SproutBox launches a new company every three months. During a 10 month cycle each company (affectionately known as a Sprout) receives $200-$250K worth of services and just enough cash to stay focused. By mitigating initial distractions (fundraising, hiring, workspace, benefits, legal, etc.), we allow entrepreneurs to do what they do best: build a great product. Instead of the traditional model of ramping up expenses and de-emphasizing revenue, companies exiting SproutBox have minimal recurring expenses, a clear revenue stream, and a marketable product.
The process begins with an intense selection phase. Sprouts apply and are narrowed down to a handful of finalists. These finalists present to our Selection and Advisory Committee (made up of our investors and partners). Using our group decision making tool (DecideAlready), finalists are rated on six investment criteria and an offer is made. We then assign a dedicated mentor and user experience assistant who work with entrepreneurs to help gather user feedback, narrow scope and develop initial requirements and mocks.
A couple months after selection, we all get together in our facility and set out on an intense 3 month development cycle. The development team, with the direction of the entrepreneurs, spends 4 days a week in iterative cycles-- turning the initial idea into something real. Sprouts then enter a 3 month transition phase, where the focus is on building brand ID and securing a loyal, growing base of customers. During this phase, Sprouts receive a day a week from the development team for bug fixes and touch up, along with assistance in finding new space. If needed, we help find the right talent to round out the Sprout's team and assist in raising additional growth capital.
For more details about the SproutBox process, check out our Application FAQs.
Picture Courtesy of Indiana University
We live and work in Bloomington, IN. It's an incredible place to be. It fosters a new startup culture that has the ingredients for success: a great university, a vibrant downtown, a beautiful landscape, fantastic food and arts, a low cost of living and a solid tech community.
The Box is SproutBox's 3,500+ sqft facility located on the B-line walking trail just south of downtown Bloomington. Don't worry we brought the same feel to our new space with high ceilings, wall art, and all of the arcade games. Our main area is set up in clusters of desks, allowing for group collaboration at anytime. If you need some quiet time, you can hop into one of our private offices, the conference room, our recliner filled screening area, or step out on our deck.