Santa Cruz Works launches Online Accelerator platform powered by OneValley to enable local business
SCW transforms accelerator program from in-person to fully virtual to continue supporting Santa Cruz startup ecosystem
Bolsters program offering through its partnership with OneValley’s entrepreneurship platform Passport
SAN MATEO, Calif., December 14th, 2021 -- Santa Cruz Works (“SCW”), an organization focused on the development and growth of local entrepreneurs and businesses in Santa Cruz County, has relaunched its successful accelerator Santa Cruz Accelerates as a virtual program in partnership with OneValley, a global entrepreneurship platform headquartered in Silicon Valley that supports entrepreneurs, accelerates startups, and empowers organizations across the world that foster innovation communities.
As SCW began planning its 4th cohort of their accelerator program geared towards helping build sustainable equity and growth for entrepreneurs, they faced 3 key challenges:
1) Transformation of in-person learning to a virtual curriculum due to COVID
2) Expansion of the local network to provide a world-class support system
3) Zero dilution for the participating startups
Addressing each challenge was vital for SCW to continue supporting the Santa Cruz entrepreneurial community, with over 11,000+ members, and several successful exits of startups that have gone through the program with over $125 million in raised funding.
“In the past 3 cohorts of Santa Cruz Accelerates, our startups had to attend in-person classes and workshops” said Doug Erickson, Executive Director of SCW. “With the pandemic, we needed a flexible, virtual solution. We also wanted to incorporate our archive of clinics and knowledge-base we had created over the past 5 years.”
After an intensive 10 week search, OneValley was appointed the innovation services and build partner to transform SCW’s program to an online global support platform, powered by OneValley’s Passport, a global entrepreneurship platform connecting startups, enterprises, universities, and other groups cultivating communities in support of entrepreneurship.
“OneValley is well positioned through Passport, to support Santa Cruz Works in making an important resource and support program accessible to the Santa Cruz based startup ecosystem” says Nikhil Sinha, CEO of OneValley. “This is an exciting partnership and opportunity to engage not only SCW’s current community through the virtual accelerator program, but expand its reach and offering through world-class support networks including mentors, founders, resources and support tools available through our Passport platform.”
OneValley delivered a customizable experience tailored for startups at any stage of the entrepreneurial journey. Early stage startups can learn and find mentors to develop their ideas and teams, while later stage startups can focus on areas that accelerate their development, such as IP and funding. The entire curriculum is self-paced and online.
Established in 2015, SCW plans to build on its current success with 10 companies having successfully completed the program, of which seven having successful exits including Jane Technologies having recently closed $100M Series C funding, and Cruz Foam closing $2.5M seed funding with investments from Sony Innovation Fund, At One Ventures, Regeneration.VC, and Santa Cruz Works. To find out more about Santa Cruz Works and the newly relaunched Santa Cruz Accelerates virtual program, visit www.santacruzworks.org.
About Santa Cruz Works
Santa Cruz Works is a 15-year old nonprofit focused on growing the tech ecosystem in Santa Cruz and Monterey. The accelerator - Santa Cruz Accelerates - has funded 10 startups over 4 years, with 7 exits. Santa Cruz Works has 11,000+ members. For more information about Santa Cruz Works, visit www.santacruzworks.org.
OneValley is a global entrepreneurship platform headquartered in Silicon Valley, that supports entrepreneurs, accelerates startups, and empowers organizations across the world that foster innovation communities. OneValley directly supports over 60,000 members and indirectly another 200,000+ through our enterprise partnerships and platforms, powered by our online platform Passport, the world’s most comprehensive innovation platform connecting Silicon Valley to the World and the World to Silicon Valley. For more information about OneValley, visit www.theonevalley.com.
For further information please contact:
Santa Cruz Works
Executive Director, Santa Cruz Works
Vice President, Global Marketing, OneValley
“Historically we saw on average 3-8 startups per cohort” says Mr. Erickson. “We have over 35 startups in our 4th cohort which we can easily manage via Passport.”