Alpharetta Accelerator Offers Office Space, Access to Capital

Entrepreneurs looking to give their companies a jumpstart have a new opportunity with the opening of the Alpharetta Accelerator this week.

Managing partners Jim McNabb and Tarby Bryant formed the incubator, which had its grand opening at 221 Roswell St. in Alpharetta on Aug. 9, with plans to help 10-15 prospective clients.

Though it just opened on Aug. 9, the Alpharetta Accelerator already has six prospective clients, including one that Bryant had known about for the past two weeks.

“From the press release that came out on Tuesday, I’ve got about five more prospective clients that are interested in coming in,” he said.

The accelerator will serve North Atlanta and all industries.

Those prospects are working on their applications now.

Alpharetta Accelerator clients will have first class office space, furniture and access to the Atlanta Gathering of Angels, an angel investors group, Bryant said. It also

offers something many other accelerators don’t.

“It offers capital. Most accelerators offer office space and some coaching, but we offer coaching and access to capital,” he said.

That will be through the Gathering of Angels group and the seed capital fund the accelerator plans to start late this year. The seed capital fund will provide access to capital $250,000 to $2 million.

The $10 million side-by-side seed capital fund will provide capital for the young clients that are inside the accelerator, Bryant said.

“To make an application for entry, I need to see a full business plan, an executive summary, a 12- to 20-slide Powerpoint presentation and they have to fill out one of the application forms that is available online on the Web site,” Bryant said.

And what does he expect of the businesses that are accepted by the Alpharetta Accelerator?

“I expect them to be successful,” Bryant said.

Bryant assigns five members of the 73-member board of advisors to work with each young company. These advisors are charged with helping the companies grow, with coaching, counseling advising, opening up their own Rolodexes to the young firms and providing an introduction to capital.

The current economic conditions make this the best time to start up a company, Bryant said.

Al Nash, executive director of Progress Partners North Fulton, said he was excited about the opening of Alpharetta Accelerators. He attended the grand opening and will meet with Bryant on Aug. 11 to discuss how Progress Partners and the North Fulton Chamber can help.

Nash said this is “just another piece of evidence that illustrates what a strong market we have in technology and so forth. We do have a lot of entrepreneurs. I think this is going to be another tool in our toolbox to help companies expand.”

By Bob Pepalis