Addison accelerator Collide Village is switching up its offerings for entrepreneurs with a new startup studio called CoBuild.
According to D CEO‘s Danielle Abril, the studio will offer resources and partnerships to help spur successful businesses. It’s also raising a $3 million investment fund from angels, venture capitalists, and the studio’s co-founders Tahir Hussain and Matt Warmuth.
Hussain, who is also founder of Collide Village, said it’s unlike other programs in that it will go beyond mentorship and funding to guide startups through support and “hands-on execution.”
“The accelerator model has gaps,” Hussain told D CEO. “You give them money and hope for the best. We want to change that.”
“The accelerator model has gaps. You give them money and hope for the best. We want to change that.”
Startups participating in CoBuild have the opportunity to earn $200,000 to $300,000 investments for reaching certain milestones. Entrepreneurs who don’t wish to continue with a company can retain a small equity while Hussain and Warmuth take on its development through CoBuild, according to the magazine.
Soon-to-be launched real estate technology company Avanta Risk Management is the first company under CoBuild.
According to D CEO, Collide Village will remain to serve its portfolio of businesses, while CoBuild will focus on developing new ventures.
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