How to Apply to Entrepreneurs Roundtable Accelerator: From Application to Acceptance

The Entrepreneurs Roundtable Accelerator (ERA) program accepts just 1% of startups that apply. These select few join an extraordinary group that has raised more than $2 billion in capital.

ERA's impressive track record spans back to 2011 with investments in over 330 startups. Each company receives $100,000 in seed funding plus direct access to 500+ expert mentors. Your startup could follow the success path of companies like Bombas or Managed by Q through this top-ranked NYC accelerator program.

We understand the competitive nature of ERA's selection process. This piece shows you the essential steps to boost your acceptance odds - from creating a standout application to acing your interview rounds. Our goal is to help you become one of the 10-15 startups chosen for each cohort. Your journey toward ERA acceptance starts now!

Understanding ERA's Application Requirements

ERA looks for technology-driven startups that show the most important growth potential. The accelerator has clear requirements to help arrange selected companies with their program goals.

Key Eligibility Criteria for ERA Accelerator NYC

Companies need a strong tech focus to qualify for the program. The founders must show their steadfast dedication by working full-time on their startup. ERA expects the core team to focus completely on building the company. The program works best with teams of two to four founders, but team size remains flexible.

Required Documentation and Materials

Startups must be U.S. C Corporations or ready to switch their business structure. They should also prepare:

• A compelling executive summary that shows the company's vision
• Documentation of early customer traction or revenue, if available
• Evidence that shows the founding team's technical skills

Important Deadlines and Timelines

Applications for the Winter 2025 program end on November 4, 2024. The program kicks off on January 13, 2025. Startups can apply from anywhere in the world, but they need to be present in New York City during the four-month program.

Competition is fierce. ERA picks only 10 to 15 startups (about 1%) from 1,000 to 2,000 applications in each cohort. Selected startups get USD 150,000 in seed funding and can tap into ERA's network of over 500 mentors.

Preparing Your ERA Application

A successful ERA application starts with careful preparation. Note that ERA assesses startups by their growth potential and adaptable business models.

Crafting a Compelling Executive Summary

The executive summary should light up your business model's core aspects. Focus on explaining the problem, solution, market chances, and your edge over competitors. Show deep knowledge of your field and be honest about your startup's current position.

Creating an Effective Pitch Deck

Your ERA pitch deck needs these vital elements:

• Problem and solution slides with real-life application
• Market size and growth potential
• Business model and revenue streams
• Team qualifications and achievements
• Clear funding request and use of funds

Investors typically spend 3 minutes and 44 seconds reviewing each deck, so keep yours between 10 to 20 slides [16, 19].

Financial Projections and Metrics

ERA looks for adaptable businesses, so your financial projections should cover 3 to 5 years. Your key metrics should include:

• Customer Lifetime Value (LTV)
• Customer Acquisition Cost (CAC)
• Total Addressable Market (TAM)
• Serviceable Addressable Market (SAM)
• Serviceable Obtainable Market (SOM)

Show your past financial records with monthly projections of revenues, gross profits, and net profits. ERA's evaluation process heavily weighs these metrics.

Navigating the Selection Process

ERA's selection process helps find promising startups through a well-laid-out approach. Each group gets about 1,000 to 2,000 applications. All but one of these startups get filtered out, as only 10 to 15 companies make the cut.

Original Application Screening

The ERA screening team looks at three core elements to assess applications. They pay close attention to the founding team's experience and track record. The startup's market chance and growth potential also play a crucial role. So, startups need to show:

• Technical expertise within the founding team
• A flexible product or service
• Market fit with ERA's investment strategy
• The core team's full-time dedication

Interview Rounds and What to Expect

After the first screening, startups move through several interview rounds. The process has phone interviews and in-person pitch presentations. ERA looks at the team's:

• Subject matter expertise
• Knowing how to execute their vision
• Openness to feedback and mentorship
• Chemistry among co-founders

Final Selection and Due Diligence

Startups that reach the final stage go through detailed due diligence. This step checks everything about the business, including:

Financial verification: ERA reviews the company's financial statements and projections. The team checks current revenue streams, funding history, and possible financial risks.

Legal assessment: This step verifies the corporate structure and ensures the company runs as or can become a U.S. C Corporation. The team also checks existing legal obligations and possible conflicts.

Technical validation: ERA confirms the startup's technical capabilities and product development status. Most selected companies have built their team and created their original product.

Post-Acceptance Steps

Startups accepted into ERA receive a $150,000 investment through ERA's equity agreement.

Understanding the Equity Agreement

The investment works through a post-money SAFE (Simple Agreement for Future Equity) and takes 6% of the company. This agreement turns into preferred shares during the next equity round. ERA needs all participating companies to operate as U.S. C Corporations, though LLCs or foreign entities can convert their structure to meet this requirement.

Program Onboarding Process

The four-month program focuses on three main elements:

• We match you with both a lead mentor and an alumni mentor in the first week
• You get fundraising support, including help with valuation, investor messaging, and deck creation
• Regular networking events happen throughout, from launch gatherings to mid-program investor pitch nights

The program concludes with Demo Day where startups pitch to hundreds of qualified investors. ERA stays an active partner with companies after the program and supports their continued growth and future funding rounds.

Relocating to New York City

The program runs on a hybrid model that combines in-person elements with remote-friendly programming. Startups need to keep a physical presence in New York City while the program runs. This helps founders realize the full potential of ERA's resources, networking opportunities, and the city's startup ecosystem. ERA helps international founders with visa and immigration processes to ensure they can work legally in the United States.

Conclusion

Getting into ERA's accelerator program just needs good preparation and attention to detail. The 1% acceptance rate might look intimidating. But startups that fit ERA's vision and meet their requirements have a real chance to join this prestigious program.

Three key elements are the foundations of a successful ERA application: a strong founding team, clear market potential, and complete documentation. Your startup should show its achievements and prove it's ready to scale in New York City's vibrant ecosystem.

ERA provides more than $150,000 in seed funding. Selected startups get expert mentorship, networking opportunities, and continuous support beyond the four-month program. These resources have helped ERA alumni raise over $2 billion in capital. This proves how well the program works at launching successful tech companies.

ERA acceptance needs dedication, but the rewards make it worthwhile. Begin your application early. Show your startup's unique value clearly and make sure your team is ready to begin a transformative experience.