{"id":1410,"date":"2012-04-10T09:00:11","date_gmt":"2012-04-10T16:00:11","guid":{"rendered":"http:\/\/foundersnetwork.com\/?p=1410"},"modified":"2018-11-14T23:16:25","modified_gmt":"2018-11-15T07:16:25","slug":"why-an-accelerator","status":"publish","type":"post","link":"https:\/\/foundersnetwork.com\/why-an-accelerator\/","title":{"rendered":"Why an Accelerator?"},"content":{"rendered":"<p>I get asked this question a lot. In the explosion of startup accelerators, it makes sense. Raising money is hard. Really hard. Doesn\u2019t matter what the tech news blogs say, its hard.<\/p>\n<p>Especially if you aren\u2019t in New York or San Francisco.<\/p>\n<p>As a young entrepreneur, applying to YC or Techstars or 500startups or &lt;insert 1000 other accelerators here&gt; looks like free money. If you can get it. Thats really hard too. Well for some of the accelerators. For others, its super easy.<\/p>\n<p>Oh, and mentors, lots and lots of mentors. Some great; some not so good. Some are dicks; some are super cool.<\/p>\n<p>Space to work, a group of other companies to work with, and the ability to join a network of founders that understand the difficulties that you face.<\/p>\n<p>So why wouldn\u2019t you join an accelerator?<\/p>\n<p>The most common comment I hear is age. Yes, there is a belief that accelerators are for the young. And, more so, for the inexperienced.<\/p>\n<p>Often, you hear Techstars and the rest counter with the founders \u201cof age\u201d that have been successful in the program. Good selling strategy, right?<\/p>\n<p>Here are the facts about an accelerator:<\/p>\n<ul>\n<li>Being forced to work around companies that are doing an insane amount of work and having to validate that work with the accelerator staff and mentors is probably the single most amazing reality about membership in the accelerator club. Its impossible to replicate this in any coffee shop, co-working space or basement.<\/li>\n<li>Being held accountable not only by your peers, but by potential investors, is a great litmus test for your ability as a founder to deal with the roller coaster of startupland.<\/li>\n<li>Having access to mentors drives critical and creative thought in a way that is impossible outside of the accelerator dynamic. Even though that creativity and constructive criticism is overwhelming and not always creative or constructive.<\/li>\n<li>It is easier to raise money if you have been through a well-regarded accelerator like Techstars, 500 or YC. Its impossible to raise money later if you don\u2019t raise at, around, or just after demo day. Take too long, and your shine wears off.<\/li>\n<li>Getting into YC, Techstars, 500, etc. is not like getting into a fraternity\/college. Its not fucking party time. Its work time. The Bloomberg \u201creality\u201d show was bullshit. Don\u2019t believe the hype. Its work or die. And as friendly as the other companies are, they will gladly see you die in order to win. (Yes, I am being bombastic. But, in every single class, there are a couple of \u201cfavorites\u201d that do extremely well, and then everyone else. Everyone wants to be the favorite, after all, everyone is a Type A. Don\u2019t lose sight of that reality.)<\/li>\n<li>Some companies are just not made for accelerators. You might not be thinking big enough. Your concept may be outside of the comfort zone of the accelerator\u2019s staff and mentors. There are many reasons why your company just doesn\u2019t fit within the accelerator framework. Its not the accelerators fault.<\/li>\n<li>If you are worried about the equity you have to give up to the accelerator as part of the program, then don\u2019t go. Seriously, don\u2019t go.<\/li>\n<\/ul>\n<p>Bottom line. Should you do an accelerator?<\/p>\n<p>Maybe. It\u2019s really your decision.<\/p>\n<p>But, if you get in, and decide to do it, then do it 120%. Work harder than everyone else. Push yourself and your team. Become great. Don\u2019t be one of the forgotten companies.<\/p>\n<p>And if you decide that you don\u2019t need an accelerator, well then, thats cool too. Prove to the world that you don\u2019t.<\/p>\n<p>This post is <a href=\"http:\/\/learntoduck.com\/techstars\/why-an-accelerator\/\">a version<\/a>\u00a0of a post the first appeared on the <a href=\"http:\/\/learntoduck.com\/\">Learn To Duck<\/a> blog.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I get asked this question a lot. In the explosion of startup accelerators, it makes sense. Raising money is hard. Really hard. Doesn\u2019t matter what the tech news blogs say, &#8230; <\/p>\n<div><a href=\"https:\/\/foundersnetwork.com\/why-an-accelerator\/\" class=\"more-link\">Read More<\/a><\/div>\n","protected":false},"author":31,"featured_media":16284,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_price":"","_stock":"","_tribe_ticket_header":"","_tribe_default_ticket_provider":"","_tribe_ticket_capacity":"0","_ticket_start_date":"","_ticket_end_date":"","_tribe_ticket_show_description":"","_tribe_ticket_show_not_going":false,"_tribe_ticket_use_global_stock":"","_tribe_ticket_global_stock_level":"","_global_stock_mode":"","_global_stock_cap":"","_tribe_rsvp_for_event":"","_tribe_ticket_going_count":"","_tribe_ticket_not_going_count":"","_tribe_tickets_list":"[]","_tribe_ticket_has_attendee_info_fields":false,"footnotes":""},"categories":[144],"tags":[18,7727],"table_tags":[],"class_list":["post-1410","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech-startup-advice","tag-mentorship","tag-tech-startup-advice"],"acf":[],"featured_image_data":{"src":"https:\/\/foundersnetwork.com\/wp-content\/uploads\/2012\/04\/Accelerator-Program.jpg","alt":"Accelerator Program","caption":"Accelerator Program"},"_links":{"self":[{"href":"https:\/\/foundersnetwork.com\/wp-json\/wp\/v2\/posts\/1410","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/foundersnetwork.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/foundersnetwork.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/foundersnetwork.com\/wp-json\/wp\/v2\/users\/31"}],"replies":[{"embeddable":true,"href":"https:\/\/foundersnetwork.com\/wp-json\/wp\/v2\/comments?post=1410"}],"version-history":[{"count":0,"href":"https:\/\/foundersnetwork.com\/wp-json\/wp\/v2\/posts\/1410\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/foundersnetwork.com\/wp-json\/wp\/v2\/media\/16284"}],"wp:attachment":[{"href":"https:\/\/foundersnetwork.com\/wp-json\/wp\/v2\/media?parent=1410"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/foundersnetwork.com\/wp-json\/wp\/v2\/categories?post=1410"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/foundersnetwork.com\/wp-json\/wp\/v2\/tags?post=1410"},{"taxonomy":"table_tags","embeddable":true,"href":"https:\/\/foundersnetwork.com\/wp-json\/wp\/v2\/table_tags?post=1410"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}