Upstart Businesses and the Upstart Student Venture Accenture
The Upstarts are the self titled nickname given to a team of prank callers collectively felt it would be a great idea to play some cool games amongst themselves, challenging each other for status by killing other teenagers with a quick kill. These teenagers range from 14 years old up to their early twenties. They are a hooligan gang mostly consisting of the older members along with two or three new members who feel to fit in. It is called the Upstarts because they started as a travelling circus act which brought them to the attention of the authorities.
The team then applied for a venture capital firm as a pretender startup company under the pretence of a planned business plan but was later rejected for being illegitimate. Their application was declined on the grounds that the plan was not unique and that there was no need to prove that it was innovative. The business plan then fizzled out, leaving the team with the useless dream of becoming famous. In this article we look at how the upstart university-based accelerator program called the Upstarts Student Venture Accelerator Program managed to give these upstarts a real chance to prove that they had what it takes to become big players in the world of entrepreneurial planning.
As mentioned earlier the name Upstarts came from a joke that the founder, Mike, made regarding his desire to start a cigarette company and then create a brand where he could sell different types of tobacco products like gum, lollipops, and even electrical goods. Due to the flop of his business venture in Colorado, he decided to form a new company, ‘Upstarts’, to sell his products. The name was derived from the fact that they would only sell cigarettes to people who used dogs as their first name. The business name Upstarts was registered in May of 2021. They applied for Series 7 funding in September of that year and received a Series 7 financing in October of the same year. This allowed them to hire Mike Webber as their CEO and move into the testing phase of their Upstart business.
The interesting part about the business plan is that it took a rather unusual business model and applied it to something that we see very frequently in the tech world today. There are two industries that you might want to consider when looking into an upstart. The first would be media and entertainment. The other would be the internet and e-commerce industry. Both of these are home based businesses that are growing at phenomenal rates right now.
The exciting news is that because of the innovation that Upstarts brought to the concept of selling cigarettes through a vaporized cigarette, it became quite popular with both start-ups and investors. Most venture capitalists and angel investors look for companies that are working in a unique market niche or that have a product that solves a problem in a new way. The business model did just that by focusing on a service that many people in the United States have long used but do not have access to through their local cable providers. One thing that makes this type of service unique is that it was one of the only ones to offer a free two-day trial.
Now, you might wonder why I say that the business model was novel. I say that because they leveraged one of the most used products in the country to provide a service that millions of people in the country use every day. While they were able to bring in significant revenue when they started out, they have since slowed down significantly because of the demand for broadband and wireless services. However, the innovative student venture accelerator that they started has kept them in the game, and I believe that they will continue to be successful for the foreseeable future.