RALEIGH, N.C., Feb. 4, 2013 /PRNewswire/ -- Leveraging over four decades of combined experience including four successful startups, technology executive veterans Will Shook and Mike Shook today announced the launch of their new Raleigh-based venture, Accelerence. Dedicated to helping entrepreneurs accelerate the growth of early-stage technology companies, Accelerence embraces a new "sweat equity" approach to give tech entrepreneurs what they need most: the ability to realize profitable growth quickly to foster self-funding, and direct access to proven strategies and hands-on assistance for superior execution.
"Not every entrepreneur or early stage startup is an ideal fit for traditional venture capital," said Will Shook, co-founder and managing partner of Accelerence. "Accelerence helps fill the venture financing gap and enable business growth by improving companies' risk-return potential and delivering the hands-on entrepreneurial expertise needed – whether that is in formulating effective revenue strategies, targeting the right customers or determining the best strategic financing plan."
Mike Shook, co-founder and managing partner, added, "We have been there and learned the tough lessons, and we are committed to giving back to today's entrepreneurs and helping them execute quickly to achieve business profitability and success."
Accelerence Addresses Shortfall in Venture CapitalThe recently released annual Money Tree Report by PricewaterhouseCoopers LLP and the National Venture Capital Association shows a 10% decline in venture capital invested in 2012 vs. 2011, a shortfall of nearly $3 billion. 40% of this $3 billion shortfall affected companies in the tech space (including biotech/medical devices), which accounted for 72% of overall venture capital raised in 2012. Accelerence addresses this shortfall, helping tech startups that may not immediately appeal to venture capitalists jump-start their revenue streams and create sustainable businesses. Effective diligence at the early stage of growth requires significant expertise, and Accelerence delivers this to make tech startups more likely to achieve a healthy balance between profit growth and venture funding. Proven Methodology: Unleashing Companies from the Top Seven Constraints Entrepreneurs benefit from Accelerence's years of technology business growth success to help their companies avoid common pitfalls and zero-in on accelerated success. Accelerence uses a proven, proprietary methodology, The 7 Steps to Profitable Business Growth, to quickly diagnose companies and prepare targeted recommendations that put entrepreneurs and their companies on the path to success. "As a sales executive at Mike & Will's previous company, Strategic Technologies, I saw them first hand successfully build a rapidly growing technology company," said Greg Randolph, senior vice president of sales, CA Technologies. "The Shook's combined their insights, visions to predict high growth technology markets with the discipline and execution required to convert strategy into revenue. Much of what I learned under their leadership has accelerated my career growth." Accelerence Core Services Customer and Product Insight ServicesKnow the right customers and determine the best strategies and execution plan for speeding up customer acquisition. Operational Success ServicesFine-tune business operations to rev up business profit engine, fuel profitable growth and secure long-term business success. Accelerence core services include assistance with entrepreneurial mentoring, financial strategy and planning, and hands-on business execution – all powered by precision diagnostics to assess what's constraining growth.