“The reason I put TechLaunch on hiatus mode was because I didn’t see the quality applications to merit investing, even at the accelerator level,” Casabona said. “So, I said, ‘I’ve got to think about this and do a little bit more research and come at it from a different point of view.’”
Based on that research, Casabona said, the new program brings with it a streamlined model to better suit entrepreneurs and investors.
“How do I improve the quality of the deal flow and prepare these entrepreneurs for the investor due diligence process?” he said. “Putting those factors into the equation, what model can I live with?
“That’s how I came up with the BullPen model.”
“I’m looking for three to four companies,” he said, “and — if we like what we see — then we’ll invite you to present at the BullPen.”
The first event is slated for mid-January 2017 and will have a focus on companies whose technology integrates with the growing Internet of Things.
The events will be held monthly and, while the application process is ongoing, Casabona said the accelerator needs roughly a month to process the applications.
To apply to the program, visit the TechLaunch website.
For Sheldon’s full NJBIZ story, click here.