By SEMA Editors
The Petersen Automotive Museum will choose one early-stage company to join its three-month, mentorship-driven incubator, investing up to $25,000 and providing hands-on mentorship and access to the Petersen Network. The Petersen Business Incubator Program is anchored on developing female-led startups in the automotive sector. With only 23.6% of motor vehicle jobs held by women in 2019, the program is designed to empower and develop women in the automotive industry.
The advisory committee includes Alex Parker, CMO and principal at Redline Detection; Diane Parker, vice president, Historic Vehicle Association; Dr. Sabrina Kay, CEO of Fremont Private Investments, chancellor of Fremont College; Jasmine Gonzalez, group services director, Petersen Automotive Museum; Sarah Lassek, senior vice president, experiences, Omaze; and Nikki Riedmiller, PR and media relations director, Kahn Media.
Businesses must be located in California, have less than five employees and support or be related to the automotive industry in one of the following categories:
- Distribution
- Publishing
- Interior Design
- Alternative Fuels
- Accessories
- Rideshare
- Rental/Travel
- Product Development
- Marketing/Advertising
- Manufacturing
- Technology
- Apparel/Fashion
- Services
- Design
Applications open twice a year and typically stay open for eight weeks. After applications close, they are reviewed for about four weeks with the goal of notifying the final group of companies accepted within eight weeks from the application closing date.
Applications are reviewed by a selection committee of six industry leaders.
Requirements:
- Petersen Automotive Museum Incubator Application
- California-based company
- Established company – LLC, S-Corp, C-Corp
Business Plan must include the following:
- Executive Summary
- Company Description
- Product/Service
- Target Market
- Industry Analysis
- Financial Plan
Once accepted, the team meets with the Petersen’s mentorship team once a week. During the first two weeks, you will develop a three-month custom timeline to address your goals. This involves analyzing your company's strengths and weaknesses and spending time in the different museum departments to develop your business and prepare it for its next financial milestone.
Recipient will receive:
- A $25,000 investment
- Three-month mentorship program
- Perks from Petersen Partners