Gazelle Lab is a community initiative in every aspect of the program - from our entrepreneurs, to our investors, to the media, to our mentors, to the business and technology communities, to the outstanding partners below. We all take a long-term view when it comes to developing Florida's entrepreneurial ecosystem... and we invite you to participate, apply to Gazelle Lab, or, even better, allow us to support your own program!
"We are building sustainable entrepreneurial communities." - Brad Feld, Co-Founder of TechStars
We are very selective. Gazelle Lab only accepts about ten companies into each program. Getting in is hard, and it means something special. Are you among the best? Apply to Gazelle Lab now!
Seed funding. Gazelle Lab fills the startup funding gap by providing just enough capital to get your idea off the ground. Your new company receives up to $18,000 in seed funding.
Advice and Mentoring. Gazelle Lab fills the experience gap by bringing together the best and the brightest in one place and surrounding you with incredible proven mentors for the three months. With this much talent in one place you'll get great advice on your product and strategy, thereby ensuring the best possible start for your new business.
Connections. Gazelle Lab companies get immeasurable benefits that come from introductions and connections to potential partners and customers. At the end of the program, each company also has the opportunity to pitch during an investor event that we organize.
A great deal and a great co-founder. In exchange for the Gazelle Lab program, seed funding, advice, mentorship, connections, and investor demo day, Gazelle Lab receives a 6% equity stake in your new company. Gazelle Lab receives "founders stock" which is common stock, just like yours. We want to be thought of as an experienced and well-connected co-founder so we have the same risk and reward system that you do.
Each company funded by Gazelle Lab can receive over $85,000 in free perks offered from over 25 of the best vendors in the world, including:
- $60,000 in Microsoft Azure Credits
- $10,000 in PayPal Transaction Credits
- $6,000 in Rackspace Hosting Credits
- $5,000 in Public Relations Support from the Metzger PR Firm
- $3,000 in Human Resources Support from Premier Employer Services
- $1,000 in Amazon Web Services Credits
Frequently Asked Questions
How much funding do Gazelle Lab companies receive?
You get $6,000 per founder, up to 3 founders. So at most, you'll get $18,000 in seed funding. We've proven that this is plenty of money to survive for three months and to crank out a substantial prototype so you can get to the next level. You also get a free server hosting, a nice place to work if you want to, legal services, and more. Finally, there is immeasurable value in the connections and advice that you'll receive when you start your company with Gazelle Lab, and also in the opportunity to pitch to angel investors and venture capitalists at the end of the program during our Demo Day.
But that is not all, Gazelle Lab receives 6% of the equity in your new company in exchange for seed funding of up to $18,000 and extensive mentorship during the program as well as a chance to present to angel investors, venture capitalists, and top media at Demo Day.
Many people also ask what sort of "company controls" the Gazelle Lab stock will include. They want to know if they have to give up board seats or other decision making rights. The answer is no - NONE. We want to be considered a co-founder, so we don't want stock that has any special rights or controls that you don't have yourself. That's why we refer to it as "founders stock."
Some people ask if Gazelle Lab is really worth 6%. We think it is worth much more, and so do all the past founders we've had in the program. 75% of companies who have gone through TechStars programs in the past have ultimately received additional angel funding or venture capital or have become profitable by the end of the program.
Gazelle Lab receives common stock, just like you get as a founder. If you take on significant additional investment in the future, Gazelle Lab stock is subject to dilution just like yours. After the program, we're vested to continue to help you succeed. However, the company will continue to be fully yours to run as you see fit. We ask for no board seats or other types of control - it's your company.
What sorts of companies do you fund?
We fund technology oriented companies, typically these are web-based or other software companies, but we've funded companies that don't quite fit that mold as well. We're also looking for companies that can have national or worldwide reach. Specifically, we don't fund medical device companies, biotechnology companies, restaurants, consultancies, or other local service oriented companies.
Why does Gazelle Lab need and want stock in my new company?
