Accelerators, are they worth all the hype?
So you’re thinking about joining a startup accelerator, or maybe you already have and you’re considering going through the experience again?
We could sit here and tell you all of the reasons why you should join an accelerator program (hello SaaS startups our applications are open 👀👋 ) but we’ve already broken that down for you and if you haven’t yet, you can read all that here.
Enough about what we think, we want you to get the inside scoop from founders who have been there and done that. We assembled a stellar panel of founders who have gone through various different accelerator programs so that you can hear their unfiltered, unbiased opinions.
Don’t take it from us, check out what they had to say!
- Tolu Olubode, Co-Founder, homeboard – @txluuu
- Julia Slanina, Founder + CEO, Treehouse Medical – @TreehouseMed
- Corey Yantha, CEO, Dispension Industries – @DispensionInc
- Serge Kiema, CEO, Dunia Pay – @dunia_pay
- Vanessa Griffiths, Co-Founder, Gift Better Co. – @ItsJustVanessa
- Chris Moffatt Armes, Founder, PoliTraQ – @CMAinYGK
- Russel Coltess, CEO + Co-Founder, Sweatcrew – @rcoltess
- Lindy Ledohowski, Founder, EssayJack – @DoctorLindy
Let’s break down the questions
(pro tip: you can click on the questions below to be taken to the full thread of responses!)
A1 : #SaaSChats We went through Invest Ottawa Accelerator, Scaleup garage from the university of Ottawa , currently going through Creative destruction Lab blockchain stream in toronto
— Serge 👨🌾 (@thelazyceo2) May 20, 2021
A2: We had a shaky beta product (paid for out of savings), no business, no sales model, & no idea that we needed to develop a business to get our product (the @essayjack platform) in front of people. We needed “business hygiene,” & turned to @LsparkGlobal for that!#SaaSChats pic.twitter.com/skAT6l0svy
— Dr. Lindy Ledohowski 👩🏻💻🇨🇦📚 (@DoctorLindy) May 20, 2021
A3: We definitely spoke to past alumni first to get a sense for what value they got from the program, we also looked at what exactly they were offering and how much it would cost us (time/money) to get it ourselves and finally we dug a bit into the format /continued
— Tolu Olubode (@txluuu) May 20, 2021
A4. One of the most helpful pieces was the social validation. This gave us some semblance of legitimacy for potential investors and customers. #SaaSChats
— Russell Coltess (@rcoltess) May 20, 2021
A5. Prior to joining the accelerator, we were working really hard to get our ducks in a row and figure out how to scale. By the end of the program we had a plan in place and were ready to make moves (including hiring our first two employees!). #SaaSChats pic.twitter.com/beROZFhFBD
— Vanessa (@ItsJustVanessa) May 20, 2021
A6 | Support/access to resources is critical to the success of businesses. Building a trusted team & network allows a founder to understand their failures, challenges & successes. Accelerators give access to knowledge & community which is a key for growth and success. #SaaSChats pic.twitter.com/hwLeSYvfa1
— Treehouse Medical (@TreehouseMed) May 20, 2021
A7: My advice is to go all-in. What you get out of it, relies on what you are prepared to put in. If you devote the time and effort, bring your A-game, and prepare for each meeting like it’s the biggest opportunity you’ve ever had, it will be an amazing experience! #SaaSChats
— Dispension Industries (@DispensionInc) May 20, 2021
8. pt1 #SaaSChats
Don’t squander that boost in motivation that comes from completing a program – put it to use!
As well, consider your goals going into the program – did you get the outcome you were hoping for? If not, what are you missing and how can you address it?
— Chris Moffatt Armes (@CMAinYGK) May 20, 2021
A9: I believe in lifelong learning. Mentors/advisors can be sounding boards & guides afterwards; alumni community become your friends & cheerleaders. Let everyone know what you’re up to. Ask for help (intros, social media amplification, advice, etc) after graduating. #SaaSChats pic.twitter.com/HduikNGNdh
— Dr. Lindy Ledohowski 👩🏻💻🇨🇦📚 (@DoctorLindy) May 20, 2021
