Startup Accelerators: The BRUTAL TRUTH (In One Chart)
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- Опубліковано 28 вер 2024
- To get an advisor like Ed to help you with pre-seed or seed funding, join the Startups.com accelerator: startups.com
How I make my videos: I recorded this using Zoom and then edited it in a rapid video editor called TimeBolt. Get 20% off TimeBolt using my code EDKANG99 here: timebolt.io
This accelerator model makes sense to me. There is a wide bottom of bootstrappers looking to educate themselves and make connections, but they aren't ready or are too nervous to go-for-broke on their idea. This model lets the bootstrappers dip their toes in and self-select into the next tier. This is very interesting, and I will enjoy watching your journey unfold.
Thanks for your feedback as always Dustin.
My now successful company was at the free university accelerator when it was a startup (cause the business idea was initially a student project). I doubt there would ever be a company without that accelerator, so I have only positive things to say about accelerators. I didn’t know about those bad stories, so wow now I see it can get bad. Thank you Ed for sharing your wide knowledge, very useful.
Great story. I wish you continued success.
fresh cut, good video
Appreciate it
What are the services that an accelerator provides?
I'm part of a free (govt funded) accelerator. I initially thought we'd get funding then I realized nope it's mostly guidance/classes/talks. Luckily I also get free legal, accounting, and announcements on what major VC/grant opportunities are available.
I think all of what mine offers can be substituted with grit and initiative. However, there's something nice about being surrounded by peers rather than being locked up in my basement building.
The best "service" an accelerator can provide is a network. That network can provide everything from support, information, and connections. And I agree, most founders are lonely and confused, so, accelerator are a great community when they are set up properly.
That thumbnail!
Sounds good iam going to check it out
Are accelerators worth it if you can raise a seed round without them? I'm a first time founder and I'm in this position. Most accelerators are recruiting us but we didn't hear back from YC and Sequoia. I think YC doesn't know much about our domain.
Look at founder alumni and investors from those accelerators and see if they are in a similar position or industry to you. If you think they can add value to your network or business, you'll have more credibility to start a conversation if you went to the same program.
If I raised a seed round and YC accepted me, I would still join if my current investors were OK with it. But if it was any other accelerator, I would not join.
@@edkang99 Thanks Ed. I’ve been worried about being a first time founder without going through an accelerator, but it doesn’t seem like they make sense for us. If we close our round it’s because of your youtube, so thank you.