Incubator, join or not?

Hi Varga,

To echo some of the thoughts here, I think it depends on what you're looking to get out of the incubator, where you are in your product development/business model, and how much energy you're willing to devote to it. Incubators can be great if you have the time, money, and patience to put everything into it-- great especially for networking and getting connected to new markets.

If you're looking to generate sales and develop your tech, however, your time might be better spent working with a smaller in-house developer consultancy, that can work with you as a partner to walk through all stages of the start-up process (shameless plug: check out my company, 20spokes. We pride ourselves on working with company founders, and have a track record launching start-ups as a result of our projects.)

Whether or not you're interested in my company, happy to help you flesh this out if you're still debating your plan of action. For context, I used to work as a consultant in the start-up space, and have worked with a lot of people to help navigate this part of the journey.

Good luck!

Key question is what are you looking to get out of the incubator? Why do you want to join that program?

Need to make sure the incubator matches your needs and also works with startups in your stage. This way you will make sure you are not wasting your time.

I went through an incubator and I must say that I would have probably used my time more efficiently if I was simply working to get customers.

Let me know if you have further questions.

Nick

There are lots of variables. The location makes a big difference. There are incubators run by folks that really don't offer much. Then there are incubators (e.g. SoCal), that are amazing. In 6 months they help you launch your company or your out. You have to do your homework. See what companies they successfully assisted. Talk with them. They'll let you know.

I've been with the Cleantech Open for about 7 years and am the National Alumni Chair now. If you decide to use an accelerator or incubator, expect it to be a full time job to get the most out of it. Find a finance person (at least) to work with you. If you're the technical expert, find a business expert to work with you.

Most startups do not get funded because 1) they cannot articulate the business well enough, or 2) they are unfundable because of #1 and/or they have no team, product/market fit, understanding costs, CAC, and benefits. Unless you are headed into an incubator that forces you to get the bs out, do not waste the time, money, or equity. Incubators are a business, not a social club or a self help group. Know why you are going there and do not romanticize their purpoas .

Got a friend who learned all about coding that she knows through an incubator program. Would be no harm giving it a shot

Absolutely YES.

Even if you won't get funds, you will get advice from extremely experienced guys, who launched couple businesses.

We worked with 8 of 14 TechStars Boston 2016 startups and all of them changed their strategy in different ways, so it's not just a way to get money - it's networking, improving your idea and way of way of meeting with investors(in TechStars their bring investors to you).

Wish you luck in your business.