Syed Balkhi, founder of WPBeginner, has announced a growth accelerator fund aimed at helping companies focused on WordPress prosper.
The fund will provide between $100K-500K to a small group of selected companies. In addition to the funding, selected companies will be able to take advantage of Awesome Motive’s media presence, network of business associates, and receive guidance.
“The problem is that the WordPress market is not very well understood by investors,” Balkhi said. “And frankly, the majority of WordPress businesses are not large enough to meet their criteria.
“But this doesn’t mean that WordPress businesses don’t have the potential. It’s quite the opposite – they have a lot of potential. There are tons of opportunities to grow in the WordPress ecosystem with the right playbook, and I want to help prove that.”
Founders will be given a lot of advice although they won’t be required to act upon it. Backers of the growth fund will also maintain a hands-off approach, interfering as little as possible with day-to-day operations.
Five companies will be hand-selected to receive funding. To be eligible for investments, WordPress-focused companies must be at least six months old. To apply, founders need to fill out the following form.
The WPBeginner growth accelerator fund could be the jump start that gives a handful of companies the opportunity to take things to the next level.