What is HOTTovation?
The HOTTovation program is a startup “percolator” program charged with coaching and mentoring entrepreneurs with innovative and cutting-edge technologies. Given Morrisville’s resources and talent experienced in the life sciences, advanced manufacturing, and high-technology industries, HOTTovation was designed to support entrepreneurs developing the technology of tomorrow. The HOTTovation name stems from Morrisville’s role in the region as the “Heart Of The Triangle,” or HOTT for short. The Morrisville Innovation Foundation, a charitable arm of the Morrisville Chamber of Commerce, operates the HOTTovation program.
How does HOTTovation work?
HOTTovation is structured into two phases. First, participants will undergo a two-month Feasibility/Ideation Phase. The first phase is focused on helping entrepreneurs fleshing out their idea, conducting preliminary market research for feasibility, evaluating high-level paths to commercialization. Participants will work one-on-one with experienced coaches and mentors during this phase. At the end of the first phase, participants will present a short presentation on their results and future steps to success to the HOTTovation startup committee for constructive feedback and evaluation.
The second phase, named the Development Phase, takes a deeper dive into furthering the business concept. This phase will include in-depth market research and analysis, continuing technology development, researching and evaluating industry-specific business models, and ultimately drafting a commercialization and development plan. The aim of the Development Phase is to provide the foundation needed to aid fundraising efforts after exiting the HOTTovation program.
Throughout the HOTTovation program, participants will be provided with free office space at the Campbell University – RTP Campus for a period of five months. Additionally, participants will receive a free one-year membership to the Morrisville Chamber of Commerce with the opportunity to engage in numerous local networking events. As participants work with their mentors over the course of the HOTTovation program, participants are expected to reach pre-designated milestones and engage in networking and study activities designed to give the entrepreneur’s business a solid foundation.
At the conclusion of HOTTovation, participants that have successfully developed their commercialization and development plans will present at a graduation “pitch” event to an audience of local representatives of the startup community.
Who is HOTTovation for?
HOTTovation welcomes technology-focused new and seasoned entrepreneurs as well as early-stage startups throughout the Triangle that could benefit from the coaching, mentoring, and resources provided. Entrepreneurs come from a broad range of backgrounds, experiences, and stages in life. HOTTovation is designed for industry professionals that are developing some type of technology, whether in the life sciences, advanced manufacturing, or high-technology industries. Entrepreneurs developing biomedical technology, medical devices, pharmaceuticals, agricultural technology, B2B software development, or electronics manufacturing are just a sample of the participants that can benefit from the HOTTovation program. Lastly, participants are not required to be located in Morrisville.
- 2017 HOTTovation Application (application period starts March 1, 2017)
- Applications are due by March 31, 2017 at 5:00 PM EDT
- Interviews conducted April 11 – 12, 2017
- Accepted entrepreneurs will be notified by April 17, 2017
- HOTTovation begins May 1, 2017
- HOTTovation ends October 15, 2017
Join us for an Information Session, Wednesday, March 15 from 5:30 – 7:30 pm, to learn more about HOTTovation, the unique benefits this program has to offer, what is required and how to apply.
For questions about HOTTovation, please contact Sarah Gaskill at 919.463.7159.
I participated in the inaugural HOTTovation program and I can say it has been key to the success of my start up Dignify Therapeutics. The mentoring and connections laid the foundation and my company has successfully raised $1 million in funding. I highly recommend this program.
Founder, Dignify Therapuetics