LOS ANGELES, November 8, 2018 (Newswire.com) - The Preccelerator® Program, an early-stage startup accelerator focused on technology and digital media companies, announced today that, with its next class starting in January 2019, it will provide an unrestricted cash investment of $25,000 to each participant company and will add to the already robust perks package $25,000 in legal services from Stubbs Alderton & Markiles LLP. The addition of the investment and services demonstrates a continued commitment to the Los Angeles tech community by Stubbs Alderton & Markiles LLP and the Preccelerator.
The cash investment and additional services will go into effect for Class 11 companies, with the class beginning on Jan. 7, 2019. The application period has been reopened for any founders interested in submitting their companies for review. The application deadline is Dec. 4, 2018. Organizations may submit their company application at www.preccelerator.com/application.
An investment component is a natural outgrowth to the already robust package we offer participating companies in the Preccelerator and, frankly, is long overdue. We continue to evaluate ways we can serve the technology community and obviously, a cash investment goes a long way towards the likelihood that participants in the Preccelerator will ultimately raise a significant round and become successful. The success we are seeing in the program gives us great confidence, so we are doubling down on our commitment.
Scott Alderton, Chairman, Preccelerator Program
This announcement comes a few months after the expansion to the new Preccelerator office, located at 1316 3rd Street Promenade, which both increased the co-working space for in-house companies and increased event space. The Preccelerator remains strategically in the heart of Santa Monica to provide a technology hub that is close to many valuable educational and networking events, tech culture and other resources to facilitate company growth.
In 2012, Stubbs Alderton & Markiles launched the first-of-its-kind Preccelerator® Program to provide select start-ups with co-working space, mentorship, sophisticated legal services, curriculum and access to a strategic perks portfolio with the objective of helping grow a founder’s idea from business concept to a funded company. Over the past six years, 39 companies have graduated the program, 27 of which have received funding, totaling over $12.5 million in the aggregate.
Scott Alderton, managing partner of Stubbs Alderton & Markiles and chairman of the Preccelerator, commented, “An investment component is a natural outgrowth to the already robust package we offer participating companies in the Preccelerator and, frankly, is long overdue. We continue to evaluate ways we can serve the technology community and obviously, a cash investment goes a long way towards the likelihood that participants in the Preccelerator will ultimately raise a significant round and become successful. The success we are seeing in the program gives us great confidence, so we are doubling down on our commitment.”
About Stubbs Alderton & Markiles LLP
Stubbs Alderton & Markiles LLP is a Southern California-based business law firm with robust corporate, public securities, mergers and acquisitions, entertainment, intellectual property and business litigation practice groups focusing on the representation of, among others, venture-backed emerging growth companies, middle market public companies, large technology companies, entertainment and digital media companies, investors, venture capital funds, investment bankers and underwriters. The firm’s clients represent a broad range of industries with a concentration in the technology, entertainment, video game, apparel and medical device sectors. The firm’s mission is to provide technically excellent legal services in a consistent, highly responsive and service-oriented manner with an entrepreneurial and practical business perspective. These principles are the hallmarks of the firm. For more information, visit https://www.stubbsalderton.com.
About Preccelerator® Program
The Preccelerator® is a novel platform offered to select start-up companies out of the Stubbs Alderton & Markiles LLP Santa Monica office that provides interim office space, sophisticated legal services, education, networking, mentorship and $450,000 in usable perks from Google Cloud for Startups, Amazon Web Services and HubSpot, among others, with the objective of helping grow a founder’s idea from business concept to funded startup. The program also retains more than 100 active strategic mentors providing free office hours and discounted services, and provides more than 75 educational workshops and networking events each year. The program expanded in 2017 to accept a greater number of companies in more formalized classes, depending upon where the companies are in their evolutionary growth, and expanded benefits to accepted companies. To learn more and apply to the Preccelerator, visit www.preccelerator.com.
Chief Operating Officer, Preccelerator® Program
Source: Preccelerator Program LLC