What I want as an investor participating in an accelerator program
No one invests because of a demo day.
I certainly don’t. I need to work for it.
This is how an accelerator program can help me to invest.
Before the program starts
Send me a list of each company with enough information for me to commit to work. No more than half a page per company. I will be trying to understand the following for each company:
- Is this part of my current investment thesis? Is this one of those companies I am looking for?
- Is this an idea I have never thought of and need to learn about?
- Is this a company I can help to ‘step-change’? What do they need?
Tell me how I can interact with the company. It needs to be more than the occasional ‘mentor drinks’ — I need to get into it.
During the program
This is where the real assessment happens.
- What do customers think of their solution?
- Can they build it?
- I want to feel the velocity. Has the team found a cadence? Is it making leaps already?
- Will the company be ready to take some capital to fuel more leaps?
- Do we enjoy working with each other?
- Is there an early opportunity to invest?
End of the program
Then we get to demo day — or however the end of the program is marked. Here’s what I want then:
We are done by then. The work has happened.
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