Startup Accelerators · Accelerators

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...
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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