About this Program
• • NextFab Ventures • •
We help hard tech entrepreneurs jump-start their business by providing them with hands-on technical and business consulting. In addition to access to state‐of‐the‐art equipment, software, and training, NextFab invests up to $100,000 in every selected team.
Since 2016, NextFab has made over 40 investments in early-stage startups through our RAPID Hardware Accelerator program. Collectively, our portfolio companies have raised over $62 million from angel investors, venture capitalists, and government grants.
• • Ideal Candidates • •
We invest at the intersection of hardware and software. While we’re open to receiving applications from anyone, our ideal team would have 2 co-founders, a physical prototype, a patented technology, and a good estimate of the market size.
• • Application • •
We accept applications on a rolling basis.
• • Location • •
Please note that we can only invest in US-based startups (preferably in the Mid-Atlantic region). Non-US startups won't be considered for funding.
• • Funding • •
We invest up to $100k in each accepted venture. In addition, we connect you with our network and share additional funding opportunities. There’s also opportunity for follow-on funding.
• • Access • •
Membership to NextFab state-of-the-art facilities for you and your team. You’ll gain access to experienced engineers and a community of hardware entrepreneurs.
• • What differentiates us from other investors? • •
We are entirely focused on working with hardware startups and our state-of-the-art makerspace facility in South Philadelphia serves as a one stop shop for all their prototyping needs. The selected teams will get funding and direct access to NextFab’s Product Development staff. Think of them as an extension of your team. We’ll offer you advice, make introductions, and fill skill gaps or relieve bandwidth constraints that are preventing you from reaching development milestones. In addition to all of this, we’ll introduce you to mentors and experienced advisors, as well as our broader community of talented designers, artists, engineers, and entrepreneurs.
• • What are some common reasons for rejection? • •
We review every application we receive, but due to the large number of submissions, we do not have the bandwidth to provide feedback to companies who apply for funding. With that said, some of the most common reasons for rejection include the following: an application that is not hardware-specific (e.g., a social media app), small market size, no physical prototype, no intellectual property or product defensibility, not located in the area that we serve, solo-founder or a company that doesn't have people working on the problem full-time.
- Funds up to $100k per team
- Takes up to 2.0% equity
- Accepts 5 companies
Aerospace, Agriculture, Biotechnology, Business Products, Clean Technology