PHILADELPHIA, Sept. 21, 2015 /PRNewswire/ -- Leading global start up accelerator Dreamit announced today a relaunch of its program, initiating changes that will create even more value for start ups at all stages of the lifecycle through access to the Dreamit network. Avi Savar, a proven entrepreneur, seed investor, and founder of social media agency Big Fuel, will lead Dreamit as CEO and will work alongside Dreamit's founders and leadership to build the next generation accelerator.
Created in 2008 by established entrepreneurs, Dreamit has become a top accelerator in the world, launching over 200 companies that have gone on to raise in excess of $275 million and have an enterprise value of over $1 billion. Some of its successes include breakout companies like LevelUp, SeatGeek, BioBots, Adaptly, and Meerkat.
"Dreamit is building on its strengths to launch a new offering that will redefine what it means to be an accelerator," said Dreamit CEO Avi Savar. "We will continue to focus on what we believe are the most important aspects of building a business, starting by connecting the best companies with the right customers and partners to drive real business velocity. But the market has matured enormously since Dreamit was founded, and we are evolving our offering to meet the changing needs of entrepreneurs, partners, and investors. I'm excited to join this talented team at this critical moment to empower companies to disrupt the industries that need it most."
Notable changes to Dreamit's offering include:
- Emphasis on Industry Track Immersion – Departing from local chapters, Dreamit will offer companies a curated experience that connects category experts, strategic partners and customers across the country around fast-moving verticals. The first two verticals launching in February 2016 are Dreamit Health and Dreamit EdTech – two areas with massive global impact that are rife for disruptive innovation.
- Introduction of Flexible Equity Offering for Later Stage Companies – In order to better serve entrepreneurs at various stages of the lifecycle, Dreamit will now offer later stage companies a no-cash, no-equity offer with an option to invest in the future, as well as a virtual curriculum. For younger companies, Dreamit will continue to offer stipends and office space as part of the Dreamit program.
- Connection to Potential Customers at Critical Points throughout the Program – Building on its focus on customer relationships, Dreamit's new model will incorporate even more touch points throughout the curriculum and prioritize commercial validation at every turn. As part of this, Dreamit will introduce a Customer Roadshow midway through the program to provide entrepreneurs an opportunity to meet with potential partners across the country, test their business assumptions, and position themselves for pilot programs following graduation from Dreamit. Additionally, Dreamit will replace the 1:1 mentorship system with advisory boards studded with industry leaders, giving companies access to potential customers during monthly board meetings, weekly office hours, and daily digital touch points.
Dreamit Founder David Bookspan said, "We are thrilled to welcome Avi to the Dreamit team. A highly respected and passionate leader and innovator, Avi brings deep experience in building companies and brands from the ground up and leading entrepreneurial teams in disruptive industries. He is the right person to lead Dreamit as we evolve and build upon the pioneering tradition that has made us one of the most successful accelerators in the world."
Avi Savar is a highly regarded entrepreneur and an active seed investor and adviser to several media and technology companies. Prior to joining Dreamit, Avi was Founder and Chief Strategy Officer of digital advertising agency Big Fuel which he grew to become the largest pure-play social media agency globally – with over 120 employees and clients that included Walmart, Budweiser, GM, Samsung, Ally Bank, Bridgestone, AFLAC, T-Mobile, Carnival Cruises and more. In June 2011, Avi led Big Fuel to a successful acquisition by French media giant Publicis Groupe. Avi sits on the American Express Digital Advisory Board and acts as an advisor to several non-profit's, including UJA Federation and Grameen America.
Dreamit is now accepting applications for its first two tracks, commencing in February 2016. Entrepreneurs can apply at Dreamit.com.
Ranked one of the top 10 business accelerators in the world by Forbes, the Dreamit network focuses on bringing the right people together to drive progressive innovation and real business velocity. Dreamit has launched over 200 start ups that have gone on to raise in excess of $275M and are collectively worth $1B including LevelUp, SeatGeek, BioBots, Adaptly, Meerkat, and more.