Startups

Applications Open for the Fifth Cohort of USVI-Based Tech Startup Accelerate VI – St, Thomas Source


University of the Virgin Islands Research and Technology Park (RTPark) [Submitted photo]

The UVI Research and Technology has announced that applications are now open for the 2024 cohort of Accelerate VI (AVI), a startup accelerator that supports the growth of the local tech ecosystem by helping tech entrepreneurs scale their businesses in the U.S. Virgin Islands (USVI). The program has a strong focus on companies in the territory but could work with a startup that is not from the territory but can benefit the territory in some way.

Selected participants for the hybrid program will embark on a targeted 12-week journey during which they will participate in weekly guided training, be coached by subject matter experts and be connected to a suite of leading business mentors specializing in their niche. The structured business curriculum aims to not only provide a roadmap of growth and development tutorials but also to help groom participants to be the entrepreneurs of the future.

Accelerate VI applications are open to all persons who are 18 years or older with a technology-enabled company. The deadline to apply at 11:59 p.m., Friday, Jan. 12.  Applicants may only submit one application per cohort and must adhere to the following criteria:
Are registered or willing to be registered to do business in the U.S. Virgin Islands

  • Past the idea stage: has at least a MVP (Minimum Viable Product) or has already launched
  • Has the ability to scale into national/ global markets
  • Technology-focused company with proprietary software (No Professional Services)
  • Raised or received less than $2,000,000 in total investment (e.g., equity, convertible notes, government grants, academic grants, digital currency, etc.)
  • Commitment to completing the entire Accelerate VI program

Startups from the following sectors are strongly encouraged to apply; however, all sectors will be considered: Sustainability Solutions and Renewable Energy, Financial Technology, Health Care, EdTech and Sports Tech.

“Accelerate VI is a catalyst for innovation, providing a dynamic platform for tech entrepreneurs to propel their businesses to new heights,” said RTPark Director of Entrepreneurship Eric Sonnier. “With a focus on scalability and fostering a diverse range of technology sectors, this accelerator is a key driver of entrepreneurship in the U.S. Virgin Islands.”

Since its launch in 2019, Accelerate VI has supported four cohorts and 22 startups from the Virgin Islands and beyond through the program. In total, AVI startups have generated over $2.5 million in revenue and raised over $7 million in capital for their businesses.

With a goal of generating long-term economic growth in the USVI, the RTPark is committed to fulfilling all aspects of its legislative mandate, including early-stage business incubation and acceleration. Strong entrepreneurial ecosystems are the foundation of resilient economies.

As the territory’s center for technology and knowledge-based businesses, the RTPark empowers Virgin Islanders to nurture innovative ideas and build sustainable solutions locally in the territory.

Startups interested in participating can learn more and apply at https://www.acceleratevi.com/apply-accelerator. Interested entrepreneurs can direct questions to Entrepreneurship Associate Amanda Spann at amanda.spann@uvirtpark.net.

To learn more about the RTPark or Accelerate VI, visit www.uvirtpark.net  and www.acceleratevi.com, respectively.

For media and partnership inquiries or interview requests, please contact the RTPark’s Associate Director of Marketing and Communications Sydney Paul at sydney.paul@uvirtpark.net.

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