Contact: Evans McMillion
NORFOLK, VA (July 29, 2022) – 757 Accelerate is excited to announce the seven new companies of 757 Accelerate’s Cohort #5! Seven promising, early-stage startups were selected out of 155 applicants to participate in 757 Accelerate’s 12-week intensive startup program on August 29th. “Every company in Cohort #5, whether in healthcare, fintech, workforce development, real estate, or supply chain management, is addressing a specific market gap, has interesting traction, and is backed by a great team. We are excited to see how leveraging our deep bench of experienced mentors, industry experts, customers, and regional ecosystem resources can help move these startups further faster,” said Evans McMillion, 757 Accelerate’s Executive Director.
757 PROVIDING CONTINUUM OF RESOURCES TO INCREASINGLY DIVERSE STARTUPS
757 Accelerate Cohort #5 startups will receive $20,000 non-dilutive grants and access to free collaborative office space in the 757 Startup Studios offices within Assembly’s iconic campus for makers and creators, with the 30 earlier stage startups already working in the Studios. Notably, two of the seven companies in Cohort #5 came from the 757 Startup Studios community. “The 757 Startup Studios resources – marketing, financial modeling, and customer introductions – have already been instrumental for us at Crunchy Hydration, and we are confident that the robust programming and investor network at 757 Accelerate will take us to the next level,” said Megan Riggs, Co-Founder of Crunchy Hydration.
Besides driving results for its founders, 757 Accelerate is equally as excited about its continuing efforts to create an interconnected, inclusive, and impactful entrepreneurial ecosystem in Hampton Roads. “We continue to focus on building an inclusive ecosystem that supports the growth of all founders, including women, people of color, and military vets, and are excited that six of the seven 757 Accelerate Cohort #5 companies have underrepresented founders on their teams,” said Monique Adams, 757 Collab Managing Director.
ATTRACT AND RETAIN
With three Virginia companies and four from out of state, 757 Accelerate is both a retention and attraction tool for innovative talent and regional business. “TowneBank is proud to sponsor 757 Accelerate’s efforts to attract and develop high-quality startups and talent to Hampton Roads,” said Anne Conner, President of Public Finance and Community Investment at Towne. “Datacontinues to show that building a strong innovation economy to support the growth of VC-backed startups grows more-resilient jobs 8x faster than non-VC-backed companies,” noted Conner.
MEET 757 ACCELERATE COHORT#5
After hundreds of hours, thirty-nine reviewers selected the following seven dynamic startups to join 757 Accelerate Cohort #5starting August 29th:
Chainparency helps companies validate authenticity, source, and sustainability claims using a suite of turnkey digital tools and applications to enable real-time collection and recording of high-fidelity data, chain-of-custody, and other supply chain transactions on a scalable, cost-effective, and environmentally-friendly immutable blockchain ledger.
ConConnect connects the justice-impacted community with services, resources, and employers through professional networking technology.
Crunchy Hydration is a line of functional sparkling waters that promote the practice of mindful hydration. Our goal is to provide great-tasting water that hydrates on a deep cellular level while easing the mind and body of everyday stressors. With a deliberate combination of adaptogenic herbs and nootropics, our waters promote relaxation while increasing the body’s resilience against physical, chemical, and biological pressures.
Dreami is a beautiful platform that closes the gap between professionals and career development by powering mentorship-driven workforce programs for Non-profits, Universities, and Corporations.
Hubly Surgical has created patented medical drilling technology that is safer and more effective than the currently available antiquated hand-crank drills. Hubly’s drills use autostop, force indication, and battery power for use inside and outside the operating room.
NFTYDoor is a digital lending platform providing faster access to the $11 trillion home equity loan market. In the current high-interest rate environment, it’s more affordable to access liquidity through home equity loans. NFTYDoor’s online loan application takes 1 minute to complete, provides an instant offer, and closes in as fast as three days. We also offer a white-labeled “HELOAN in a box” solution for banks and non-bank partners to support their customers through all of life’s transitions.
Reelist is the new video-first way to attract Millennial and Gen Z talent. We enable employers to hire better and faster by making job hunting transparent, efficient, and fun. Employers highlight their jobs, culture, mission, and more in a series of short-form videos, like TikTok for hiring. Reelist recommends videos to target job seekers, enabling them to get an inside look into companies and jobs before applying.
About 757 Accelerate
757 Accelerate is a selective, mentor-driven startup program that provides promising founders $20,000 in capital without taking equity, connections to customized mentors, investors, and resources, as well as actual customers to help validate their product and test their business model. To date, we have accelerated 25 companies who have gone on to raise over $52M in equity capital, $22M in revenue, and created over 200 jobs. Launched in 2018, 757 Accelerate is a nonprofit accelerator serving all of southeastern Virginia that aims to close the gaps in the Hampton Roads entrepreneurial ecosystem one startup at a time. For more information, visit 757accelerate.org.
This project was funded in part by GO Virginia, a state-funded initiative administered by the Virginia Department of Housing and Community Development (DHCD) that strengthens and diversifies Virginia’s economy and fosters the creation of higher-wage jobs in strategic industries.