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OCEAN Accelerator

The OCEAN programs high-tech accelerator helps founders build venture-backable start-ups.

The 16 week virtual program combines unique curriculum and rich mentorship. Our program leverages seed funding and mentors—among other accelerator benefits—to help grow startups while taking founders on a concurrent spiritual journey. 

FIVE CORE TOPICS

Accelerator FAQs

Accelerator 2020,
Class 6

Virtual Demo Day
2020

Apply for the 2021 Accelerator,
Class 7

Frequently Asked Questions

How many companies do you accept for each class?

We accept up to 10 companies in each yearly class. We like to keep our class size on the smaller side in order to be able to offer more personalized guidance and training throughout the program.

Do I have to come to Cincinnati?

OCEAN Accelerator has historically been a residential program. Our 2021 program will be designed to be digital while hopefully including some residential sessions. Content sharing, discussions, executive-in-residence, and mentor meetings will occur digitally. If travel is safe, we would add up to three residential sessions: orientation and welcome week; mid-program review week; and, investor and demo day week. Residential sessions are subject to compliance with national and state health guidelines. If residential sessions can be safely held, participants are required to attend.

Do I have to be a Christian to participate?

No.

OCEAN is a federally recognized 501(c)3 and welcomes applicants of any race, color, national or ethnic origin, ancestry, age, religion, disability or handicap, sex or gender. OCEAN prepares founders to accelerate their business; to protect identity loss; and to become culture creators. We integrate Biblical leadership lessons throughout the program.

What type of companies do you accept?

OCEAN accepts tech startups that are beyond the idea stage. Not sure if you should apply? Go ahead anyway. Applications put you on our radar and can help you think through your business as you process the application. Seriously. Do it. For examples of accepted companies, here’s a list of OCEAN Accelerator Alumni.

What are characteristics that influence acceptance to the program?

Ideally, we are looking for great teams with great ideas. Here are attributes that strongly influence acceptance:

  • Team – We prefer teams to solo founders. We assess team history, experience, make-up, and diversity. We prefer teams that have solid technical skills
  • Domain Experience – We prefer Founders with direct experience in the industry their start-up is entering.
  • Tech – We prioritize technology-based and/or technology equipped start-ups.
  • Customer Validation & Business Model – We look for companies with insight or proof they’re solving a problem that the market really cares about (and are willing to pay money to solve).
  • High Impact Potential–We believe in building into people who are trying to change the world and who aspire to be good stewards of their success.
  • High Growth Potential–We’re looking for people and ideas with a high likelihood of creating sustainable businesses that grow quickly.
What does the Accelerator program cover?

Our commercial focus is on value proposition validation, robust revenue models, and investor readiness. Our founder focus is on mitigating identity loss due to isolation and preparing founders to be culture creators. The program is a mix of content, discussions, speakers, work sessions, investor pitches, and community building.

How do you integrate faith?

Seamlessly.

We believe in the integration of faith and entrepreneurship. The principles we teach help a founder mitigate isolation, fear, and loss of identity. Isolation is a significant risk to founders and unfettered could lead to devastating negative outcomes. Concurrently, founders will be culture creators. Our program prepares them to create an intentional culture that reflects their values and mission.

What are the terms of your seed investment?

Each company receives a $50,000 investment from 11 Tribes Venture Capital. Furthermore, participants have the potential to gain an additional $25,000 investment from 11 Tribes based on program participation and performance.

  • 11 Tribes is a Chicago based venture capital fund focused on the intersection of purpose and profit. Their investment comes in the form of a founder-friendly, convertible note plus dilutable warrants. The warrants are exercisable for 2% of the company’s outstanding shares at the time of issuance and have a five-year maturity. The note converts at any subsequent fundraising event in which the pre-money valuation exceeds $1M, and converts at the lesser of a 25% discount or a $3M cap. 11 Tribes also receives the right to participate in each subsequent round of financing up to 50% of the total round with a cumulative maximum total of $1M.
  • Click here to download their full terms sheet.

Meet the class of 2020

Virtual Demo Day 2020

Demo Day is the culmination of 16 intensive weeks for OCEAN Accelerator founders. The unique challenges of 2020 created an opportunity for our first Digital Demo Day. Check out  OCEANDemoDay.com to watch the pitches and meet the Accelerator Class 6 founders. 

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