The two organizations said in a joint statement yesterday that the accelerator will assist founders of B2B and software-as-a-service (SaaS) technology businesses to scale using AWS business support.
Through AWS Activate, Amazon Web Services provide startups with low-cost, easy-to-use infrastructure needed to grow and scale.
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The AWS Activate program gives startups the resources they need to quickly get started on AWS, these include credits, training, and support.
Sw7 said in the statement that feedback it has received from a number of technology cohorts suggests that traditional accelerator programs are often exclusive, inflexible, interrupt business operations and serve less than one percent of technology markets.
In addition, Sw7 said they require time-off for extended periods to attend boot-camps on dates and times outside of the startup’s availability.
“Businesses pay for the level of support they want without giving up equity and avoid the constraints imposed by traditional program-centric approaches. This cost-based model is appealing — it’s the best of all worlds,” said Jones.
Sw7 co-founder Keith Jones said the objective key result (OKR) structure Sw7 uses, enables it to move away from a program-centric curriculum and batch-based transmit approach.
Instead, it will offer a more business-needs and outcomes-based approach where content, tools, and templates are curated for each business, offering market and sector relevant support in context.
“This makes engagements with our mentor pool more effective as they have clarity about the status and goals of each business. High growth is all about focus and execution once you have a clear direction. Sw7 offers a strategy execution approach to support this,” he added.
The accelerator will have three levels of membership and support, namely: business community, business growth, and business scale.
Business Community is for technology businesses and founders at all life stages, it offers shared insights and learnings, business assessments, additional sector and life stage relevant content and reports at no cost to the business.
Businesses can get up to $3000 in AWS Activate credits for up to one year, including two months of AWS business support.