About
Press Release
About
Spark Charleston is seeking ambitious individuals or teams that want to create interesting & high-potential companies in the Charleston region. If you have a great idea or a startup company, we want you to fill out a brief application to work in our exciting, collaborative office space.
How do I apply & what are the key dates?
Apply here! We have just started out 2011 application cycle and will be taking applications throughout March.
How much does it cost?
Resident companies all pay a $50/mo user fee per person. When Spark was originally conceived, it was completely free. We introduced this fee because, well, free is a strange price. No one knows what to expect from one another. We look to the tenant companies for input on how to spend the money collected from the fees.
What is Spark Charleston and why are you doing this?
We believe that putting ambitious, smart, motivated people together in one space and giving them access to basic business tools can provide the spark that many companies need, and will create an exciting, innovative community in Charleston.
We are a small group of businessmen, entrepreneurs, and professionals dedicated to growing the knowledge economy in Charleston. We've outfitted a space right in the heart of downtown Charleston to let up to 14 ambitious individuals and small companies succeed. Here's how it works: You get a spot at Spark and you work to build your company. Every three months, we ask for you to show the progress you've made. As long as you continue working hard and building your company, you can stay as long as you like. You get an open, collaborative work environment and basic office amenities, for a user fee of $50/mo. You and the other resident companies get to decide what to do with money from the user fees - bring in guest speakers, change around the decor - it's up to you.
We don't blame you for being skeptical - it sounds too good to be true. But really, that's it.
What's the catch?
I said no catch! Ok, ok, there's sort of a catch. We want to give you the best possible chance for success, so there are a few requirements for resident companies. 1. You need to be able to demonstrate measurable, specific progress every quarter. 2. You believe in the community-driven nature of Spark and are therefore a good coworker and ambassador for the project.
What types of companies do you look for?
There isn't one particular industry we focus on, though the nature of the space precludes any company that needs lots of specialized (read:medical) equipment, wet lab space, or lots of storage. We do anticipate that the companies coming through Spark Charleston will share a few common traits: 1. High growth potential. Individual talents are great, but we want to help companies that can create high paying jobs and invigorate Charleston. 2. A clear path to revenue. There is a lot to be said for a good idea, but the realities of the world will catch up eventually. No matter how interesting or revolutionary your idea may be, we are only interested if you can create a sustainable company from it relatively quickly. 3. Strong work ethic. Rent may be free, but that's no excuse to slack off. This isn't a high-touch program - we will leave you largely to your own devices - so we need hard-working people who will feed off each others' energy.
Do I need a business plan? What stage of a company are you looking for?
We want quality people & ideas. You don't need a fully-baked business plan. It can't hurt, but above all we are looking for motivated, talented people with an idea they believe in. We will look at everything from a good idea to a functioning company that just needs a little extra oomph to take it to the next level.
If I'm accepted, what do I get?
You get a desk or workspace (depending on the requirements of the different accepted companies) in a cheery, collaborative office environment in downtown Charleston. Located at 480 East Bay St, the space has high speed wireless internet, 24x7 access, a shared conference room, a kitchenette, and other tools you need to succeed, like whiteboard space, a community library, and printers. You'll also get access to our rolodex, which includes community leaders, mentors within your industry, potential investors, and other professionals in the region who are interested in helping startup companies.
What do you mean "you can stay forever"?
There are two paths for companies at Spark Charleston. The first is that your company continues to grow and prosper. In that case, we anticipate that you will eventually outgrow the space. Spark is not designed to house 4+ person companies, and if you're growing, you'll soon want your own digs. If your growth or efforts stall, for whatever reason, we may ask you to move out to make room for other promising companies. We're reasonable people, and aren't just going to kick someone out at a moments notice, but fundamentally there are two outcomes. The project originally had a six month cap on all residencies, but we've realized that as long as your company is making progress and benefiting from the space, it doesn't make sense to end your stay. You have a better sense of when you will outgrow the space, and we want to make sure you can plan accordingly.
