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Cohort Application Requirements
LogicBoost Labs is a B2B SaaS (business-to-business, software as a service) startup accelerator. We take pre-seed stage B2B SaaS companies from early revenue through $1MM ARR (annual recurring revenue). Nominally, we expect this process to take up to two years, at which point the company graduates from our accelerator program.*
We provide cash and operational services to qualified startups. We are not a consulting shop, and our services are delivered effectively on a cost basis.
Your company’s main line of business is providing a B2B SaaS solution. LogicBoost Labs is not concerned with the specific vertical/domain.
Recurring revenue must be your primary financial model. Any services or ancillary revenue streams should be incidental (less than 20%).
You have a demonstrable MVP (minimum viable product). If you don't have a product yet, LogicBoost Labs will kindly refer you to an incubator partner.
Early / Pre-Revenue
You must be early or pre-revenue. If pre-revenue, you must demonstrate papered partnerships, letters of intent, or similar indicators of early market validation.
Your solution does not require a custom hardware component. LogicBoost Labs has a focus purely on software.
Your company must be incorporated in the United States.
LogicBoost Labs Provides
Cash on the balance sheet. The average initial deal value is $300,000 – cash and sweat equity combined.
A two-year engagement with a bank of hours equal to 100 days of day-to-day strategy planning and execution with your startup.
Ongoing mentoring and advisory services for two years as you move towards the next step in your startup.
An Executable Plan
We provide a detailed operational plan. As needed, we help build what's needed in sales, marketing, customer success, and technology areas. **
We want to see our partners grow and can provide a convertible note for follow-up funding needs.
Where we fit, where we don't
While we give serious consideration to any company that meets our requirements outlined above, there are some business categories where our team is best suited to provide maximum value.
✅ Best Fit
- SaaS software that directly serves enterprise customers or has a clear path to that end.
- This means we tend to look for Average Sales Price (ASP) of at least $10,000 with intent to grow
- At least one full-time founder
What LogicBoost Labs Requires
- An equity stake
- A board seat
Cohort Application Process
After submitting your application, we typically respond within two business days to schedule next steps. Successful applicants undergo legal, financial, and technical due diligence, including a background check.
As a founder, we know you are already used to hard work. Should you be accepted into our accelerator program, be prepared to take it to the next level.
- Occasionally, founders ask us to sign a non-disclosure agreement (NDA). Here is a good explanation of why we do not.
- We only invest in US-based C-corporations. If you are not one today (e.g., an LLC), that is fine, but we will require conversion to a C-corporation as part of the process. This is also a suitable time to mention the qualified small business stock (QSBS) tax benefit is always worth exploring.
- We utilize standard documentation for our investments, such as Safe or Series Seed. This is due to their common industry acceptance and to reduce legal complexities (and thereby, costs).
- The application process is a two-way street. We recognize you are evaluating our team just as much as we are considering the opportunity to invest in your startup. We strive to be professional, courteous, communicative, and mindful of your time.
*Acceptance into the accelerator program is at our sole discretion.
**Our operational support must be utilized within the first year of the engagement.
Updated March 7, 2023