A behind the scenes look at our cohort selection process

Ashley Bryan, Program Manager The Heritage Group Accelerator

I was drawn to The Heritage Group Accelerator because it offers startup founders actionable steps forward, by way of The Heritage Group, a global leader in hardtech with innovation in its DNA. One of the reasons the program is so effective is because it is thoughtful in its selection process––the team designs each year’s program to fit the unique needs of its selected cohort. 

Every year, THG Accelerator hosts 8 to 10 startups who are transforming their industries, from construction and materials to specialty chemicals, wastewater, and other hardtech with an emphasis on sustainability and circularity. During the 13-week program, we leverage more than $1 million in lab resources to support our founders as they develop and test their products. Founders work directly with mentors in their industry and take part in professional business and leadership development programming. We’re able to provide access to The Heritage Group’s 6,000+ employees and 30+ operating companies worldwide. 

We spend months talking with candidates. We attend conferences and tradeshows; we reach out to other accelerators and VCs. We also work with universities to identify emerging technologies with early but strong startup teams. In the spring, we begin reviewing applications from around the world. We evaluate the applicants based on several criteria, starting with how they align with the mission of The Heritage Group. 

But we’re not just looking for startups that fit us. We’re considering how we can fit the needs of each startup. A large part of our review process is determining our capacity to add value. We consider: Can we conduct the product testing they need to move their technology forward? Do we have the right mentors available? Do we have a partner that could pilot their technology and help them grow? Answering these questions helps us design a program to fit the cohort’s unique needs.

Our screening committee plays a significant role in reviewing candidates and designing the program. The committee includes technical experts and industry professionals from across our operating companies that  help us identify the top 40 applicants that we can meaningfully impact. They consider technical support, business and networking support and even supply chain and customer introductions we could provide.  

Once our technical experts review the technologies and our business professionals identify market opportunities, the top 20 finalists move on to the final selection committee––the HG Ventures team. At this stage, we invite the finalists to pitch to HG Ventures, which is both a great opportunity for the founders and gives us a chance to identify the top 8-10 companies for the accelerator. We make this decision based on our ability to help them and their ability to create a scalable company that will have a significant impact in the future. 

We occasionally come across exciting startups that we’d like to engage with but do not have the capacity to help in that specific year. In these cases, we refer them to our wider network and try to stay connected in hopes of being able to provide value or bring them into a future THG Accelerator cohort. In fact, we have one of those companies in our 2022 cohort. They were one of our top applicants last year but their needs just didn’t align. This year, we have already identified lab testing, product development opportunities and industry mentors for this emerging startup. We’re thrilled to work with this year’s cohort in Indy and are grateful for the many connections we made this summer during the selection process!