How to get into a startup accelerator
Should you try to get your company into an accelerator? How far along should your idea and your team be before applying? When it is time to apply, how do you make your application stand out from hundreds or thousands of others? How fancy do you need to get with the application video?
For answers, we spoke with Neal Sáles-Griffin, managing director of Techstars Chicago, and the founder of one of the earliest coding bootcamps with Code Academy (later known as The Starter League). He is an adjunct professor at Northwestern University and was a mayoral candidate in Chicago’s 2019 election. He’s got an incredible wealth of knowledge about all things startups — our chat was only about 40 minutes long, but he absolutely crammed it with insights.
Here are some highlights from our conversation at TC Early Stage — Extra Crunch members will find the full video and a transcript below.
Why (or why not to) join an accelerator
Throughout the talk, Neal shares plenty of reasons why you might want to join an accelerator. The connections! The shared knowledge! The support network! The funding is nice too, of course — but he’s quick to point out that it shouldn’t be your sole motivation.
It can’t just be about the money. If it’s just about fundraising and you don’t really want any of the other parts of the experience, you’re probably setting yourself up to not have a very good time. I would highly recommend reconsidering that and instead (Read more...)