FINDING THE BUSINESS VALUE IN NEW IDEAS
Propeller is a 6-week entrepreneurial design thinking program which helps founders and entrepreneurs determine whether there is sufficient value to pursue a product or service idea. The program helps entrepreneurs identify potential markets, develop a path to market strategy, and learn how to communicate the value of the idea to early stakeholders and adopters.
Over six weeks of instruction, Propeller enables innovators to utilize the tools provided and peer interaction to consider angles from the business problem, customer value, and competitive edge--resulting in a clear understanding about the business direction and value of their idea and how to present this value in an investor-ready pitch.
Propeller serves as a first-step program for early-stage science and technology innovators by helping them bridge the gap between a brilliant idea and the business value it represents. It is based in part on the Wendy Kennedy Institute (WKI) methodology but tailored to science and technology-focused companies. First Flight seeks to contribute to our vibrant entrepreneurial community by adding Propeller as a building block for an ever-stronger innovation ecosystem.
Timeframe of program delivery: The virtual, self-paced modules, integrated with mentor interactions, may take place over a several weeks (pace depends on the time committed by Founder). If Cohort based with a facilitator, the program is typically completed over 6 weeks with a celebration demo day afterward.
Program Cost: $1,000
Funded by NC IDEA:
Propeller is made possible by the NC IDEA Foundation. First Flight received an Innovation Ecosystem Partner Award to support the creation and engagement of Propeller as a tool for entrepreneurs.
Propeller aligns with the NC IDEA goal to foster economic development in North Carolina by supporting entrepreneurs and a diverse group of organizations throughout the state that also share in NC IDEA’s ambition.
Scholarships Available!
We are grateful to our sponsors for providing us with the resources necessary to provide full scholarships to our Propeller Program. Thank you NC IDEA, US Small Business Administration, and NC MEP!
• Partial scholarships for AgTech Companies sponsored by NC IDEA ($500)
• Scholarships for Raleigh-based companies from the City of Raleigh
• Scholarships for 6 Female founders for the SBA’s Federal and State Technology (FAST) Partnership Program
• Scholarships for Defense Textiles and Wearables from the Defense Manufacturing Community Support Program (DMCSP) from the Department of Defense
Are you interested in one of our available scholarships for women and product manufacturing entrepreneurs and startups? Apply using the button below to be considered.
How do I Participate in the Propeller program if I’m not a woman-led or product manufacturing startup?
It’s ok! Propeller is open to all entrepreneurs. Propeller provides entrepreneurs with access to practical hands-on visual tools and frameworks to help them discover and test the business idea of new ideas. Apply below to be considered.
Program Curriculum
The Propeller curriculum is available to be delivered virtually as a self-paced process, in virtual cohorts and in-person (when possible) as a cohort.
Some topics covered in the program include:
Business evaluation
Customer identification
Technology/research evaluations – deep dive
Translating technology into customer value
Making sense of the market space
Business and financial modeling
Developing paths to market
Founder readiness and building a team
Investor readiness
Mentoring/Coaching/Subject matter expertise coordination
Pitch presentations and competition
Non-dilutive funding education
Graduation and demo day development and implementation.
Demo Day: Celebration event where Founders present their company to others in their cohort, investors, stakeholders and community to gain more business traction
Timeframe of program delivery: The virtual, self-paced modules, integrated with mentor interactions, may take place over a several weeks (pace depends on time committed by Founder). If Cohort based with facilitator, program is typically completed over 6 weeks with celebration demo day afterward.
Virtual: $1,000 if virtually presented, for up to 2 representatives per company (must retain same representatives throughout the course to maintain continuity)
Cohort in person: $1,000 per person, if In-person, facilitator-led format
Ways to Engage
Propeller isn’t just a program for First Flight members— It’s a program with opportunities for participant companies, entrepreneur support organizations, and volunteer mentors alike!
join the First Flight provider network and support economic growth in NORTH CAROLINA
First Flight is a non-profit. We rely on the generosity of our sponsors to continue our work creating jobs for North Carolina. We offer our sponsors many ways to engage with our early stage science-based companies and hope you will consider joining our mission. There are many startup audiences, including LiftOff and Propeller participants, that First Flight interacts with through our sponsorship program called "Flight Plan".