"Things You Should Know Before Joining a U.S. Accelerator" from Eugene Vyborov

Eugene's speech will be interesting for startups spreading throughout the world and looking to break into the United States, getting accepted to a well-respected U.S.-based accelerator program can feel like winning the lottery.

Transcript

1. Things you should know before joining a U.S. accelerator. Eugene Vyborov Technical Associate at Techstars Boston 2016 CEO of Webinerds CTO of YayPay ev@webinerds.com @evyborov
2. What is a startup accelerator? • Limited time program (usually 3 months) • Providing education, networking and funding in exchange for equity
4. Why join? • Much higher success rate • Access to market • Networking opportunities • Access to capital • Line of business expertise • Access to TOP talents • Credibility
5. How does it work? • Month 1 – Mentor Madness
6. How does it work? • Month 1 – Mentor Madness •Month 2 – KPI race + Workshops + Sponsors
7. How does it work? • Month 1 – Mentor Madness • Month 2 – KPI race + Workshops + Sponsors • Month 3 – Demo Day preparation
8. How does it work? • Month 1 – Mentor Madness •Month 2 – KPI race + Workshops + Sponsors • Month 3 – Demo Day preparations DEMO DAY
10. Benefits for international startups • Access to the US Market – 320M+ people – Equivalent size to Europe – Easier to target – One language (mostly)
11. Benefits for international startups “We think the most important market for our business – because of the nature of our business – is in the US. So we said if we want to do it, then we have to do it in the US – otherwise it doesn’t make sense.” Nikolay Piriankov, CEO of Rare Pink (Boston Techstars 2016)
12. Benefits for international startups • Access to capital: –Amount of VC money in US (5x Europe) –Advantage in accessing money (introductions) –Stamp of approval, credibility in the eyes of investor –Better terms
13. Benefits for international startups “Now we’re talking to Canadian VCs and they’re more interested, because they’re afraid that we’re going to get better deals here. It’s a competitive place.” Mauro Repacci, Co-Founder and CEO of Navut (Boston Techstars 2016)
14. Benefits for international startups • Community and Networking –Access to the best mentors, investors and media –Learning from the smartest founders –Access to the best talent in the area
15. Benefits for international startups “I wouldn’t join an accelerator in a city where I am, because I probably have the ability to get an introduction to anyone there already... I’m a person who likes to develop a network. If I went to a London accelerator I would still get an amazing network. But here I’m creating a new, raw network… and that connects to all kinds of things.” Nikolay Piriankov, CEO of Rare Pink (Boston Techstars 2016)
16. Benefits for international startups • Mindset –Support and motivation from the founders –Super-high pace –Give-first values –Lifetime community support
17. Benefits for international startups • Expertise of US accelerators –Legal support –Recruiting support –Line of business expertise –Mentor/Director support
18. Benefits for international startups CREDIBILITY
19. How to select one? • Does the accelerator have a specialization? • What stage companies do they take? • Is the location advantageous? –VC profile –Market –Introductions • What are the terms?
20. How to get in? • Application is only a small part of it • Relationships matter • Founders are more important than product • Have a clear goal for the program • Keep an eye open for what they are looking for
21. How to make the most of it? • Commit to having a US presence
22. How to make the most of it? • Commit to having a US presence • Involve as much of the team as possible • Align remote team with accelerator process
23. How to make the most of it? • Commit to having a US presence • Involve as much of the team as possible • Align remote team with accelerator process • Be ready to experience to a new entrepreneurial mindset.
24. How to make the most of it? • Commit to having a US presence • Involve as much of the team as possible • Align remote team with accelerator process • Be ready to experience to a new entrepreneurial mindset. • Ask
25. How to make the most of it? • Commit to having a US presence • Involve as much of the team as possible • Align remote team with accelerator process • Be ready to experience to a new entrepreneurial mindset • Ask • Give first!
26. Lessons • Think bigger • Big rocks • Founder stories • Workshops • #givefirst
27. Things you should know before joining a U.S. accelerator. Eugene Vyborov Technical Associate at Techstars Boston 2016 CEO of Webinerds CTO of YayPay ev@webinerds.com @evyborov