How to Get Into Top-Notch Accelerators
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The document outlines key insights from a partner at 500 Startups regarding startup accelerators and their effectiveness. It emphasizes the importance of having a clear idea, strong execution, and a fit with the right accelerator rather than simply applying to any available option. Additionally, it highlights essential components for success, such as storytelling, understanding the market, and having a balanced team.
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How to Get Into Top-Notch Accelerators
- 1. Lessons from Silicon Valley: How to Get Into 500 Startups (or YC, Techstars, Angelpad)
- 2. Who Am I • Partner, 500 Startups • Mentor at 20+ Startup Accelerators in US/Europe/Israel • Board/Advisory Board Member @ 8 companies • 10.5 Year Ex-Yahoo! Executive
- 3. 500 Startups: Global Seed Fund
- 4. “Accelerators are the New MBA.”
- 6. “The Most Important thing is the Clarity of the Idea.”
- 7. Learn to Tell Your Story
- 8. Articulation of Problem You Are Solving
- 12. Competition
- 13. Differentiation
- 14. Hustle & Sense of Urgency
- 15. Customer Sets & Understanding
- 16. “I think having a great idea is vastly overrated. I know it sounds kind of crazy and counterintuitive. I don't think it matters what the idea is, almost. You need great execution.”
- 17. Data & Traction
- 18. Customer Acquisition Strategy & Unit Economics
- 19. Balanced Teams
- 20. Cultural Fit
- 21. Vision: Is this Worth Fighting For?
- 22. “The majority of accelerators are not good for companies and will fail. There are too many of them. The idea of applying to just any accelerator is totally silly. A company should do homework and figure out which one is right for them.”