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Is there a value to join pre-seed organizations, accelerator programs, etc?
Time to time I've got invited to different organizations and, summarizing the information, I can define the next group of benefits they supply
- help to create a successful pitch deck, investigate and assess your idea, etc
- help to find an angel investor
- some of the supply some amount of money for winners
At the same time, these programs are paid and they usually request from 1 to 10% of your company. Do you have experience in cooperation with such organizations? Are they worth money and time?
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Rick Turoczy
Speaking as someone who has founded and continues to run several accelerator programs, I tend to think that they have value beyond a pitch deck and funding. But admittedly, I'm biased.
I think the greatest value most of our founders get out of the program are 1) Extensive mentorship from experts in our network, which in turn, become part of the founder's network, and 2) Peer mentorship and camaraderie with fellow founders who are going through the same ups, downs, loneliness, and doubt. Being a founder is hard. And that emotional support is critical.
Most important, bear in mind that every program is different. Not every program will work for every founder. It's a lot like seeking out investors. You have to find the right fit. And ultimately, you get out of an accelerator program what you put into it.
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@turoczy Thanks for your incredibly clear vision! The main issue here is to understand how to find the right one. Is there any suggestion?
@anna_panchenko You're welcome! Happy to help. Unfortunately, there's no definitive resource of accelerators (again, much like investors), and there are new ones cropping up every day. So, it takes a little research to dig around and find them.
Some good starting spots:
* https://angel.co/incubators
* https://www.f6s.com/accelerators
* https://www.gan.co/
* https://www.seed-db.com/accelera... (I don't know that this is still updated, but it will give you a good idea of what accelerators have been around for a while.)
* https://about.crunchbase.com/blo...
@turoczy There's a huge choice. Now I won't surprise how and why they find my startup, the reason isn't the great idea of the project, it seems that the reason is the fact that there're a lot of competitors in the market now.
I'm part of the MassChallenge FinTech team, which is part of a global network of non-profit startup accelerators (so might be a bit biased + naturally making a plug for pro-accelerators). I do think startup accelerators aren't for everyone and there'a a lot of different types of accelerators, so understanding the main and often subtle differentiators are key. MassChallenge FinTech matches enterprise-ready startups with industry leaders to solve some of the biggest challenges in financial services - all at zero-equity and no relocation needed. That's where our value add is, instead of the group of benefits you mentioned~
