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From the bottom of the FAQ page: >The Accelerator model gives you the opportunity to pitch investors, venture capitalists, influential industry leaders, and R/
by jsprogrammer 11y ago
From the bottom of the FAQ page:
>The Accelerator model gives you the opportunity to pitch investors, venture capitalists, influential industry leaders, and R/GA executives and clients at the end of the program during Demo Day. As a benefit of participating in the program, each company will receive $20,000 as well as work space, connections, and deep mentorship in exchange for 6% equity. In addition, companies accepted to the program have the option to accept a $100,000 convertible debt note. This provides even more resources for you to get your ideas off the ground.
- ripberge 11y agoSeems like a pretty hefty chunk to give up for $20K and the chance to be a guinea pig in an unproven startup incubator run by...a baseball team. I have no idea about the quality of RG/A's work, but we did share an office with them and it was always an entertaining recent college grad, hipster fashion show. I do think the idea of sports focus is cool though.
- jsprogrammer 11y agoTheir marketing is also a bit misleading. The landing page claims to award/grant $120K to each team. However, until you get near the last question of the separate 'FAQ' page, there is no mention of equity exchanges or convertible debt financing, nor that $100K of the prize is optional and if chosen, require the team to take ongoing financial obligations to the sponsor(s).
- drewpmoffitt 11y agoAren't the original YC terms 7% for $20,000 plus $100,000 uncapped note?