About
Mission
Empower and accelerate the success of innovative third party risk management startups through a comprehensive incubator program. We strive to foster a collaborative ecosystem that provides mentorship, resources, and networking opportunities, enabling startups to navigate challenges, develop cutting-edge solutions, and establish a robust presence in the evolving landscape of risk management.
Vision
To be a catalyst for transformative innovation in third party risk management, fostering a dynamic ecosystem where startups thrive in pioneering solutions that redefine industry standards. We aspire to build a global community of resilient and adaptive risk management leaders who contribute to a secure and trustworthy business environment. Through our incubator program, we envision a future where emerging startups play a pivotal role in shaping the evolution of risk management practices, driving sustainability, and ensuring resilience in an ever-changing landscape.
Transforming the Industry Together
Incubator Participants
Who Can Participate
Innovative Third Party Risk Management Startups
Only start-up organizations within the Third Party Risk Management space
Start-up must be five years old or less and/or within the pre-seed, seed, or early stage (Series A and Series B)
Start-ups must not bring in more than $500,000 of revenue annually from product/service offerings
Must complete an application and potentially an interview
Must provide evidence of the revenue the organization generates from products/services within their last and/or current financial year
TPRA retains the right to deny any organization and/or individual entry into the Incubator Program for any reason
Goals & Activities
The goals and activities of the Incubator Program are to assist with removing roadblocks within the community to allow for better communication, tighten feedback loops to ensure community needs are addressed, and to be a catalyst for innovation within the community. The program will also allow for a common lexicon when speaking about TPRM programs and the value they bring to organizations. Below are the goals and activities related to the TPRA’s Innovator Program:
1
TPRA Vendor Membership
Receive “Incubator Status” Vendor Membership based on the Program Tier structure below. Would receive all of the benefits of an “Advocate” Member.
Benefits include:
Orientation & On-boarding
Three website accounts
Quarterly updates
Invitations to practitioner meetings
Website Access
Service Provider Profile
LinkedIn Welcome Message
Share your resources, events, surveys, & job openings with TPRA members
Newsletter Spotlight & Links to Blogs
Write blogs for TPRA
3
Access to Resources
Share TPRA resources, webinars, and training opportunities. TPRA will create a website to share external resources for Incubator Program members only (to include company names and URLs for investment firms, other incubator programs, and other start-up accelerators).
5
Mentorship
TPRA will create a network of mentors for the Incubator participants that may include other CEOs and service providers.
7
Brand Awareness
TPRA to note the incubator participant’s organization on the TPRA website (within Service Provider Profile), highlight the organization on LinkedIn, and note the organization as a spotlight within one of the TPRA’s quarterly newsletters.
9
Collaboration on Additional Resources
In collaboration with TPRA, may participate in educational trainings, research, & content creation (such as blog posts, whitepapers, & videos).
2
Insight Exchange
Set up regular 1:1 meetings (most likely quarterly) with select practitioners (based on industry and company size) to provide program participants with feedback on their products/services.
This can also assist with the incubator program participant figuring out their product market fit, target market, and product/service pitch. Can also assist with the participant better understanding if they are addressing their market’s TPRM pain points.
TPRA to create a site for Practitioners to note TPRM pain points and/or note request for innovation. (Note: Can have the community vote on what they would like to see the most.) Incubator Participants would be able to access this list.
4
Network Opportunities
TPRA will create network opportunities to introduce incubator program participants other program participants, practitioners, and other service providers.
6
Training & Skill Development
Incubator participants may attend TPRA webinars, events, and activities on the website to enhance TPRM skill development.
8
Lead Generation Opportunities
TPRA to provide incubator participants with discounts on conference sponsorships and demo opportunities. Sponsorships come with opt-in lists. TPRA to create a site for Practitioners to submit RFPs for TPRM tools and for incubator participants (as well as TPRA Vendor Members) to respond to them.
10
Feedback & Improvement of Incubator Program
From time to time, participants will receive surveys that request feedback on the Incubator Program. Responses will be used to continually enhance the program.