What exactly is GrandSlam Alley?
GrandSlam Alley (GSA) is a web, gaming and mobile app business accelerator, (however we do sometimes invest in ideas outside of this niche). Basically we invest in awesome business teams with awesome business/product ideas in return for a small part of the company. Then we provide mentoring and office space for you to grow your business quickly.
Is GSA like Y-Combinator or TechStars?
Kind of, but with a one key difference. We are a longer term model. These accelerators work in 3-month increments. We nurture your business until you are ready to leave the nest…so to speak. While we may change our model down the road based on our successes, this is the system we are working with to develop the startup ecosystem in Tech Valley.
Where are you located?
We are located in the heart of Tech Valley in Upstate NY. More specifically, 500 Federal St. 4th Floor, Troy, NY 12180.
Troy is an up-and-coming gaming and app development community. It’s a funky little town with a lot of great people, great architecture, and a community that is truly passionate about helping each other out.
How do I apply?
Go to www.grandslamalley.com/apply and fill out our application.
Do I have to fill out the application?
Yes! It doesn’t take long, and at the very least it is a great way to start asking yourself the crucial
questions about your business that you’ll need to know if you’re going to move forward with it.
I’m a student. Can I apply to GSA?
Yes! We love to see student-run startups and are actively working with local area schools to break down any
barriers students may encounter when starting a business.
Can I set up a meeting with you to go over my business before I apply to see if it’s worth it?
While we love helping out as many people as we can, we unfortunately can no longer accommodate this. We started doing this at the beginning and quickly realized that we were unable to keep up with every great idea that came through the Alley. We suggest applying anyway and we will give you feedback as to our decision to accept or
How long is the process?
Typically we will review your application and get back to you with a response within a week. It may take slightly more or less time depending on how much due diligence we have to do. The more detailed your application, the faster we can make a decision. After that, we usually have a decision within a few days from meeting with you.
How much money will you give me?
Our deals are primarily situational, however you can expect an average deal to be around $15,000. A lot of factors go into it, such as immediate costs for launch, type of business, type of product, revenue model, team, phase of business, etc.
How much equity will you take?
This is also very situational, but you can expect a minimum of 5%. We’re not looking to take control of your company, we just want to be invested in your success, while still being able to show a ROI to investors so we can invest in more companies like yours!
How long can I stay at the accelerator?
Well, it depends. If you’re successful, we’ll work with you until it’s not longer beneficial for us to keep you here and at that point, we’ll probably work with you to get more funding or find space elsewhere to grow your business. If you’re not successful, we will try to work with you as much as possible until your idea, revenue model or team has either been proven unprofitable or has missed too many milestones for us to continue the relationship.
Do I get free food or beer?
Do I have to move into GSA’s office space?
The short answer is yes. Part of the success of our model revolves around having a community of entrepreneurs co-inhabiting a working space, which fosters collaboration and cross-pollination of ideas. It also allows you to get the most out of our mentoring network because we may have unscheduled visits with influential entrepreneurs who can really give you some great advice. However, in some cases we are willing to work with companies outside of the Alley depending on the situation.
I don’t need money, just mentoring and connections. Can you still help me?
Yes. The investment is a small part of the overall model. What we really try to do is grow your company into a profitable and sustainable business through mentoring and resource sharing.
I don’t want mentoring, just money. Can you help me?
Yes and no. This type of investment does not really fit our model. While an accelerator is an investment vehicle, we really want to be involved in your success and want you to be a part of our growing startup community. Therefore we typically do not invest in this fashion. However we have many connections with local investors that may be willing to do so, and if we like your idea/team enough, we may be able to connect you with the right people.
How many venture capital connections do you have?
Lots. We have agreements with many VCs to partner with them when our companies are ready for venture funding after their initial seed funding.
Can I work in just my underwear?
No. Please wear clothes in the Alley.