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9 Mile Labs

Pre-seed Capital for Enterprise B2B Startups

Description

Unlike traditional accelerators, 9Mile Labs typically invests in startups that have already been accepted into other top-tier accelerators.If a startup meets this criteria, they can Contact 9Mile Labs directly via an online form to share company details. 

Eligibility

Accelerator Status: Must be currently admitted to or enrolled in a startup accelerator.
Target Sector: Must be an Enterprise or B2B technology startup.
Team Composition: Look for a complete team typically consisting of a "hacker, hustler, and visionary".
Traction: Must demonstrate growing revenue or deep customer validation (e.g., Letters of Intent).
Geography: They work with startups across the U.S., regardless of location. 

Process

Initial Contact: Managing directors from other accelerators often introduce B2B startups, or founders can reach out directly.
Information Gathering: The firm collects basic details about the company, team, and current accelerator participation.
Interview: Selected teams participate in a roughly one-hour meeting (in-person or online).
Quick Decision: 9Mile Labs commits to a "Yes" or "No" decision within one week of the meeting.
Funding: Once approved, paperwork is finalized and funds are wired immediately. 

What an Applicant can Obtain

Capital: Typically $50,000 to $100,000 in funding.
Flexible Terms: They prefer using 500 Startups' KISS notes but can join existing investment vehicles already set by other investors.
Mentor Network: Access to a world-class mentor network built from Seattle's high-tech ecosystem to support growth.
Framework Access: Strategic guidance through the 9Mile Innovation Framework, a methodology for building and scaling B2B companies.