'Bounds Accelerator' to Support Emerging Tech Startups Across Retail Value Chain

Cartwheel Startup Studio

BENTONVILLE, Ark. – Cartwheel Studio and the U of A Office of Entrepreneurship and Innovation are launching the Bounds Accelerator, an Arkansas-based startup accelerator to leverage emerging technologies like blockchain, artificial intelligence, augmented reality and virtual reality. 

The 16-week accelerator will unite entrepreneurs, industry leaders, tech experts and startups to advance digital transformation in the retail value chain. The program begins on Jan. 8, 2024, and is bookended by an in-person orientation and demo day event in Bentonville, with weekly remote learning and mentoring sessions.

The program is funded through grants from the Arkansas Economic Development Commission and support from Coinbase Ventures, Haun Ventures and The AI Foundation. 

Bounds aims to attract 10 strong cohort participants, with a minimum of three startup participants located in Arkansas. These participants should be at the "Seed-to-Series A" stage and strongly focused on building next-generation technology to solve challenges within the retail, transportation, logistics, manufacturing and supply chain sectors.

Josh Stanley, CEO of Cartwheel Studio, noted Arkansas is in a unique position to aid technology startups thanks to a bevy of major companies located in the state. 

"Arkansas has global reach within the retail value chain, thanks to local industry leaders like Walmart, Tyson Foods, ArcBest, J.B. Hunt and others," Stanley said. "There's no better place on earth to run an emerging tech accelerator targeting supply chain or retail-related concepts than right here." 

The Bounds Accelerator includes partnerships with Coinbase Ventures, Haun Ventures, the AI Foundation and other prominent companies to provide cohort companies with access to a wide network of business and investment connections.   

Additionally, the U of A Office of Entrepreneurship and Innovation will pair each Bounds Accelerator participant with one paid intern and mentorship and advisory support, including growth-to-scale optimization audits.  

Mentors in the Bounds program will include a mix of experienced startup founders, technologists working at the intersection of AI and Web3, product leaders, retail value chain subject matter experts, notable academics, as well as experienced professionals and executives from Arkansas-based enterprises. 

Startups are often the first sector to "see and take advantage" of emerging technologies, and this partnership provides U of A's industry partners with access to "innovative people and products that could quickly advance existing business goals," according to Sarah Goforth, executive director of the university's Office of Entrepreneurship and Innovation. 

"For their part, the startups will gain access and exposure to some of the biggest and most influential customers and investors in the world. And our students will have a front-row seat to this exchange of value." 

About the U of A Office of Entrepreneurship and Innovation: The Office of Entrepreneurship and Innovation creates and curates innovation and entrepreneurship experiences for students across all disciplines. Through the Brewer Family Entrepreneurship Hub, McMillon Innovation Studio, Startup Village, and Greenhouse at the Bentonville Collaborative, the Office of Entrepreneurship and Innovation provides free workshops and programs — including social and corporate innovation design teams, venture internships, competitions and startup coaching. A unit of the Sam M. Walton College of Business and Division of Economic Development, the Office of Entrepreneurship and Innovation  also offers on-demand support for students who will be innovators within existing organizations and entrepreneurs who start something new.