The WT Enterprise Center is launching the Texas Panhandle’s first technology accelerator program – WIRE Accelerator. WIRE stands for Workforce, Innovation, Regional Connectivity and Entrepreneurship, with the accelerator having an impact on each of these.
The development of an accelerator program is part of a strategic initiative of the Enterprise Center to offer more technology and commercialization services to the region. Accelerators support early-stage, growth-driven, technology companies through education, mentorship and financing. The accelerator experience is a process of intense, rapid, and immersive education aimed at accelerating the life cycle of young innovative companies and technology. Accelerator programs on average offer 3-months of programming, seed capital for development and a Demo Day to pitch the startups to investors for follow-on funding.
Accelerators in many cities serve as a vehicle for regional connectivity by fostering a relationship between corporations and startups. Corporations get a first look at technology that could help solve current problems or needs, create efficiencies in systems and offer enhanced customer experiences. The startup gets access to industry experts, customer discovery opportunities and product testing. From the connection, the startup might get a contract, follow-on funding or acquisition from the relationship. WIRE Accelerator will have focused technology verticals of agriculture technology, financial technology, energy and artificial intelligence. These verticals have been identified as regional strengths. WIRE Accelerator will add value to the startups and produce technology our corporates need.
WIRE Accelerator also provides a great opportunity for retention and recruitment efforts by attracting regional and national technology companies to participate. These efforts impact our workforce and economic development by creating more tech-based jobs for engineers, software developers, coders and designers and bringing additional revenue to the region.
Championing entrepreneurship is at the core of what the Enterprise Center stands for. We’ve been Helping People Build Great Companies for eighteen years through business incubation services and we are excited to reach more entrepreneurs by adding acceleration to our growing list of services. We have the structure and staff in place to offer startups an inviting environment, top-notch programming, access to strong regional corporations, connection to experienced mentors and an opportunity to pitch to investors for follow-on funding.