Anyone heard anything about Founders Space (accelerator)?

Leena MBA Content & Publication Manager at NetApp

October 30th, 2014

Have any decent startups come out of Founders Space? Should accelerators be charging if they are taking equity? Thanks for any insight...

Steve Hoffman Captain of Founders Space

Last updated on August 8th, 2017

Here's a link to what the graduates of Founders Space have posted:

https://www.foundersspace.com/category/feedback/

Miles Lambie Co-founder at Driven

October 31st, 2014

Hi Leena, I don't know anything about Founders Space but I do work for an accelerator, Collider, which takes equity and charges for the programme. Let me explain our rationale - maybe it is similar to Founders' Space.

We feel that there are two exchanges:

i) We give cash ($240k) and in exchange we charge 20.7% equity

ii) We deliver an awesome programme, packed with practical workshops, one-on-one coaching time and in-depth collaborative sessions with some of the world's leading brands. In exchange we charge for the programme.

Accelerators are not charities. That's not to say they are profit-hungry machines. We put an awful lot of man hours into developing and delivering the programme and we need to pay our team to do that!

I hope this helps explain why some accelerators both take equity and charge.

Good luck with your application.

Miles

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