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What was your experience like in the first accelerator? We're the advisors, mentors, and network any good? Is this one better? In general, there are too many a

What was your experience like in the first accelerator? We're the advisors, mentors, and network any good? Is this one better? In general, there are too many accelerators out there that don't do a great job. You might run the risk of getting bad advice or dead-end connections that could run your company into the ground. Or it might be great -- hard to tell without more information. Sounds like financially speaking, you guys aren't in a bad situation if you're bootstrapping and being lean. Should at least be ramen profitable, which is a big success in itself. So you gotta now ask yourself how much more would an extra £19k do? Can you hire the people you want for how long you want them with that money, or do you need more? Would this accelerator legitimately help you raise more, or can you do that without em? I normally am against raising or applying to incubators without PMF. Too much unpredictability that can't usually be solved with more money -- just with more hustle. Then again, if running experiments, doing customer dev, or day-to-day operations require a large budget, then you might need the money simply to figure it out.

dropsofhonesty 12y ago
The previous accelerator was good. They helped raise some decent money after their initial injection of money. Mentors were great too and the connections we built were useful. It has hard to know if this one will be better. That is interesting that you wouldn't recommend and accelerator if you don't have PMF. Most start-ups that get into accelerators seem like they do not have PMF (judging from their website). However, I do see your point as you won't make the most use of your time.
- neilsharma 12y ago
  Well, quality incubators invest in quality founding teams, not products with PMF. I'm a believer that in most startup cases, the founding team can find some early form of PMF with customer dev + building + hustle rather than money + employees. And if you do find PMF, raising money and getting into the incubator again wouldn't be a problem. In your case though, you might've already found it if your rev is recurring and growing at a decent rate.

dropsofhonesty 12y ago

The previous accelerator was good. They helped raise some decent money after their initial injection of money. Mentors were great too and the connections we built were useful. It has hard to know if this one will be better. That is interesting that you wouldn't recommend and accelerator if you don't have PMF. Most start-ups that get into accelerators seem like they do not have PMF (judging from their website). However, I do see your point as you won't make the most use of your time.

neilsharma 12y ago
Well, quality incubators invest in quality founding teams, not products with PMF. I'm a believer that in most startup cases, the founding team can find some early form of PMF with customer dev + building + hustle rather than money + employees. And if you do find PMF, raising money and getting into the incubator again wouldn't be a problem. In your case though, you might've already found it if your rev is recurring and growing at a decent rate.