“If you want to go fast, go alone. If you want to go far, go together”
At the beginning of Draivn’s journey, we wanted to go fast and made too many mistakes. Then we found advisors who guide us through all the traps and pitfalls by the very moment. We have a dedicated post about that
, by the way.
Accelerators are just the same, they help you achieve success through multiple initiatives:
. Professionals in Sales, Marketing, and Product development will teach you to market yourself, create a good pitch, set up an MVP, approach potential customers, and do other things you can not go without as a start-up.
✅ Industry connections.
Corporate partners are an integral part of any accelerator. They are outstanding industry players and niche leaders that seek new ideas, bold projects, and founders to cooperate with. The main goal of start-ups is to attract them.
. All the startups are seeking investments at one stage or another. And accelerators lend a helping hand here by attracting VCs, angels, or investing themselves. For example, Ycombinator
invests 150k in all the program participants, while others mainly focus on the demo day to present your startup to investors.
. Accelerators are like colleges for startups, where you find friends, learn new things, have fun, and get in trouble.
As you see, an acceleration program can be a rocket jump for a start-up and is a must-have for anyone launching a venture from scratch. And Draivn was not an exception here.
As you may guess, we used Draivn’s patented (waiting for approval) pipeline approach. We were looking for programs meeting the following criteria:
✅ friendly terms for participants,
✅ relevant corporate partners,
✅ credibility and reputation (be aware of the all-comers programs – these are tricky).
And though our criteria were quite demanding, we came out with a list of programs to apply for.
Some companies accepted our applications, and we moved to the pitch stage. Others never came back, though we know how to be persistent. Silence is a common thing with VCs these days, don’t you think so?
Numerous pitches and selection days resulted in a number of rejections (Hi, Ycombinator
). But there were programs that accepted us, but we couldn’t join, like F10
. And there was Insurtech Munich Hub
that appeared to be a perfect fit for us, though it is not an accelerator in the classic sense.Insurtech Munich Hub and why it’s a perfect accelerator.