The first group of Bounds Accelerators. We help founders build solutions at the intersection of retail and emerging technology.
BENTONVILLE, Ark. — A startup accelerator created between the University of Arkansas and a local venture firm has helped increase sales for all 10 companies in its first group.
Bounds Accelerator focuses on supporting founders at the intersection of retail value chains and emerging technologies. Cartwheel Startup Studio's partnership with U of A, Bounds began in January and ended in April with a demo day at the Leisure in downtown Bentonville.
Hashku founder Joel Ponce won another $5,000 prize through the Audience Choice Award. Bentonville-based Hashku connects Gen Z and Alpha with brands through games.
Other milestones include Las Vegas, Nevada-based Ship.com reaching $1 million in annual recurring revenue during the program period.
Spark, another company that supports the use of blockchain in commerce and payments, was acquired in the final stages of the program.
Bounds, one of three business incubators in the University's Office of Entrepreneurship and Innovation, is focused on emerging technologies and building on established supply chains in Northwest Arkansas, said Zoe Buonite, associate director at OEI. It was an opportunity to “elegantly combine” and retail sectors. business incubation.
Participating companies were at the seed to Series A stage and were focused on building next-generation technologies that solve challenges within the retail, transportation, logistics, manufacturing, and supply chain sectors.
Companies had access to experienced mentors, including experts from academia and retail, as well as technologists with backgrounds in artificial intelligence and Web3. Other key partners such as Coinbase, Fabric Ventures and AI Foundation provided the company with access to a wide network of businesses and investments, Buonite said.
Startups from across the country participate in weekly mentoring and learning sessions, with teams from Georgia, Missouri, South Carolina, New York, California, Nevada, and Michigan represented along with three local companies from Northwest Arkansas I served as
“Founders from far and wide report that access to the Bounds mentor network has proven to be most valuable to their progress, as these mentors can help with customer acquisition, marketing, “It helped us develop strategies for marketing, marketing, and fundraising.”
Buonite said he was proud of what Bounds accomplished in its first year, praising the fluid partnership between OEI and Cartwheel and the programs provided by AI Foundation, Coinbase, and Fabric Ventures.
“A worthwhile accelerator program requires significant collaboration, funding, and support from industry leaders, entrepreneurial support organizations, and community members,” Buonite said.
“It also requires effort and commitment from the participating founders themselves, and this is on top of the work they already put into growing their ventures. We could not be more pleased with the commitment shown.”
About the U of A Office of Entrepreneurship and Innovation: The Entrepreneurship and Innovation Department creates and manages innovation and entrepreneurship experiences for students from all disciplines, including social and corporate innovation design teams, venture internships, competitions, and startup coaching. His OEI, a division of the Sam M. Walton College of Business and Economic Development, also provides on-demand support for students who become innovators within existing organizations or entrepreneurs starting something new.
