Our RAPID Hardware Accelerator is a twelve-week program focused on helping hardware entrepreneurs jump-start their business by providing them with hands-on technical and business consulting. In addition to access to state‐of‐the‐art equipment, software, and training, NextFab will invest up to $25,000 in each of the four accepted teams.
Membership to NextFab state-of-the-art facilities for you and your team. We offer dedicated workspace at NextFab’s 2025 Washington Ave. location. Plus you’ll gain access to experienced professionals and a community of creative entrepreneurs.
We invest up to $25k in each venture. In addition, we connect you with our network and share additional funding opportunities. There’s also opportunity for follow-on funding.
Workshops on Marketing & Sales, Launching a Crowdfunding Campaign, Product Development, Investment Readiness, IP Protection & Licensing.
We love helping hardware startups refine initial prototypes and complete product development. NextFab provides hands-on technical and business support to help you achieve product-market fit.
NextFab’s team creates and shares a custom plan and roadmap with each of the participants in the program based on their application, previous conversations, and on-boarding session. Subsequent consultation sessions are based on this initial plan and needs, but changes could be made to meet the participant’s new strategic needs uncovered during the acceleration period.
Applications Open: December 1, 2018
Application Deadline: February 15, 2019
Phone Interviews: February 18 - February 28, 2019
In-person Meetings: March 1 - March 8, 2019
Due Diligence: March 15, 2019
Investor Presentations: March 18 - March 22, 2019
Announce Teams: March 26, 2019
Start of the Program: April 4, 2019
Graduation: June 27, 2019
Developing a prosthetic alignment platform for improving patient care and practitioner efficiency.
A digital drug therapy company building connected solutions to help people quit addictive substances, starting with nicotine.
Building a system that helps landscape professionals and home gardeners grow more plants with less work.
Developing an intuitive six-degree-of-freedom joystick for gaming, VR, CAD, drones, and robotics.
We are entirely focused on working with hardware startups and our state-of-the-art makerspace facility in South Philadelphia serves as a one stop shop for all their prototyping needs. The selected teams will get funding and gain access to a dedicated desk, the opportunity to meet mentors, experienced advisors, and become part of a community of talented designers, artists, engineers, and entrepreneurs.
Applicants and participants in our programs are discouraged from disclosing confidential information about their product(s)/device(s). You are solely responsible for your own intellectual property. We respect the confidentiality of your ideas, but similarly to other organizations in the startup ecosystem that are engaged in reviewing hundreds of business plans and ideas, we do not sign non-disclosure agreements (NDAs).
All events will take place at NextFab’s main location at 2025 Washington Ave.
We usually accept 4-5 teams or individuals for each cohort of the RAPID Hardware Accelerator program.
Yes! RAPID participants will be matched with mentors as part of the program.
Yes, we provide seed funding for RAPID participants (up to $25,000 per team). We can provide follow-on capital based on your progress in the program.
NextFab’s $25,000 investment will be in the form of an S.A.F.E. instrument or Simple Agreement for Future Equity. Using this type of investment keeps legal costs low allowing for each company to spend more on de-risking their product to attract future investment. In short, no equity will be initially exchanged for entrance into the RAPID program. NextFab’s investment will convert to equity once a company raises an equity round of financing.
While we’re open to receiving applications from anyone, our ideal team would have 2 co-founders, a physical prototype, a patented technology, and a good estimate of the market size.
No. However, we have a preference for startups incorporated as Delaware C-Corporations.