Frequently Asked Questions

Our answers to questions that people have or should have.

Who We Are

  • We are an accelerator based in Indianapolis, Indiana, specializing in HardTech, ClimateTech, Materials Science, Sustainability, Industry 4.0 and the Circular Economy. Our parent company, The Heritage Group, is a privately held organization with 30+ operating companies. We work with product-based solutions in or adjacent to specialty chemicals, environmental services, transportation infrastructure, Industry 4.0, renewable energy, advanced materials, as well as novel software solutions for HardTech.

    If you’re not sure if your startup is a good fit, please reach out. We love to talk with founders!

  • The Heritage Group (THG) is a family-owned and privately held business managing a diverse portfolio of operating companies in heavy construction and materials, environmental services, and specialty chemicals. THG employs thousands of people around the world, with operations across North America, Europe, and China.

    Driven by innovation and research, THG’s in-house R&D team specializes in helping our diverse set of companies evolve and adapt to a changing marketplace by providing cutting-edge solutions and exploring new opportunities in its state-of-the-art facility in Indianapolis, IN.

    THG has a rich history of making successful strategic acquisitions, building partnerships, spinning out startups from internal innovations and expanding our core businesses.

    While we’re a family company at heart, innovation is in our DNA. We build long-term relationships with our customers, vendors, and partners so we can create a safer, more enriching, and sustainable world.

  • The Heritage Group is uniquely positioned to leverage our expertise in HardTech to help accelerate the growth of startups in a variety of ways. With more than 30 operating companies across several core verticals and world class R&D facilities, THG is positioned to provide robust mentorship, R&D experiments/testing and coveted pilot opportunities to startups in the HardTech sector.

    Our 13-week intensive accelerator goes beyond standard benefits such as investment and programming by offering access to lab services, practitioner mentors, investor connections and potential pilot opportunities with one of our more than 30 operating companies and corporate partners.

    The value of this opportunity is best expressed by THG Accelerator alumnus Brian Spicer, Co-Founder of Innovakote, “This was an incredible opportunity as a founder, and The Heritage Group is an organization that really cares. I learned more in 3 months than I have in years of experience in business. I give this opportunity the highest endorsement!”

  • Pilot opportunities with affiliate companies

    Access to in-house lab resources

    MentorLABs with curated group of industry professionals with relevant knowledge and network

    Access to top-rated investors-in-residence

    $150k convertible note (with no upfront equity)

    State-of-the-art facility with accelerator space

    Targeted program workshops

  • HG Ventures is part of The Heritage Group and works closely with The Heritage Group Accelerator. In fact, several of the principals of HG Ventures act as Investors-in-Residence during our program.

    While our founders do interact with the HG Ventures team, formal pitching to HG Ventures is not mandatory. Participation in the Heritage Group Accelerator does not guarantee funding by HG Ventures.

Logistics

  • The Heritage Group Accelerator is a 13-week, in-person program. Founders are required to be in Indianapolis at least 90% of the workdays during program. We have dedicated workspace for our startups at The Center and founders have access to our state-of-the-art facilities.

    We understand that residence in Indianapolis for 13 weeks can be daunting, but we have found that being here in person enables our startup to take greater advantage of our lab resources, engage more frequently with their mentors, visit targeted works sites and general make greater progress during the program.

  • Short answer: Yes.

    We require our startups to have at least one founder present at The Center throughout our program. You’re going to want to be here to have greater access to our network of industry experts, our lab analysts and others who can make things happen for you.

    Learn more about Indianapolis and how you can make the most of your time here.

  • Our selection process is both thoughtful and straightforward. Our primary goal in selecting a cohort is to find the startups that we believe we have the greatest opportunity to help. We ask our team of technical, business and investment professionals which companies can derive the greatest benefit from our operating companies? Where can our network of suppliers, customers and vendors provide the greatest insights? Which startups do we believe we can play a pivotal role in scaling?

  • The Heritage Group Accelerator offers a $150k convertible note to each startup accepted into our cohort. The costs associated with living in Indianapolis for 3 months can be covered with this investment.

  • Indianapolis is a thriving midwestern city. We are the amateur sports capital of the world with world-class professional sports ranging from football and basketball to auto racing, soccer and more. We have a thriving arts and music scene as well as being a top-ranked foodie scene.

