How the Program Works/The Process
Once you become a nxtARROW client we help you launch, re-launch, or expand your business in Buffalo as quickly as possible. Typically the process of becoming a client and receiving services and benefits works like this:
- Application for Admission to nxtARROW incubator, accelerator or concierge program is received, reviewed and approved. A non-refundable deposit of 200 USD is required at the time of application
- Agreement: If accepted, a program admission agreement is negotiated and is activated with the payment of admission up-front fee and agreement to future considerations as negotiated
- Business Plan Review: This may be done as part of the application process, however more work may be needed on the business plan. If so, the client will be referred to experts to help complete the plan
- Branding: Once the business plan is ready for implementation a branding review will commence, by one of nxtARROW's corporate partners. The goal: create Fortune 500 quality branding for the new venture and its products and services. This includes logo, company name, product/service name(s), website design, development, and implementation. Separate vendors may provide web design, web development, and web hosting services.
- Legal Review: Needs and issues relative to incorporation, intellectual property protection and other legal services relative to the launch and early operation will be reviewed, assessed, and addressed by our legal partners. This process is typically concurrent with branding.
- Financial Review: Initial financial services needs will be reviewed, assessed and addressed by one or more of our partners and vendors, including preparation for fundraising efforts, issuance of stock (public or private) as well as routine bookeeping, accounting, etc. This is typically concurrent with branding and legal review.
- Location: Office space, manufacturing space, retail space and/or warehouse space will be arranged and provided, with availability to coincide with launch date if not sooner.
- Launch: Public relations, marketing and advertising needs relative to the launch will be reviewed, assessed and addressed by one of our corporate partners or vendors, and the company's launch will be managed and coordianted by the appropriate experts. Ongoing public relations, advertising and marketing needs will also be managed, but may be handled separately, by another vendor.
- Various Ancillary Services including business systems analysis, efficiency and technology analysis, human resources services, back office support, sales training, social media training, etc. will be provided as needed according to the client's individual, customized service plan.
- Advocacy and Support: nxtARROW will arrange or directly provide additional services such as advocacy, cross-promotion, mentoring, coaching, etc. for all clients as needed. Mentors and coaches will typically be recognized experts in their respective fields, as avaialble.
All of the above services and benefits are provided to clients at no charge during the first year. Ongoing services, including space, will be provided free for the first year of a multi-year service agreement, with subsequent years' billed at local market rates. One-time services and benefits will be billed on a one-year deferred basis, with terms for payment on the first day of the second year to be negotiated.
For a list of provider network vendors see "Corporate Partners."