AXIS Precelerator is now accepting applications for the 2015 1Q Precelerator Program, offering California startups with an innovative launchpad to seek investor funding.
AXIS Precelerator is California’s only “no equity” precelerator program — allowing startups and entrepreneurs to get business and legal advice without asking them to give up a stake in the equity or ownership of their company. The Program works by helping startups and their founders with a wide variety of legal and business matters to get the new startup investor-ready, and the firm defers its fees until the startup successfully acquires funding from inside or outside investors, angel investors, venture capital firms, or other incubators or accelerators.
“Giving away equity in a startup is tough for any new founder,” said Rabeh M. A. Soofi, the CEO of AXIS Legal Counsel. “California’s entrepreneurs should be able to start with a solid infrastructure without being forced to give up a stake in their company.”
AXIS offers successful applicants “no funding, no fee” terms, meaning that if the startup never gets funding, the startup will not have to pay anything for attorneys’ fees. “There’s really no better way to pursue the success of a startup than by aligning the firm’s interests with the startup’s ultimate success,” said Soofi.
Soofi, who was recently recognized for the third time as one of top 2.5% of lawyers under 40 by SuperLawyers and Los Angeles Magazine, started AXIS’s Precelerator Program to give California’s emerging entrepreneurs a meaningful alternative to getting reliable legal advice without cutting corners. “Way too many emerging entrepreneurs make the mistake of trying to zoom through complicated legal issues, often with either no legal help or using document prep sites that are generally a terrible substitute for real legal advice.” “They end up with all kinds of mistakes that eventually require expensive cleanups. Unfortunately, it’s almost always because new startups are cash-strapped and don’t have the kind of money necessary to do things right. We wanted to give California’s emerging entrepreneurs an innovative way of resolving that dilemma.”
AXIS is looking to help develop pre-seed, seed-stage, and growth-oriented startups in the technology, retail/products, social media, digital media, green industries, services, and entertainment sectors. “We’re not only focused on startups that demonstrate real growth potential, but also founders and entrepreneurs with vision and the energy to take a fantastic concept and implement it successfully,” said Soofi.
AXIS Legal Counsel represents startups, businesses, and companies throughout California and has represented international clients from 17+ countries on a variety of legal matters. AXIS also offers a Startup Academy for emerging entrepreneurs that is intended to help provide tips, guidance, and instruction on the nuts and bolts of starting up, seeking funding, and operating a startup being steered for an IPO or a long-term owner-operated small business.
To learn more or apply, please visit the main AXIS Precelerator page, which provides a link to the application. The application process will open December 1, 2014 and decisions will be made by December 31, 2014. Applications are accepted on a rolling basis throughout the year as well.
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