Why Northwest Arkansas?
Great question, and one we hear a lot. Click here for reasons why Forbes, Travel + Leisure and CNBC have singled out Northwest Arkansas as a top-ranking place for entrepreneurs to build their businesses and launch their careers.
How much funding do companies receive from The ARK Challenge?
You will receive $20,000 in seed funding to cover the costs of living in Northwest Arkansas while you build a prototype. You also will receive free office space, industry research, legal support and marketing services to promote your startup company. Additionally, you will have access to an invaluable network of key cluster experts, advisors, mentors, presenters and funders. A program like The ARK will increase the value of your company significantly and in an accelerated time period. In return The ARK will receive a 6% equity stake in each company.
What kind of companies will The ARK Challenge accept?
The ARK is looking for technology startup companies and founders who are motivated and interested in focused coaching to reach the next level. Each startup team should consist of 2-5 people. Your company may be in the concept stage, a graduate of another accelerator or one that already has customers or angel investors. We are looking for Internet and mobile technology startups that can prepare a product or process to demo within 14 weeks. Because of our location and concentration of expertise, we believe we can provide the most value to high-growth, technology-oriented opportunities that focus on serving the retail, transportation and logistics and food processing industry clusters. Startup companies focused on building a new scalable web-based or mobile technology service or product are all eligible to apply.
If my company is one of the two startups selected at the end of the bootcamp to be eligible for an additional $150,000 in investment, are we obliged to take the funding?
Not at all. One of the unique aspects of The ARK is that two participating companies are guaranteed access to up to an additional $150,000 each. This part of the program is in place to help founders as they scale. However, the terms are negotiable, and the funding is optional.
When is the application deadline?
The deadline to apply is April 14, 2013, at 11:59 pm CST.
Do I have to be in Northwest Arkansas for the entire program?
Yes. We expect a full-time commitment from ALL of our startup founders.
What if I have more questions?
Contact Jeannette Balleza, The ARK Challenge Director, using the contact form.