The re-launched Innovators Program Raleigh could actually turn into a much larger program based on a partnership and new venture formed by the CEO of Venture Toolkit and HQ Raleigh. In fact, “program assets” from a closed down Citrix accelerator program have been “transferred” to the new venture.

As WRAL TechWire reported earlier, the Innovators Program in Raleigh is seeking applicants for a third group of startups that will receive $10,000 grants, participate in a three-month accelerator program, and be eligible for more mentorship as well as another $50,000 in funding down the road. Whether the program would return in 2016 was in doubt when Citrix began winding down its own accelerator program late last year due to budget cuts and reorganization.

A new venture, in fact, has emerged, led by Nick O’Connor, the CEO of Silicon Valley-based Venture Toolkit, and HQ Raleigh. O’Connor, who worked as an advisor to Citrix for three years to help create and run its internal accelerator program, is managing director of the new venture.

“Previously Citrix hired me to develop and then run the innovators program, going forward Citrix will be a sponsor of the program. Innovators Program Inc will be responsible to run the program,” O’Connor explains.

Liz Tracy of HQ Raleigh is on board as one of the Innovators Programs’ top trainers.

And look for the new venture to possibly branch out to other accelerators.

“In the future we plan to run the Innovators Programs outside the Raleigh area too, if it makes sense to partner with other incubators and accelerator programs to deliver a quality program then we will do so,” O’Connor tells The Skinny.

O’Connor still runs Venture Toolkit, which works with large companies to find and maximize internal startup opportunities. But he’ll be seeing a lot of Raleigh.

“I will not be moving here full time but will be here a lot during the program and will have local staff from HQ Raleigh support the program,” he explains.

O’Connor didn’t divulge any of the details surrounding the partnership, and HQ Raleigh didn’t respond to queries from WTW about the deal. O’Connor simply described it this way: “Yes, we have partnered and have incorporated Innovators Program Inc.”

His LinkedIn profile notes that he is “Managing Director” of Innovators Program. He describes the new venture this way:

“We are a community of startup alumni founders and intrapreneurs. We run 3 month programs where both startup founders and internal innovation teams get coaching and mentoring in startup best practices on how to build new technology businesses.”

HQ Raleigh’s leaders and O’Connor are hardly strangers as they begin a new relationship. O’Connor notes that “we have been working together for the past three years planning and running innovators programs in Raleigh.”

Innovators Program also begins with continuing support from Citrix and Red Hat. The two firms are the funders for startup grants, O’Connor says.

Plus, Citrix and Red Hat teams will form five of the 10 startups selected for the third accelerator cohort.

Innovators Program also inherits “program assets” from Citrix which were “transferred” to it, O’Connor adds.


Snapshot: Innovators Program

Source: Innovators Program website

The Innovators Program is completely unique in the way that it combines Fortune 500 company internal innovations teams and external startups to come together in an immersive learning experience.

The Innovators Program startup friendly terms,
1. $100K in grants for 5 startups
2. World class programing
3. Introductions and guidance from industry leaders
4. Follow on growth program and access to seed funding

Allow us to attract top local and national startup talent.

This allows Fortune 500 companies to get great insights about what is happening in the external environment and helps preserve the culture of innovation and intrapreneurship within the company.

We are a community of startup alumni founders and intrapreneurs. We run 3 month programs where both startup founders and internal innovation teams get coaching and mentoring in startup best practices on how to build new technology businesses.


We have run programs in the following locations
Silicon Valley
Bangalore
Santa Barbara, CA
Raleigh, NC.

Our next program is in Raleigh NC, click here for more information http://innovatorsprogram.co/