    For outdoor enthusiasts, we have state and national parks for hiking, biking, kayaking and exploring.

    We have orienteering clubs, rock climbing clubs and organized biking, walking and running events summer through fall.

  • Indianapolis is the #1 leader in manufacturing. Forbes Magazine called Indiana the Hardtech Corridor because we have the STEM Universities, the industrial infrastructure, the talent and access to the customers in our backyard. Add to all of that, the low cost of living and Indiana is the perfect place for a hardtech startup.

  • The Heritage Group Accelerator is a 13-week, in-person program. But the relationships we build while you’re here last a lifetime.

  • Our 2024 cohort begins July 29th and runs through October 22nd.

    Be sure to mark your calendars (and the calendars of your families, colleagues and friends) for October 22nd, 2024. That is the day of our Hardtech Showcase where founders pitch to hundreds of industry experts and HardTech investors.

  • Apply anyway. There is a lot of value in going through the application process. You will have a chance to talk with the Accelerator team and beging building those relationships. Should you decide to move foward, you’ll connect with technical and business analysts who provide valuable feedback and ultimately you may have a chance to pitch to our selection committee which includes hardtech investors who will provide feedback and insights.

  • The Accelerator is looking for HardTech, ClimateTech, Materials Science, Sustainability, Industry 4.0 and Circular Economy, early-stage startups (pre-seed to Series A) interested in working with experienced entrepreneurs and innovators to drive growth and disrupt industry practices.

    SaaS companies supporting industries adjacent to The Heritage Group companies are also encouraged to apply.

  • The Accelerator team will pre-screen applicants and stay in touch with them throughout the process.

    By late May, top finalists will be reviewed by a screening committee and THG accelerator team may reach out for another round of questions with those founders.

    Final decisions will be made after virtual pitches with our Selection Committee and communicated no later than June 24, 2022.

  • Fill out the application here.

  • If you believe that you need to make a change or update that materially affects the nature of your business or application, please reach out to our team.

  • The Heritage Group Accelerator is looking for HardTech, ClimateTech, Materials Science, Sustainability, Industry 4.0 and the Circular Economy startups with a working prototype and at least 2 full time employees or founders. Given these requirements, we prefer founders who are focused on one business.

  • The application process is scheduled to close on May 12th but if you have missed that date, please reach out to our team.

  • If you have submitted an application, you should have received a confirmation email. If you do not have confirmation, please reach out to our team.

  • Unfortunately, we have a new application process and cannot access applications from previous years. However, the application itself shouldn’t take more than 15 - 20 to fill out.

  • First, thanks for applying! We are happy to include non-US startups and welcome the opportunity to learn more about what you are doing. Second, while there is no need for any extra work in the application process, should you move forward, the Accelerator will assist you in the visa process.

The Application

  • We will notify you of final acceptance into The Heritage Group 2024 Cohort no later than May 31st, 2024.

  • Upon acceptance, we will issue Term Sheets and Final Notes. We will also require a background check for all team members coming to The Center and ask that you sign a code of conduct agreement. We will also need basic diligence documents and will issue that list during the process.

  • The Heritage Group Accelerator has a standard deal for all our investments. We invest $150,000 via a convertible note. We do not take any upfront equity.

  • You can use the THG Accelerator investment for anything related directly to furthering the business. In most cases, the first use of the funding should be for the founders to support themselves so they can work full-time on the company. Funding can also be used to cover living expenses during program in Indianapolis, IN.

  • The Heritage Group Accelerator uses a convertible note for funding.

  • The Heritage Group Accelerator does not take upfront equity. We have a standard deal for all of our investments that is based on a convertible note which of course may convert to future equity.

  • The Heritage group Accelerator LLC will be on the cap table of any companies accepted into the final cohort.

  • Startup life - right? While we can’t promise you’ll get in, we still want to hear from you! Reach out to our team as soon as you can and we’ll figure out next steps together.

Acceptances

  • A lot of this and this and quite a bit a this too.

  • Companies will begin working with THG professionals to identify LEAP (Lab testing, Experiment, Audit/Assessment and potential Pilot) opportunities immediately upon acceptance into the accelerator. Our THG team will help founders design and execute LEAP projects throughout the 13-week program.

