Is there a value to join pre-seed organizations, accelerator programs, etc?

Question

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?

Rick Turoczy · Accepted Answer

@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/accelerators (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/blog/100-startup-accelerators-around-the-world/

Rick Turoczy · Answer

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.

Shena Lohardjo · Answer

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~

Hanna Barzakouskaya · Answer

@turoczy Thanks for your incredibly clear vision! The main issue here is to understand how to find the right one. Is there any suggestion?

Answer

Well  of course it can be a little risky in the beginning because you don't know how things are going to evolve in a new organization.Whether you should join a startup is “a fun question,” but “it’s also really hard to answer,” says Schlesinger. He suggests you “think about the transition in steps,” which “preserves your optionality to disengage” at any point during the process. Focus on the specific opportunity, and do the necessary research, due diligence, and soul-searching to figure out whether that particular job is right for you.

Hanna Barzakouskaya · Answer

@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.

Hanna Barzakouskaya · Answer

@shenalo Nice to know, thanks for this vision. I didn't have experience with such accelerators.

Hanna Barzakouskaya · Answer

@juxhin_ipervox Thanks for the answer. As for me I love and hate general answers. Because from one side, I have got an answer but from the other side it doesn't help much. But thanks for sharing it. At least I got to know that it's a hard question.

Tochukwu Ogbonna · Answer

i need help

Is there a value to join pre-seed organizations, accelerator programs, etc?

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