Citrix Accelerator, its graduates must prove staying power

Desirability, feasibility, viability.

These are the three startup qualities 7 young companies attempted to prove Monday at the inaugural Demo Day for Citrix Startup Accelerator’s Raleigh Innovators Program. In three months, the Raleigh innovators fine-tuned business models that tackle overcrowded email inboxes, the cost and quality of video streaming services, home health care management, event video production, too much software (and too many passwords), cord-intense video conferencing and startup talent recruitment. (More on them in a subsequent article.)

The program, which began earlier this year in Silicon Valley, is open to startups and corporate teams building mobile, cloud and collaboration products for business. Each receives a $25,000 grant from the program’s sponsors and three months of mentorship and office space at Citrix’s downtown Raleigh office.

The Innovators Program is new to Citrix, a way to build a network of innovators around the world and vet out potential investments. Last month, it started a program in Bangalore, India, and the accelerator’s managing director John McIntyre told the crowd gathered Monday that more cities would be added in 2015. The Raleigh program will be continued in 2015.

But in many ways, the program, like its innovators, must also prove desirable, feasible and viable. The proliferation of accelerators has been well noted in the national media and many have yet to prove successful. A year ago, a TechCrunch analysis found that 27 percent of accelerator grads raised follow-on funds in the year post-accelerator, and 36 percent raised funds within five. Most from non-prestigious accelerators (like Y Combinator and TechStars) failed. Locally, The Startup Factory founders admit that only now, after three years of accelerating companies, are they confident in the program’s structure, criteria and early wins. Accelerators are risky.

It’s too early to tell how effective this program will be in accelerating young companies—only one company graduated with funds in hand and an executive committee at Citrix will decide whether its two internal projects continue.

But there are some benefits to a corporately funded and supported program like Citrix’s, both for the Triangle and the startups involved.

For Baverman’s comparison, read the full story at ExitEvent.

Note: ExitEvent is a news partner of WRAL TechWire.