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Kaplan EdTech Accelerator Seeks Submissions for Mentor Program

• By Kanoe Namahoe
• 01/30/14

Entrepreneurs looking to launch an edtech startup may apply to participate in Kaplan EdTech Accelerator, a program designed to foster startups focused on education technology. The deadline to submit an application is May 5.

The program is sponsored by education services provider Kaplan and startup accelerator Techstars. The two companies will select 10 edtech startups to participate in a three-month mentor program with business leaders in New York City. Areas of focus include K-12, higher education, professional and corporate development and lifelong learning. The mentor program begins July 25 and runs through October 22.

"We are looking for companies that can bring disruptive change to how individuals learn and are educated, from cradle to grave," said Don Burton, managing director for the education technology sector at Techstars, in a prepared statement. "There is probably no sector of our economy more ripe for change than education, but also no sector that is more challenging to navigate. The purpose of the Techstars model is to help entrepreneurs with great ideas find the right path to succeed."

The selected startups will receive:

• A $20,000 equity investment from Techstars;
• An optional $150,000 convertible note from Kaplan;
• Office space in New York;
• Mentorship by leading entrepreneurs, investors, industry experts and Kaplan and Techstars executives;
• Feedback from Kaplan students, instructors and partners; and,
• Access to Kaplan’s Learning Science group, for instructional design support.

All startups will present to a panel of angel and venture investors and education experts at a Demo Day held at the end of the program. Their aim will be to secure additional funding to expand their companies.

The first Kaplan EdTech Accelerator program was held in 2013. The ten companies include Degreed, Flinja, Mathify, MentorMob, Modern Guild, Newsela, panOpen, Ranku, Uvize, and Verificient Technologies. All companies have "or will soon close a post-program funding round." As a group, they've raised more than $10 million in funding to date.

The first deadline for early applications is April 4. The final deadline is May 5. Information sessions will be held in New York City, Washington DC, San Francisco and London, starting now and running through the application deadline. Companies chosen for participation will be notified by June 18. The program begins July 25 and ends with the Demo Day scheduled for October 22. More information and the application can be found online.