As the pinnacle of startup pipeline at Techstars, I’ve been getting on calls with founders, attending occasions, talking on phases like TechCrunch’s Disrupt and internet hosting numerous Twitter Areas. Every time, I’ve been telling founders why they need to be part of an accelerator.
Now, I’m altering issues up and going to put out six causes you shouldn’t be part of an accelerator.
If you happen to solely want funding
You’re higher off going to VCs, angel buyers, crowdfunding, making use of for grants or looking for enterprise debt. Accelerators normally take extra (fairness), as a result of they supply extra than simply cash. They offer you funding and fundraising alternatives, mentorship and networks, workshops and normally a spot to work. If you happen to don’t want any of that, then you definitely don’t want an accelerator.
Accelerators are nice as a result of they’re a forcing mechanism to succeed in your most desired final result by the tip of this system, however nobody goes to tug you off the bed each morning.
Needless to say funding will clear up your cash issues, nevertheless it gained’t clear up all the things else. You’ll nonetheless want to determine the best way to purchase clients, discover the perfect expertise, construct an unimaginable product, assemble an important advisory board and get to product-market match.
Do you simply want funding? Fortunate you. For crowdfunding, you’ll be able to’t go fallacious with Republic or WeFunder. For enterprise debt choices, try SVB or Mercury, and OpenGrants for, effectively, grants.
To do buyer improvement
Buyer improvement, also referred to as buyer discovery or thought validation, is the notion of validating your startup thought. You don’t want an accelerator to inform you to speak to your clients. You need to be doing it anyway. In any other case, why are you constructing the factor you wish to construct?
Sure, many accelerators settle for corporations on the thought stage, nevertheless it’s normally on the premise that main or secondary analysis has been performed to point out you’re constructing one thing folks have stated they’d use and/or pay for.
