The Pacific Asian Center for Entrepreneurship

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Liftoff Advisors

Liftoff Advisors (LA) is a six-month program designed to support new venture founders in the delicate period after venture founding, but prior to revenue generation. LA will offer expert professional advisory services to select UH new ventures with the aim of enabling investor-readiness. LA is a milestone-based program wherein participants meet monthly with a handpicked set of advisors and PACE staff. Upon successful completion of the program, Liftoff teams are eligible for grant funding.

Goal

The goal of Liftoff Advisors is to build market-ready, investor-ready ventures.

Source of Ventures

Promising UH-related ventures will be invited by the LA Advisory Board to participate in the program. These ventures will be selected from across the UH system and may emerge from programs such as the iLab, the Breakthrough Innovation Challenge, the UH Venture Competition, Summer Startup Launchpad, the MIND program, or other sources of innovation and entrepreneurship across the UH system.

Structure

Liftoff Advisors will run every year between September and February. Teams will meet monthly with PACE staff and dedicated advisors. The program will culminate in a final presentation before the program advisory board, at which time grant funding of up to $20,000 per team will be awarded.

Milestones

During the selection process, each invited team will establish specific, measurable milestones to achieve within the six-month period. At the kickoff advisor meeting, these milestones will be approved by the board or modified. In each subsequent meeting, venture founders will present progress toward these milestones and receive input from the advisors.

Advisors/Advisory Board

PACE will recruit a network of advisors who agree to participate in the team election process, monthly team meetings, as well as the final presentation and grant award meeting. Advisors will be established from among PACE’s existing and growing network of professional executives, entrepreneurs, mentors and coaches for its various programs.