If you’re an experienced entrepreneur, we can likely use your help as a guest speakers or mentor for the cohort members. We also need subject matter experts with a background relevant to starting a business or specific topics. That might include knowledge of a business function like accounting or marketing, or technical disciplines like coding or engineering. Contact us if you’d like to volunteer!
Who is leading the accelerator?
Staff from the University of Alaska Center for Economic Development (UA CED) are leading the program and day-to-day instruction of the accelerator, drawing heavily on university as well as community experts: successful entrepreneurs, investors, and mentors. The organizing team will collaborate with UAA alumni, interested faculty from all colleges, university partners from UA CED’s national network, and directors from other startup accelerators.