    Additional programming such as mentorship, topic-specific workshops, and other programming will be provided to support the companies with their growth and scaling goals.

    The team will also enjoy the best the City of Indianapolis has to offer, including off-site activities at local bars, restaurants, and other cultural venues, as well as giving back to the community through days of service.

  • Pilot opportunities will take place at The Heritage Group company and/or customer locations in the U.S. (most likely in the Midwest).

    Founders may seek interaction beyond just pilots. Our LEAP Model includes

    – access to the lab resources

    – thought partners to help with design of experiments

    – audits at customer sites or our sites

    – pilots where it makes the most sense.

  • Our goal is for the startups going through our accelerator to be investable, either by us or by a member of the VC community. As the Accelerator and other THG team members build a positive and trusting relationship with you and your company, we expect investor introductions to open.

  • The Heritage Group Accelerator operates from our state-of-the-art headquarters that we refer to as The Center. Our founders will enjoy a dedicated workspace with additional conference rooms for hosting meetings. All our conference rooms include AV equipment and white boards. We also have a cafe with drinks and snacks available, a fitness facility, 3 miles of hiking trails and more to enjoy.

  • We like to work hard and play hard. We have a sand volleyball court, a workout facility, a meditation room and 3 miles of hiking trails on our campus for our founders to enjoy. In the evenings and on weekends, our cohort will enjoy everything from box seats at professional sporting events to music festivals and salsa dancing to “family dinners” at local restaurants. Our Sr. Coordinator, Larissa will work with cohort to plan events that cover everyone’s interests.

  • Our demo day is called The Heritage Group Accelerator’s HardTech Showcase and has been called the gold standard for demo days in the Midwest. We have an amphitheater at The Center that we call the Quarry which holds up to 300 people. We work throughout the program to connect our founders with industry professionals, potential customers, mentors, suppliers and investors who all come together on that final day to celebrate the progress each startup has made.

Program

  • YES! We are looking for promising HardTech, ClimateTech, Materials Science, Sustainability, Industry 4.0 and Circular Economy startups from across the globe.

    We recommend getting your passport ready when you apply, and we can help you with your visa application once we announce the final cohort.

  • No. If you are incorporated in your home country, there is no requirement to have a US entity.

  • Yes! Once we announce the final cohort we can assist you in the visa process.

International

Investment

  • Accepted companies in cohort will receive a $150,000 investment. Non-monetary benefits include access to a R&D resources (lab + analysts), valuable professional training (strategy, financial modeling, sales training, product development and customer pipeline development), access to industry mentors as well as the opportunity to pitch for pilots.

  • Our investment is in the form of a Secured Convertible Note.

  • Straightforward. All companies are given a $150,000 USD investment via a secured convertible note. Keep in mind, this is just our ‘cash’ investment in you and your startup - access to our world-class R&D lab, pilots and subject matter mentors are the primary value drivers of The Heritage Group Accelerator’s investment in your company.

  • In order to receive the investment and non-monetary resources, you must be present in Indianapolis and participate IN PERSON at our Accelerator facility. Additionally, you will need to abide by the Accelerator’s and The Heritage Group’s code of conduct.

  • Please reach out to the Accelerator team to discuss this.

  • In general, no. We are reasonable about individual company circumstances but need to maintain standard terms in order to be fair to all participants.

  • Wires will go out on Day 1 of the Program for $100,000, as well as $50,000 on Demo Day.

  • Our lab resources may be available to cohort companies post-program subject to Heritage Group R&D staff availability. Required future testing should be approved and scheduled prior to the completion of program.

  • Your focus during the program is to prepare your company for investment via mastery of product development, customer relationships and scaling. The accelerator will give you the tools for success and even facilitate introductions, when appropriate. However, the onus is on YOU to get your company over the finish line and onto the radar of investors you feel are an ideal fit.

  • SAFE Notes are great investment vehicles for angels and friends and family investors, but The Heritage Group Accelerator will only issue a Secured Convertible Debt Note to accelerator participants.

    Additionally, if your company has outstanding SAFE notes with a Most Favored Nation (MFN) clause in the note, please convey to those investor noteholders that due to the unique nature of our accelerator, our value add and investment, that the MFN terms and trigger should not be applicable to our convertible note.