Applicant Financial & Organizational Criteria

• Solution Maturity: Applicant has a functional MVP.
• Revenue: Maximum of $1M in total revenue in calendar year 2023.
• Fundraising Criteria: Maximum of $2M raised from all investors in calendar year 2023.
• Pre-money Valuation Cap: Maximum of $15M based on current fundraising terms.
• Organization Type: Applicant must be a United States based, for-profit corporation.
• Geography: Applicant must be incorporated and have its principal place of business within the United States.

Ineligible Companies - Organizations that meet any of these criteria or have key employees or board members that meet any of these criteria.

• Employs anyone under the age of 18 years old.
• Employs any current employee of Western Governors University or any of its affiliate entities.
• Any current portfolio company of the WGU Labs Fund, WGU Labs, or Juvo Ventures.
• Anyone for whom it would be illegal to enter this Competition in their legal jurisdiction of residence, including any company not incorporated or having its principal place of business in the United States.
• Determination of Eligibility - Each Applicant is solely responsible for determining their eligibility to enter and participate in the Competition, based upon these eligibility criteria, Rules, and the laws governing the Applicant. WGU Labs does not assume any responsibility for verifying or confirming participants’ eligibility. However, if at any point WGU Labs determines, in good faith, that the Applicant was ineligible to submit an entry or participate in the Competition, WGU Labs may disqualify the Applicant at any time, before or after Finalists or Winners have been selected and hotel, air travel, and registration for the 2024 ASU+GSV conference has been paid or Winner's award has been distributed.

The competition rules (“Rules”) that govern the WGU Labs Accelerator Competition (the “Competition”) are listed below. By submitting a competition application, Applicants acknowledge and agree to abide by the rules outlined herein. The Rules may be amended at any time and updated on this web page. The public and Applicants will not be notified individually about any amendments to the Rules.

General questions about the Rules and Competition should be sent to accelerator@wgulabs.org.

• Conference Attendance - All finalists will be required to attend the 2024 ASU+GSV Conference in person and participate in Competition activities. Finalists will be required to book their air travel within seven (7) days of notification or WGU reserves the right to revoke its offer for the company to participate as a finalist.
• Legal Obligations - The winner will be required to execute the following legal documents: a standard SAFE (Y-Combinator) based on your company’s current terms with the WGU Labs Fund; a Master Services Agreement with WGU Labs; and a vendor contract with Western Governors University. Winners should consult their legal advisors to determine the legal obligations of these required documents. If the legal documents cannot be executed within sixty (60) days of being declared the winner, then WGU reserves the right to withdraw the investment offer.
• Number of Winners - Winners and Finalists will be chosen at WGU Labs’ sole discretion. WGU Labs reserves the right to select more than one winner. The decision of WGU Labs in selecting Finalists and a Winner(s) is final and cannot be appealed or challenged.
• Ownership - Applicants retain ownership of any responses in their Application and any intellectual property  included in the  Application that may be patented, copyrighted or trademarked in the future.
• No Guarantee of Confidentiality - Given the nature of the Competition, we cannot guarantee the confidentiality of your Application. If you believe your Application contains or discloses any patentable invention, then you should consult your own legal advisor before submitting your application.
• Waiver of Financial Damages - By submitting an Application, you agree not to seek any financial damages against WGU Labs, Western Governors University or any of its affiliates,  for any claim, dispute, or cause of action related to the Competition in any way.
• Publicity - By submitting an Application, an Applicant that is a finalist or winner allows WGU Labs to use their name, photos, logos, image, and likeness to publicize the Competition.
• Governing Law - Any disputes pertaining to this Competition will be governed by the laws of the State of Utah, without regard to its principles of conflicts of law, and without regard to the residency or citizenship of any Applicant. The courts located in Salt Lake County, Utah (state and federal) shall have sole jurisdiction.
• Disqualification - An Applicant or Application may be disqualified by the Review Committee or WGU Labs at any time and for any reason, including misrepresenting information on the application or violating any terms outlined herein. In the event of disqualification, the Applicant will be notified as soon as reasonable.
• Cancellation - WGU Labs reserves the right to modify or cancel the Competition and any of its terms for any reason and at any time. Applicants will be notified of any material modifications to this Competition or cancellation.  

• Selecting Finalists - Applications will be evaluated by a small group of leaders and staff from the WGU Labs Fund, the WGU Labs Accelerator, and WGU (“Review Committee”) based on a standard evaluation rubric. Potential Finalists will be notified during the week of February 26th and will need to be available for a 30-60 minute video call that week before being formally invited to attend the Competition as a finalist and potentially provide additional documentation for the due diligence process. At that time, Finalists will be assigned a hotel reservation and a conference registration and will need to book air travel within seven (7) days.
• Selecting the Winner - Finalists will attend a pitch competition at the conference where they will have an opportunity to make a 10 minute pitch with a pitch deck to a small group of judges that are senior leaders at WGU with an audience of investors, thought leaders, WGU staff, and other invited attendees. Judges will have an opportunity to ask questions and then convene in private to select the Winner. The Winner will be announced within 24 hours.

Can I submit more than one application?

No, you may only submit one application per company.

‍

Is there an entry fee to enter the Competition?

No, there is not an entry fee to submit an Application to the Competition?

‍

Can an Application be edited after submission?

No, it is not possible to edit an Application that has been submitted but you can email accelerator@wgulabs.org if you need to correct and/or provide additional information. No changes or updates will be accepted after the deadline.

‍

Are there any requirements if my company is selected as Finalist?

Yes, finalists are required to be available for an interview during the week of February 26, 2024, attend the ASU+GSV conference from April 14-17, 2024, and participate in the WGU Labs Pitch Competition at the conference.

‍

What kind of services will be provided by the WGU Labs Accelerator to the winner?

The WGU Labs Accelerator provides clients with a range of services that include go-to-market strategy, sales enablement, research, partnership development, and awareness building. The mix of services for the winner will be determined in collaboration with the WGU Labs Accelerator based on the winner’s specific needs, priorities, and situation.