The program has graduated more than 80 companies, who have gone on to generate a combined revenue of nearly $100 million with an employee base of more than 750 people.
TechX is a 12-week revenue accelerator designed to help companies address three major problems: generating more leads, closing more business, and keeping more customers. The Utah-based accelerator is currently accepting applications for companies looking to participate in its next cohort. The application deadline is August 16th. (So, tomorrow — if you’re interested, you should hurry and get your application in now!)
Unlike most accelerators, TechX doesn’t take equity in the companies who join its program, and it’s completely free for the companies who are accepted to participate.
While managing an investment portfolio, TechX founder Roger Andrus came to realize the biggest obstacle to scaling a company is having the right system in place in order to grow at a steady pace.
“TechX is a unique vehicle that companies can tap into to 1) prepare themselves for funding, 2) prepare themselves for organic growth, and 3) to accelerate their growth and to gain access to information they wouldn’t otherwise have,” said Andrus.
TechX has a wide array of impressive mentors who work with participating companies to help put them on the path to profitability.
“They are willing to donate their time and expertise to our companies for 12 weeks as kind of a give-back to the community,” said Andrus.
The program has graduated more than 80 companies, who have gone on to generate a combined revenue of nearly $100 million with an employee base of more than 750 people. According to Andrus, the program has helped its participating companies increase their sales by an average of more than 51 percent. In a survey of its graduates, the accelerator received an overall score of 8.32 on a scale from 1-to-10 when asked to rate the overall impact TechX had on the performance of their companies.
TechX held an event Thursday night at the Corporate Alliance building in Provo to help introduce potential applicants to the program.
I was honored to have the opportunity to speak about Utah’s unique startup ecosystem at last night’s event, and to help attendees better understand what we’re trying to do here at Beehive Startups to help spread the word about everything that’s happening within our state. Beehive Startups is also a proud sponsor of TechX.
To learn more about TechX, or to apply to the program, visit their website.