100watt Launches to Help Transform New Ideas into Marketplace Winners
WINSTON-SALEM, N.C. – MAY 9, 2018 – Growth company and ad agency, The Variable, today announces the launch of a first-of-its-kind business accelerator called 100watt. 100watt provides commercialization services – including idea creation, market validation, business plan creation, brand development, seed stage execution and fundraising – to founders who have an idea and capital but not the time or flexibility to create it, bring it to market or make it successful on their own. 100watt combines business, operations and branding expertise to help individuals clear the early stage hurdles that often trip up founders, while building the infrastructure necessary to make their ideas succeed.
With 80 percent of startups failing almost immediately, 100watt insulates founders against the risks and challenges commonly associated with startups by providing the right team with the right expertise and the right model, ultimately providing the fast-track solution for ideas to come to life and succeed. The finished product provided by 100watt is a wholly realized business, built on a solid base, validated in market and positioned with the best chance for success. The 100watt team features a wide range of business backgrounds, including investment banking, private equity, management consulting, operations, marketing and technology.
“We created 100watt after identifying a gap in the entrepreneurial space,” said Dan Driscoll, director of business innovation at 100watt. “Most of the venture community is focused on twenty-something entrepreneurs who have quit their jobs and believe they have the next tech unicorn. No one is talking to the people who are already incredibly successful in their careers and have an idea that developed out of their expertise, along with the capital to pursue it, but are unwilling to take on the time and career risks typically associated with startups. 100watt insulates people from these risks.”
“Our creation and launch of Sunshine Beverages really confirmed our belief that a different kind of startup support infrastructure was needed,” said Joe Parrish, president at 100watt, and partner and chief creative officer at The Variable. “We guided ourselves through the various stages of building a company, from product formulation and testing to packaging and distribution. We founded 100watt as a commercialization platform that could partner with founders like our Sunshine team and provide the expertise needed to guide them through all of the steps necessary to successfully launch a business.”
100watt formalized in fall 2017 with its first four projects under contract, all with founders who have already experienced success and recognition in their fields. Two of the projects are set to launch in market this summer. One of these is Kabook!, a first-of-its-kind, technology-driven platform for children’s books that creates an epic new way to experience stories.
“As a growth company, The Variable prides itself on being entrepreneurial in action rather than just entrepreneurial in spirit,” said David Mullen, partner and president at The Variable. “100watt is a perfect example of how we have continued to build on that commitment to true innovation in a way that doesn’t just make us sound different in a pitch, but that actually provides utility and creates disproportionate value for 100watt founders and our employees.”
To learn more about 100watt, visit 100watt.co.