We liked the TechStars’ model best and became a charter member of the Techstars’ affiliate network. Today there is an overwhemling 120+ programs around the US. It seems like every mid-size town has set up a program (large cities now have 2 or 3).
All programs look the same
- They last about 3 months
- They provide some capital and education
- They have a big pitch event at the end
How can an entrepreneur distinguish the programs that will accelerate your business from the ones that will waste your time? It is actually quite easy – one just has to know where to look.
Mentors are the secret sauce!
The value creation in the accelerator model is accomplished by the Mentor group. The talent and diversity of this group combined with their level of engagement to the program will determine its value to entrepreneurs.
Before you apply to become a mentor - Take 15 minutes and examine the quality of the mentors that will be helping you through the program.
- Are these people that can advance your startup?
- Can you learn from them?
- Have they launched their own companies?
- Do they have the diverse and extensive experience that you will need?
If the mentor group looks like a bunch of service providers and salespeople with no hands-on talent – this is a bad sign. If there is no information regarding the mentor group – run away.
Please check out the Jumpstart Foundry Mentors… I’ll put our mentors up against any other accelerator. They’re incredible – and they provide the primary source of Jumpstart Foundry’s value.
Photo credit: unknown
Application deadline is April 2. Apply to Jumpstart Foundry today.
Posted on March 8, 2012