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Communitech’s HYPERDRIVE Program Announces Second Cohort Of Eleven Companies

communitech [1]The second cohort of companies participating in Communitech’s [1] HYPERDRIVE program [2] – a $30+ million startup incubator – was announced today, with 11 diverse up-and-coming startups ready for the spotlight. Still less than one year old, the HYPERDRIVE program has made its mark as a strong and unique incubator, seeing significant interest from funders and partners.

“Building on the success of the first cohort in which five of the seven participating companies obtained follow-on financing, our second cohort will see enhanced programming with much greater focus on generating revenue to help companies get from “Seed to Series A” as quickly as possible,” said Doug Cooper, Managing Director HYPERDRIVE. “We received applications from 16 countries around the world for the second cohort, making the 11 companies selected truly the cream of the crop.”

As part of HYPERDRIVE’S full lifecycle approach, the program enables up to 30 companies to participate annually, each with a three-month ‘sprint’ to take startups from concept to angel and VC investment-ready. The sprint culminates in a week-long immersion in the heart of New York City’s burgeoning tech community. The program is differentiated from other startup incubators by virtue of a two-year mentoring program, ensuring the sprint period is followed with support designed to help founders scale their businesses, with the goal of being “Series A” fundable at the end.

The following 11 companies make up the HYPERDRIVE second cohort:

Phase 1 of the program which begins now, introduces the startups to market validation, with a focus on customer development and helping them discover the overall strategic direction of their companies. Along with Cooper managing the program, HYPERDRIVE draws on the expertise of head coaches Ted Hastings and Steven Woods. The program can also enlist support from Communitech’s team of Executives-in-Residence and more than 130 mentors who have volunteered their time to help coach these emerging businesses.