Like you, we're entrepreneurs. We think that the value of the learning, networking, and coaching provided by the program is of tremendous value. The Gazelle Lab program will provide you with the healthiest possible start and greatly improve your chances for success and sustainability. Once we invest, we're motivated to help you succeed by introducing you to people who can help, assisting you with strategy, finding more investors, and generally helping you to succeed. That's a good deal for both of us.
Is my company "too far along" to apply to Gazelle Lab?
Probably not. TechStars programs have had companies start with $1M+ in revenue and $1M+ in funding. Likewise, nothing is too early. We've accepted companies with no more than an idea, a dream, and maybe a dog.
Do I have to be there for the entire quarter?
No. It's your company so you can come and go as you see fit. But we do require that you be primarily based here during the program. This benefits you because you can take advantage of the numerous learning opportunities, networking and coaching that will be provided. Gazelle Lab is a major commitment, and we expect you to be around most of the time.
Do I have to stay in the Tampa Bay area when the program ends after 3 months?
No. It's your company, so you'll live where you want to.
How can we get funded after Gazelle Lab ends?
We provide the seed funding to get you going, but you may well need more funding to really make it. Near the end of the three month program, we'll organize a Demo Day where angel investors and venture capitalists from all over the country will check out your technology and listen to your pitch. We'll coach you so you're as effective as possible, and do everything we can do help get you follow on funding. We may also fund your company further ourselves in some situations.
What if my company doesn't ultimately succeed?
Well, at least you tried. Because not just anyone is accepted into the Gazelle Lab program, you'll have an impressive resume item for your next gig that will look way better than almost anything else you could have spent your time doing. And you will have met a large number of smart and well-connected people who can help you tremendously with whatever you do next. Hopefully that will be another startup.
I'm a single founder. Can I get accepted into Gazelle Lab, or do you only look for teams?
While we don't screen applications just because they have a single founder, it does make things more difficult. We look for great, balanced teams who have a full range of skills. We strongly advise you to seek co-founders who balance your skillset. For example, if you're a strong developer, you might consider adding someone with business and/or marketing experience. If you're a great business evangelist with no developer, it's very unlikely we'll accept you into the program, so go find a rock star developer to join you.
Where will we live while we're there?
That's up to you - we don't provide a place to live. If you're accepted into Gazelle Lab, we immediately assign someone on our end to help you find housing. It hasn't been much of a problem for past founders.
How do you choose which companies to accept into the program and to fund?
We will choose great founders who are proposing products that solve real problems or create meaningful innovations. For us, it's about the team. Because of this reason, we're less likely to accept single founder companies. The best things you can do to strengthen your application are:
- Round out your team with business, technical, and other necessary skills.
- Make progress on your prototype or product and reference it in the application.
- Show us you've really thought about your business and have gotten off your butt to do something about it.
Is my age a factor in your selection process?
No, but if you're a young entrepreneur it's important that you understand what else might be a factor. The typical age range of our founders is 25-40 years old.
Do I need to send in a business plan?
Nope. Just fill out the informal online application - that's all you need for us. In fact, we probably don't want to see your business plan if you have one.
Can I apply if I'm not from the United States?
Yes. As long as you and your team can be in the USA legally for the duration of the three month program, please do.
I'm concerned that if I apply, you won't protect my intellectual property. Should I be worried about this?
We're certainly not in the business of stealing ideas, and we won't show your application to anyone outside of Gazelle Lab. Each year, we see hundreds of applications and many of them include similar ideas. For this and other practical reasons, please don't ask us to sign an NDA. Our application does not ask for your "secret sauce", and there is no reason you have to disclose this to us if you're not comfortable doing so. We hope that our reputations speak for ourselves on this topic.
My team outsources software development. Are we still qualified to apply?
Yes. We think it's best not to outsource what you are, but it obviously works in some cases. We're happy to consider any application. Just remember that we're primarily focused on the team.