South Bend-based INVANTI has launched a $2 million Beta City Fund and says it is looking for its next cohort of talent. The startup studio says it is seeking “initiators” to take part in a three-month program to guide them from the “pre-idea” stage to a pilot for a scalable company.
INVANTI says “initiators” are people don’t have fully-formed ideas for a business, but “are motivated to solve problems they are connected to and encounter frequently in their home cities and beyond.”
As part of the program, cohort members will participate in a collaborative process to help them understand the problems they want to solve, create a solution and launch a new company. The program will culminate with a $20,000 pitch competition where the founders can earn startup funding through the Beta City Fund to execute their ideas.
“Technology and innovation is commonly something that happens to small and medium-sized cities. We think there is an opportunity to flip that dynamic and have these communities be places where innovation originates – and in a way that serves the residents and their lived experiences,” said Maria Gibbs, managing partner at INVANTI. “We have proven that by starting with people who have skills and experiences to tackle problems coupled with a humbleness to really learn about them before offering solutions, we can create the type of innovation these communities are capable of.”
INVANTI says it is accepting applications for the next cohort through July 22. You can learn more about the program by clicking here.