Techstars Accelerator: A Founder’s Perspective
Last winter my Raddle co-founder Liyani, our founding engineer Dan, and I met with Techstars Anywhere Managing Director Ryan Kuder and Kendra Dixon, then Director of Operations, to find out whether we were one of the 10 companies accepted into the Techstars Anywhere startup accelerator taking place in spring 2021.
It had been a long, intense admissions process. I grabbed a screenshot to preserve the moment. Ryan’s face gave little away (I think he may have bluffed a bit) until finally he said something like, “We would love you to be part of our Techstars Anywhere 2021 class.”
I’m rarely speechless, but in that moment of stunned elation we were all silent until Ryan said something reminiscent of a marriage proposer awkwardly probing his hope-to-be bride for a “Yes!”
I think I might’ve thrown in a corny, ‘let me think about it’ before one of us eventually eked out our official “Yes!”
I bolted for my husband and told him, “We’re in.”
He said, “You’re in?!”
I said, “We’re in.” And then we teared up. The moment my guard had prevented me from hoping for had actually happened.
If it sounds dramatic well…it was. Less than 1% of startups that applied got in, we were first-time founders who’d sacrificed a lot to get to that point, and getting into Techstars Anywhere felt validating. So yeah — we were freakin PUMPED!
We suspected that it would be a game changer for our company. The question is: was it?
To help answer that — here are some highlights and observations from my Techstars Anywhere experience:
- The intense pace, especially towards the beginning — is no joke.
Like — warn your spouse, children, dogs, etc. that you won’t be around much for 3 months. We were instructed to communicate with our families about this, advice which I appreciated and followed.
2. We got mentored by some extraordinary people who know their shit and challenged us.
If you want to get better at something, surround yourself with people who are better at it than you and willing to teach and challenge you. I learned that I had to put my ego aside and allow each learning moment to strengthen not diminish my confidence.
During “Mentor Madness” (picture a week of speed dating between founders and mentors) we got mentored by about 70 mentors and chose a few lead mentors to continue working with who had expertise that complimented our teams’: Andy Ballester (co-founder of GoFundMe), Emily Best (co-founder of Seed&Spark), Tania Mulry, and Melani Gordon.
2. We got to know & grow with a diverse group of founders.
We’re different in many ways but similar in our: work ethic, ability and drive to succeed, yearning to learn, and unwavering commitment to our missions. We still meet regularly to support one another. I’m super proud of us for keeping it going, because it’d be so easy to just let it fizzle out. Having this support network gives us all a huge leg up. I hope to grow old(er) with these people. Speaking of which…
3. I got my old ass handed to me.
I was the oldest (by far) person in my cohort. I have worked in business longer than some of my fellow founders have been alive, and came into Techstars thinking I knew a lot. It turned out I had a lot to learn. I was used to teaching, advising and mentoring others, so much of the accelerator was spent outside of my comfort zone which as we all know is where growth happens. It was a very humbling experience.
4.Techstars Anywhere took a human-first approach.
I’d be lying if I said building Raddle wasn’t mentally taxing. Startup life is demanding, requires a lot of risk taking, and is a roller coaster ride of emotions. Fortunately, prioritizing our mental health was stressed often during Techstars and there were numerous occasions where people in our program felt comfortable enough to admit when they were struggling.
5. It matters a LOT who is leading the program.
Ryan and Kendra were very hands on throughout our program and they are INCREDIBLE at what they do, as was their support staff. They set us up for success.
Ryan loves his job and it shows. He knows SO much about startups and is always willing to help where he can. He’s also the king of one-liners:
- “Build a great company.”
- “Make tomorrow better than today.”
- “Play like a champion.”
- “Do more faster.”
- “Until there’s decisions to make there’s no decisions to make.”
- “If it’s important enough to double the number, you can find a way to double the number!”
Kendra has since joined the Parabol (Techstars 19') team and Melani Gordon is the new Director of Operations. She shared:
I’m so grateful to work alongside a dear friend to drive the next phase of growth for Techstars Anywhere. Beyond the thrill of working with an acclaimed accelerator…I get to go on limitless adventures with a crew of pioneers.
6. There are no guarantees when it comes to fundraising.
Getting into Techstars doesn’t mean your fundraising work is done. We learned how to run a fundraising process, honed and practiced our pitch, and gained access to a deep network of people willing and able to make introductions to angels and VCs. Given that startups raise in stages, these skills are useful for the long run. But of course — we still have to do the hard work.
7. Access to a deep network of people who agree to #Givefirst for life!
Asking for help is a necessary skill to master if you want to succeed in business. While it wasn’t my strong suit, inside the Techstars network the cultural norm is to give first, so I got plenty of practice asking for help.
We’ve gotten intros, advice…you name it from tons of people within Techstars. (Shout out to Flikshop CEO Marcus Bullock, Jessica Alter, Whyzze founder Misti Cain and sales oracle Nora Khalili for doing us solids!) And of course — it works both ways :) Fortunately for all of us in the network— #Techstarsforlife is more than just a hashtag.
8. Can you have as rich an experience in a virtual accelerator as you can in an in-person?
Techstars Anywhere is a fully virtual accelerator. I have never attended an in-person accelerator, so am not one to compare, but as the co-founder of a live video platform where people collaborate during facilitated conversations, I know that if done right — connecting virtually can be productive and profound.
Here’s what Jake Disraeli, the co-founder of Treet and fellow Techstars Anywhere 21' alum, said about this:
I had my doubts on whether a virtual accelerator could replicate the same benefits of an in-person experience but Techstars Anywhere completely blew those concerns away. They were able to create a perfect blend between community, education, and mentorship, entirely on Zoom.
9. Leaving the nest was bittersweet.
When our 3-month program ended it was both relieving and scary.
- Relieving because running a company while attending Techstars felt like holding down 2 full time jobs at the same time. After it ended there was more time to apply what we’d learned and concentrate solely on our business.
- Scary because no matter how ready you feel there’s no way to know for sure without getting out there and doing it. Also, a part of me wondered, “Did we do it right? Did we extract as much value out of the Techstars program as possible?” It’s impossible to say. So all we can do is go out and build a great company, which we’re working on :)
So….was it all worth it?
Hell yeah!
Participating in the Techstars Anywhere program was personally and professionally life-changing for me. Being taken seriously by business savvy people you respect has a way of helping you take yourself seriously.
As a business, Raddle is much further along since joining Techstars. We grew our team to 4, solidified partnerships with industry-leading companies, and built lasting relationships with advisors, investors, mentors and fellow founders who continue helping us with various aspects of our business.
If you are thinking about applying to Techstars Anywhere 2022 here’s my advice:
- Don’t not apply because you suspect you’re not what they’re looking for. You don’t know what they’re looking for. It could be you. There’s only one way to find out. You could end up glad you did. If you don’t apply — you’ll never know.
- Be yourselves. I have it on good authority that what they’re focused on most in applicants is: TEAM, TEAM, TEAM.
- Put in the work. We put a lot of effort into getting in, focusing on one step of the admissions process at a time. First the application, then the first interview, the pitch, and so on.
- Give it your best shot. With a < 1% acceptance rate, getting in may feel like a long shot, but startup founders have to try at lots of things. Some pan out. Some don’t. All you can do is try and pocket every lesson along the way.
LINKS!
The application deadline is October 6, 2021.
- Here’s a link for more info and to apply.
- Here’s a link to a Techstars Anywhere Founder Interview I did with Melani Gordon. In it she shares some useful info and helpful tips for would-be applicants.
