The difficulty, and what the program is designed to do is figure out what type of business model will work for the entrepreneurial teams.
“Startups are not small versions of big companies,” Schy said. “Large companies execute known business models. Startup companies have to search for their business model.”
In addition, a health-based accelerator program in Louisville is expected to announce its launch Friday.
“I think we can really complement each other really well,” Lanum said of the two programs.
About 40 applications have been accepted for Velocity Indiana already. The deadline for applications is April 14. The hope is to have about 100 applications to choose from by the deadline, Schy said.