like the head In the Techstars startup pipeline, I’m getting on calls with founders, attending events, speaking at stages like TechCrunch Disruption, and hosting countless Twitter posts. Each time I told the founders why they should join the accelerator.
Now, I’m switching things up and I’m going to list six reasons why you shouldn’t join an accelerator.
If you only need financial support
Better than going to VCs, angel investors, crowdfunding, applying for grants or seeking venture debt. Accelerators usually take more (equity) because they give more than money. They provide you with funding and fundraising opportunities, mentors and networks, workshops and often a place to work. If you don’t need any of these, you don’t need an accelerator.
Accelerators are great because at the end of the program they are a compelling method to achieve the results you really want, but no one can drag you out of bed every morning.
Remember that financial aid will solve your financial problems, but it won’t solve everything. You still need to figure out how to find customers, find great talent, build an incredible product, assemble a great advisory board, and be product-market fit.
Do you just need financial support? lucky you. You can’t go wrong with Republic or WeFunder for crowdfunding. For venture debt options, check out SVB or Mercury, and OpenGrants for help.
To develop customers
Customer development, also known as customer discovery or proof of concept, is the idea of proving your startup idea. You don’t need an accelerator telling you to talk to your customers. You should do it anyway. Otherwise, why would you build what you want to build?
Yes, many accelerators accept companies at an idea level, but usually on the premise that primary or secondary research has been done to show you’re building something you’ll use and/or pay for.
