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STARTUP ACCELERATORS
& scouting great startups for them
Mohsin Bin Latheef
11 Feb 2015 | EDI
The problem with business incubation
2
There are over 7,500
business incubators
around the world.
Most of them fail.
office / co-working spaces
+ nice furniture
+ phone / internet connection
=nice cozy startup
community
≠startup
success
Accelerators make incubation better!
3
fixed cohort
structure
mentors + experts
startup teams
quick validation
fail/succeed
time limitation
carrots
funding
goodies
+ +unvalidated
business
opportunity
or idea
better chances of
startup success=
What should an accelerator provide?
4
start-up
teams
face-to-face meetings
/ mentoring
matching +
mentoring
capacity building +
business design
2
3
1
experts
mentorsunvalidated
business
opportunity
or idea facilitate
connections
4
VALIDATED
BUSINESS
MODEL
Is there a need?
Who needs it?
Is the user/customer
looking for a solution?
How will it make money?
Is the b-model scalable?
Key components of accelerators
5
face-to-face
meetings
• by industry experts
and “mentors”
• focused meetings
between start-up
teams & ‘mentors’ to
discuss the specific
challenges that they
face.
• min 45 mins
• connect beforehand
capacity
building +
business design
• Interactive +
classroom sessions by
experts to help the
teams explore and
discuss various
aspects of their
startup venture,
proposed business
model & its validation
• get successful
entrepreneurs to talk!
matching +
mentoring +
evaluation
• match synergies,
people, goals and
expectations between
teams and mentors
• “assign” mentors to
teams based on
feedback & mutual
interest
• monitor actively
• evaluate continuously
facilitate
connections
• connect teams with
potential customers,
channel partners &
other resources (other
than capital)
• provide direct support
through direct
involvement as well
1 32 4
Accelerators vary
6
startup teams time carrots
stage of team
stage of idea/soln
sector/industry
structure
weeks
months
years
workshops/
bootcamps
meetups
residential
mentors
evaluation
outcome
funding
space
talent
connects
in-kind
other
idea
validation
product
validation
investment
b-model
validation
days
Design your accelerator
7
startup teams time carrotsstructure outcome
8
scouting plan
outreach
call for
applications
evaluation
Scouting for teams P X M T
P
X
M
T
Program Team
External Mentors
Media
Technology Platform
1. Scouting Plan
Goal:
Prepare for
scouting
awesome
teams for
your
accelerator
Process:
1. Map the ecosystem
i. Find where your startups are:
a. Make a spreadsheet with atleast 200 groups to reach out to. OCCs!
b. What is the most effective way to get to them?
ii. Where will you find the experts?
a. Dig into the program team’s combined networks or hit Linkedin!
b. Write to them – heads up + block dates
iii. Where can you hold the events?
iv. Who can offer the carrots (if they can be offered)?
2. Plan for scouting
i. Collaterals (Emailer + Flyer + Brochure + Website)
ii. Application form
iii. Build partnerships for outreach – tie-up with everyone! Call them all “partners”
P X M T2 to 3 months
9
2. Call for applications P X M T
Goals:
1. Receive maximum
number of
applications
2. Manage the
application process
efficiently
Process:
Either build the application portal
into your website
OR
Use a technology platform with an
online application form as well as
an evaluation platform built in –
F6S is our pick! Many other
platforms exist.
Seek a Pitch Deck!
30 - 45 days
10
2. Outreach
Scouting
Media
P X M T3 to 4 months
- Get the application form ready - F6S
- Emailing: SPAM everyone!
- Roadshows / open houses/ meetups
- Get word into the community of entrepreneus you’re targeting
- Hackathons + bootcamps
- Ideation sessions + workshops
- Entrepreneurs in Residence (EIRs)
- Social media: Facebook, Linkedin, Twitter, F6S, AngelList
- Website
- Press release
- Get it on YourStory! Beg, bribe or buy them!
11
3. Evaluation P M
Goals:
To select a
well-
balanced
cohort of
teams and
to pick the
best among
the lot
Process:
1. Preliminary screening based on application
form
2. Secondary evaluation through telephonic &
face-to-face conversations
3. Business plans or “booster plans”
i. Set actionable targets
ii. Continuously evaluate progress
4. Assign “Deal Champions” (from program
team) to most promising teams –
5. Mentoring – seek inputs from mentors
6. Demo Day
30 - 45 days TX
12
Evaluation criteria:
i. Team background, roles &
commitment (30%)
ii. Market opportunity +
scalability of business (30%)
iii. Stage of development of
solution + traction so far
(30%)
iv. Gut feel (10%)
v. For Demo Day: progress
has been made so far?
