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FAQ
How will my team and idea submission be evaluated?
A cohort of judges will assess each submission in the areas of:
- Nuanced understanding of scope and significance of the need they are trying to address and solution that clearly addresses the unmet need
- Inspiring solution that leverages next-gen technology (e.g. 5G, MEC, Data Science, AI, and XR)
- Compelling business model with a clear path to scalability. Understands and addresses customer pain points
What happens after I submit my idea?
We will invite the top companies (based on the above assessment criteria) to be interviewed. They will be re-evaluated against the criteria, as well as for strategic fit with Citizen Verizon’s goals and objectives. Companies that are aligned with those requirements will be extended a formal invite into the Verizon Forward for Good Accelerator.
When will I know if I’ve been selected to participate in the cohort?
We intend to select and inform those companies selected for the cohort on or around January, 29, 2023. Winners will be notified via the email address used in their submission form.
Do I get to keep ownership of my product’s code and IP?
Yes. The entrant remains the sole and exclusive owner of the submitted solution. Read more about this in the Terms & Conditions
How does the funding work?
Upon acceptance into the cohort, the selected companies will be asked to sign a Participation Agreement. Upon signing the Participation Agreement, each company will receive a stipend of $50,000.
Can I still apply to the Accelerator if I have more than 200 employees?
No. The lead applicant and funding recipient must be part of a registered company or LLC that has 200 employees or fewer.
Can I submit more than one application?
No. Companies should submit one application only. If there was an error in your submission, please reach out to curtis@letscolab.io and accelerators@letscolab.io
How mature do you expect my product to be?
We are accepting applications from Seed and Series A companies. We expect submissions to reflect our goal of finding the biggest and brightest technology solutions that will close gaps in health access and outcomes and remove barriers to quality care. We are seeking solutions that have a fully functional MVP (Minimum Viable Product), and are looking to be scaled with the support of additional mentorship resources and Verizon technology solutions.
If I’m selected, what’s next?
Selected winners will participate in the Verizon Forward for Good Accelerator program that will begin in late February 2023 and run through June of 2023. Winners will receive direct access to industry experts, community leaders, and partners and work actively with mentors for guidance and support to further refine their go to market strategy and scalability of their solution. They may also have an opportunity to leverage Verizon technology solutions, which will be determined through the application submission process.
What are the rules?
The rules for the Accelerator can be found here.
What is the timeline for the Verizon Forward for Good Accelerator?
Submissions Open - September 6, 2022
Submissions Close - November 23, 2022
Winners Announced - January 29, 2023
Accelerator Program Begins - February 2023
Showcase - June 2023
Will the Accelerator accept submissions from companies/startups outside the United States?
No. The Accelerator is only open to corporate and non-profit entities organized under the laws of the United States with 200 employees or fewer. Employees, officers and directors of Verizon Corporate Services Group Inc. (“Verizon” or "Sponsor") and its parent companies, subsidiaries, affiliates, partners, dealers, agents, advertising and promotion agencies, and vendors (who are related to the administration of the Accelerator) are not eligible to enter.
Can companies in previous Verizon Challenges/Accelerators apply?
No, winners of previous Verizon Challenges/Accelerators are not eligible for the Verizon Forward for Good accelerator.