Communitech has announced the second cohort of its sales-focused Rev program. Four companies today will kick off their first week in Rev: BluePoint Technology, Knowledgehook, FunnelCake, and TallyFi (more information on each below).
The number is significantly lower than Rev’s first cohort, which saw ten companies accepted and eight graduate in October. According to Marylin Ma, Rev program manager, the drop is intentional, and part of general revisions to Rev’s programming based upon feedback from graduates and mentors.
While Rev remains a six-month program, it will now operate with staggered cohorts of up to five companies every three months. Startups in the Rev program will spend those three months building and refining their sales processes, followed by another three month period where they (hopefully) execute and mentor the companies in the new cohort behind them.
Communitech has also implemented a new incentive-based funding model for Rev, dropping the previous commitment to match current startup capital up to $60,000.
“Staggered cohorts also allow pay-it-forward, peer-to-peer mentorship,” said Ma. “Companies who have just been through the curriculum sprint can provide valuable feedback to those who are about to embark on the intensive learning.”
Another significant change to Rev comes through its funding model. As Rev replaced HYPERDRIVE, Communitech dropped any equity stake requirements from startups, and offered a commitment to match current capital up to $60,000. Ma told BetaKit that Communitech has implemented a new incentive-based model for Rev.
“Companies in the program will gather each Friday to share with their peers what benchmarks they’ve made towards their target goals, as well as share stories about what is working for them and what isn’t,” Ma said. “This is based on a merit system, where companies will be rewarded at the end of the six-month programing.”
Ma also indicated that Rev startups will still have the ability to pitch for up to $100,000 in prize money during its Centre Stage event.
While the changes from cohort one to cohort two are quite significant, Ma told BetaKit to expect only iterative adjustments going forward as Communitech responds to feedback from its partners. “As we coach our startups, ‘always listen to your customers.’ These companies are our customers and we will always be listening to their feedback on how to improve the program,” Ma said.
It remains to be seen if Communitech’s changes to Rev will streamline the sales and growth process for startups, or just offer more hoops to jump through on their way to revenue. For now, here’s the second cohort:
-
BluePoint Technology produces Kindera, a wireless router that allows parents to supervise their home Internet from their smartphone.
Knowledgehook produces cloud-based math software which helps teachers and school boards improve student achievement outcomes.
FunnelCake’s marketing insights solution aggregates data from existing sales and marketing apps, like Google Analytics, Twitter, HubSpot, and Salesforce.
TallyFi has built a high-tech replacement for the mechanical counter used to count people at nightclubs, festivals, and events.
Images courtesy Communitech via Meghan Kreller.