Virtual Startup "Accelerator"
There must be a way to add real value that, at the moment, most of the startup incubators or accelerators can't add to founders.
I am planning to build a media/community project focused on European Startup Ecosystem and European Founders. Goal is to create a founder-to-founder mindset project having one of two goals in mind:
1- working on mindset to help startups to scale
2- try to provide the best tools for early stage founders
Lots of ideas to put in practice but, would love to hear from you. Does it make sense a project like this? What problems you have when growing/working to scale an idea?
I have been part of accelerator program. I think the most useful thingS out there are mentorship and Crowdsourced mind)) when you see others around you doing the same stuff and ready to help - you fill energised and motivated.
Thanks so much for your reply. And, what you don't like?
Accelerator veteran here. Interesting @FranciscoFonseca
Can you elaborate more on how'd you define mindset and why'd people participate in this program? Keen to extend a conversation on Twitter :)
Felix,
Thanks so much for your feedback.
First of all, I really believe that one of the core things that an accelerator needs to work with founders is: education and minset. Create a startup is not easy and, nowadays, looks like it is a "cool" thing. Founders must be prepare for all the challenges, to be resilient, prepare to fail, to put their ego aside (this is the mindset part).
2nd part, a community of like-minded people, being followed throughout the whole journey (not only 3-6 months), how learn how to "stay fit" (problem-solution, product-market, etc...), know how to sale. Get a good network of products and services to low their costs and so on...
Many other ideas to come and feedback is welcome!
Absolutely agree. 100% :)
My experience with the accelerators actually fulfilled the ideas you mentioned. Why do you think it's still under expectation? @FranciscoFonseca
Can you suggest some of those accelerators for me to have a look?
Why do I believe in this? Well, a quick benchmark shows that, the journey is almost the same everywhere. The difference might be with the network of mentors and, of course, investors. Secondly, you teach founders the theory but what about helping with the practical side? What about the personal skills of the founder? Then, with most cases, you "accelerate" the idea and then...program ends. What then? What about the growth? If you are really interested on helping startups, why don't you stay with them?
Sure thing. Maybe I'm biased. I used to work for Techstars and now on the investment side. Some other prominent programs such as Entrepreneur First, Antler, etc put a huge effort into nurturing founders, not just the companies.
Why do you think all journey is almost the same?
I got what you mean. But if you're only looking at mentors and investors network, I think you might need a deeper study on how accelerator operates.
Accelerator exists not for theory but literally delivers practical and personal skills. Accelerator programs are part of an investment pipeline, hence most accelerator programs wish to see an exit.
Accelerator programs do not accelerate ideas but companies with traction. Once a program end, the follow-up action takes forever even until the company exits. And the founders will be part of the life long network.
If you're benchmarking non-equity accelerators, tier-2 accelerators, incubators, government-backed programs. I agree these programs require a lot of work to be a professional program. @FranciscoFonseca
I am not only looking at the mentor or investor side
Can you give me some examples of accelerators/programs that follow your definition of what an accelerator is?
Theory + Practice
Exits
Investment pipeline
Follow-up after the end of a batch
Hey @FranciscoFonseca I named 3 programs in my previous comment.
Apart from the 3, I’d recommend you also look at Brinc, Angel Pad, Surge.
Felix, one more thing. And what you thing should be different in what regards accelerators?
No prob! Just saw this @FranciscoFonseca - it's hard to dig a formula, but this is what I came across in common (apart from mentorships and tech resources):
Thanks so much felix for your inputs and for the feedback