Accelerate & Generate
For startups, financing can be challenging, and often the biggest barrier. Each month we’re focusing on a different financing option in Minnesota for startups and featuring experts in the field.
Time is the most valuable asset for a company. We meet a lot of founders and it doesn’t matter what vertical they are in or how well the company is doing. There is never enough time in the day or enough days in the week.
As a lean mean growing machine you and your small team wear many hats. You must go raise funds, make sales, plan for the future, hire (and fire) employees, take out the trash and countless other responsibilities. They all take time and effort. At the end of the day, some things fall behind. Often time building relationships with strategic individuals are one of them.
This is where an accelerator comes in to play. One of the biggest value propositions an accelerator can offer is access. What do we mean when we say access? We mean introductions to potential mentors, investors, corporates and other founders in a short amount of time. At gener8tor we make 100+ potential mentor introductions and set up 75+ investor pitches over the span of 12 weeks. If you stop and think about how much time and effort it would take a company to set up and execute 175+ meetings you realize the potential value.
Joining an accelerator means that companies can take chasing strategic introductions off of their to-do list for 12 weeks and beyond. This allows for companies and founders to focus on growth. Our job is to find the best companies and play matchmaker with our network.
This is not the only reason to join an accelerator and for many companies, there are a lot of variables that go into the decision. An accelerator is not for everyone, we are the first to admit it. One question for founders is if they look at this from an objective lens, do they feel the exchange of equity for cash and connections can shorten the timeline to IPO or Exit in a significant manner? If the answer is yes, the financial justification is quite clear. Time is money and we want to save you time!
Surround your company with people, investors, and organizations that help you get there faster. If you’d like to chat and learn more, feel free to connect with me via email [email protected].
Get out there and start something!
Adam is the director of gBETA Medtech, a program of nationally ranked gener8tor. He has previous experience in regulatory affairs, quality assurance, and early-stage product development.