In August 2013, five award-winning digital services providers in Chicago decided to join forces under one brand, Ensemble, to launch a one-stop ‘digital services suite’ for entrepreneurs desiring ‘do-it-for-me’ solutions. The concept was to bring entrepreneurs everything they need to succeed under one roof, including startup consulting, venture capital, technology development, search engine optimization, social media marketing, and public relations.
At the same time, the concept provides a 20% cash discount for startups who bundle their purchasing of the member companies’ services. An an even bigger 40% cash discount is offered for startups in which the member companies are collectively willing to take an equity position. Furthermore, it was designed to materially increase a startup’s ROI and odds for success from the typical 10% to 20-30% by leveraging the collective best practices and go-to-market playbooks of the member companies and their collective base of clients. We like to think about this next-generation model as a startup ‘excubator,’ which provides an inclusive solution for all startups that desire such help, while dramatically improving venture capital returns in the process.
To help identify whether this model will work for entrepreneurs compared to the more typical startup incubator, accelerator or shared location programs, let’s compare the plusses and minuses of these alternatives based on the key criteria below:
You can read the rest of this post on Startup Beat, where the article was originally featured.
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