The City of Burbank announced the launch of a new pre-seed virtual accelerator today designed to help stimulate economic development and advance innovation for tech startups and small businesses. In partnership with Untapped Ventures, a local Los Angeles-based startup/venture studio and Venture Capital firm, the City of Burbank has taken action in the midst of a global pandemic to ensure that entrepreneurs are provided the resources necessary to work on the challenges facing the future if our workforce today.
The virtual studio accelerator program will help 25 entrepreneurs in a in a two (2) phased approach. The first phase runs March to June 2021 and lays the foundations for cofounders meeting, ideating, and validating an important problem to solve in the Future of Work space. Phase two will run from July to November and is designed to build traction and show off progress in a Demo Day in November to help attract funding.
Due to the unprecedented shift we have experienced as a result of the on-going pandemic, the theme of the accelerator is innovation in the Future of Work. The Future of Work spectrum is wide and ranges from startups building new productivity tools (think Zoom and Slack) to technology ventures using hardware (like Virtual Reality). In essence, this program is for startups building tools, services, and technology that makes work easier, no matter what industry that may be.
Mary Hamzoian, City of Burbank’s Economic Development Manager notes “The way people work is changing so quickly due to the pandemic, an accelerator that focuses on supporting startups and re-imagining how industries work will play an important role in re-building the future of the workplace.”
The City of Burbank’s Economic Development Team has been instrumental in creating opportunities for local entrepreneurs to learn, grow, and thrive. In addition to this new accelerator, the City of Burbank also hosts Burbank Tech Talks and Burbank Start-up Pitch Fests aimed at helping small businesses and entrepreneurs succeed by learning about the resources and networks available to them. The numerous co-working spaces and tech labs in the area makes it easy for local innovators to experiment and launch new ventures. The City of Burbank is truly an entrepreneurial ecosystem and innovation hub.
“Burbank has a diverse tech ecosystem led by Media & Entertainment, but also spans into other industries including Tech, Healthcare, and Manufacturing. We want to support all industries and their innovations through our Future of Work Accelerator, while spreading the word about the benefits of doing business in the City of Burbank.” says City of Burbank Mayor, Bob Frutos.
The Future of Work Accelerator is the result of over six months of planning, strategizing, and development. Untapped Ventures is at the forefront of innovation within the Future of Workspace and invests in ventures at the earliest stages. Their experienced team of startup experts, EIRs (Entrepreneurs in Residence), and startup coaches have achieved remarkable results running this accelerator program for other corporates and government entities. Most recently, their Aspiring Founders program finished with great success.
“Untapped Ventures is very excited to work with the City of Burbank to run this unique, traction-focused, high value-producing accelerator that will benefit economic development in the City of Burbank.” shares George Bandarian, Founder & General Partner of Untapped Ventures.
Click here to learn more and apply to the accelerator: https://www.untapped.ventures/accelerator.