Thank youmohsin@iimahd.ernet.in
www.ciieindia.org
13

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Startup accelerators & scouting great startups for them

  • 1. STARTUP ACCELERATORS & scouting great startups for them Mohsin Bin Latheef 11 Feb 2015 | EDI
  • 2. The problem with business incubation 2 There are over 7,500 business incubators around the world. Most of them fail. office / co-working spaces + nice furniture + phone / internet connection =nice cozy startup community ≠startup success
  • 3. Accelerators make incubation better! 3 fixed cohort structure mentors + experts startup teams quick validation fail/succeed time limitation carrots funding goodies + +unvalidated business opportunity or idea better chances of startup success=
  • 4. What should an accelerator provide? 4 start-up teams face-to-face meetings / mentoring matching + mentoring capacity building + business design 2 3 1 experts mentorsunvalidated business opportunity or idea facilitate connections 4 VALIDATED BUSINESS MODEL Is there a need? Who needs it? Is the user/customer looking for a solution? How will it make money? Is the b-model scalable?
  • 5. Key components of accelerators 5 face-to-face meetings • by industry experts and “mentors” • focused meetings between start-up teams & ‘mentors’ to discuss the specific challenges that they face. • min 45 mins • connect beforehand capacity building + business design • Interactive + classroom sessions by experts to help the teams explore and discuss various aspects of their startup venture, proposed business model & its validation • get successful entrepreneurs to talk! matching + mentoring + evaluation • match synergies, people, goals and expectations between teams and mentors • “assign” mentors to teams based on feedback & mutual interest • monitor actively • evaluate continuously facilitate connections • connect teams with potential customers, channel partners & other resources (other than capital) • provide direct support through direct involvement as well 1 32 4
  • 6. Accelerators vary 6 startup teams time carrots stage of team stage of idea/soln sector/industry structure weeks months years workshops/ bootcamps meetups residential mentors evaluation outcome funding space talent connects in-kind other idea validation product validation investment b-model validation days
  • 7. Design your accelerator 7 startup teams time carrotsstructure outcome
  • 8. 8 scouting plan outreach call for applications evaluation Scouting for teams P X M T P X M T Program Team External Mentors Media Technology Platform
  • 9. 1. Scouting Plan Goal: Prepare for scouting awesome teams for your accelerator Process: 1. Map the ecosystem i. Find where your startups are: a. Make a spreadsheet with atleast 200 groups to reach out to. OCCs! b. What is the most effective way to get to them? ii. Where will you find the experts? a. Dig into the program team’s combined networks or hit Linkedin! b. Write to them – heads up + block dates iii. Where can you hold the events? iv. Who can offer the carrots (if they can be offered)? 2. Plan for scouting i. Collaterals (Emailer + Flyer + Brochure + Website) ii. Application form iii. Build partnerships for outreach – tie-up with everyone! Call them all “partners” P X M T2 to 3 months 9
  • 10. 2. Call for applications P X M T Goals: 1. Receive maximum number of applications 2. Manage the application process efficiently Process: Either build the application portal into your website OR Use a technology platform with an online application form as well as an evaluation platform built in – F6S is our pick! Many other platforms exist. Seek a Pitch Deck! 30 - 45 days 10
  • 11. 2. Outreach Scouting Media P X M T3 to 4 months - Get the application form ready - F6S - Emailing: SPAM everyone! - Roadshows / open houses/ meetups - Get word into the community of entrepreneus you’re targeting - Hackathons + bootcamps - Ideation sessions + workshops - Entrepreneurs in Residence (EIRs) - Social media: Facebook, Linkedin, Twitter, F6S, AngelList - Website - Press release - Get it on YourStory! Beg, bribe or buy them! 11
  • 12. 3. Evaluation P M Goals: To select a well- balanced cohort of teams and to pick the best among the lot Process: 1. Preliminary screening based on application form 2. Secondary evaluation through telephonic & face-to-face conversations 3. Business plans or “booster plans” i. Set actionable targets ii. Continuously evaluate progress 4. Assign “Deal Champions” (from program team) to most promising teams – 5. Mentoring – seek inputs from mentors 6. Demo Day 30 - 45 days TX 12 Evaluation criteria: i. Team background, roles & commitment (30%) ii. Market opportunity + scalability of business (30%) iii. Stage of development of solution + traction so far (30%) iv. Gut feel (10%) v. For Demo Day: progress has been made so far?