I spent the first three months of 2020 in Amsterdam, thanks to my selection for the Antler program. Antler is an early-stage VC on a mission to build next generation tech start-ups. Unlike other accelerators which invest in start-ups already with an MVP or traction, Antler picks entrepreneurial individuals, funds them with a stipend and lets them work as teams before presenting to the Investment Committee (IC). I thoroughly enjoyed the program and wanted to share my experience. As a marketer, I love the 4P model, let’s understand the 4Ps of Antler program.
1. Process (Recruitment): Seamless
The recruitment process at Antler is designed to be super-simple for the applicants. Can you believe that you can apply just by entering your Linkedin profile, that’s all. No details to be filled, no videos to be made, no questions to be answered. My dear friend Tjasa explained all the work behind the scenes, it is very rigorous exercise. Over 1700+ individuals have applied for the Amsterdam cohort and they chose just 70. The entire process is optimized for the applicant’s experience to the extent that the interview style is customized to the applicant’s 16personalities type. The process has three rounds of video interview followed by an aptitude test. Full marks to Antler for making this process so easy and so super-streamlined!
2. Profiles: International & Eclectic
The Antler cohort is incredibly international and eclectic. The cohort of 70 founders came from 30 nationalities. Of the 70 founders, only 15 were local Dutch nationals, rest of them were from Europe, India, Canada, Singapore etc., We had business leaders from various industries, management consultants, data scientists, geeks, art-connoisseurs, growth marketing leaders and one full-time music teacher. The youngest cohort member was 25 and the oldest 45, the ideas were just as diverse. We discussed sports, B2B, food, health, fashion, vices, blockchain, jewelry, diamonds, pretty much everything under the sun. 1 in 2 founders had already built a successful company. There is so much I could learn from this diverse group. I only wish Antler also recruited a couple of doctors/healthcare professionals in the cohort. Maybe next time!
3. Promise: Stipend, Firm Decisions & Global Network
Many wannabe entrepreneurs never take the plunge for the fear of losing sustenance. Antler understood this very well and funds you with a decent stipend from day one. While this stipend may not be sufficient to fund your family, it is enough to take care of your solo sustenance in a foreign location. I was paid €5,000 for 10 weeks, which was enough to take care of my two-way air fare, rent, local commute, food and other essential expenses.
VCs are notorious to keep the entrepreneurs in a warm state forever, without a definitive yes or no because they are evaluating industries and options every single day. However this program culminates with a firm decision and money (€105K) in the bank within 4 weeks. We were conveyed firmly that Antler would not want to invest in our ed-tech idea.
Antler has a wide international network of advisors from top startups and VCs across the world. In our journey, we were lucky to have been mentored by senior leadership from VIPKID & Saison Capital, apart from several experts who were focusing specifically on pitch deck, delivery of the pitch etc., Each team is assigned a mentor from the local Antler leadership team and advisors from the global pool. The pitch deck is like a sculpture chiseled a million times by the feedback of the mentors and advisors. I hear from the startups which raised seed money from the IC that the advisors continue to support them over the long term.
4. Program: Fun, Collaborative & Rigorous
The first two weeks of the program are fairly packed with energizer sessions starting from 8:30AM and design sprints running till late in the night. We had master classes by exceptional VCs like Andreas Birnik in the first two weeks.
The Friday drinks session is the best way to know about each other. We visited 10 different pubs on every Friday evening through out the entire program. Oh yes, in the Dutchland, you have to pay for your drinks:) We had an Antler-sponsored team-outing on the second Friday of the program.
After the first two weeks when you get to know almost the entire cohort, the “tracking out” starts. This is when you get to pair up with your potential co-founder and start working out on your ideas. The program is designed in such a way that the value of mentorship accrues only to teams and individuals cannot avail the mentors’ hours, hence there is pressure on everyone to pair-up. The human dynamics are on full display now, you will see people wooing each other, teams pairing up, splitting, re-grouping and bit of politics to break other groups. The whole scene is no less than Big Boss, but worth every moment. After countless hours of working together, mentoring, the program culminates with the investment committee (IC) pitch. The IC constitutes of the Antler local leadership, global Antler team and a few external VCs from the local ecosystem. The successful startups from the IC then incorporate the firm, work on the prototype and be ready for the Demo-Day which happens 3 months from the IC. Demo Day will have external VCs from the local ecosystem.
Final Words
If you have a burning desire to build tech to solve a customer problem and if you are keen to take the plunge into entrepreneurship, I would strongly recommend that you apply for their next cohort starting August here. Go for it. Good luck!
By the way, Antler is present not just in Amsterdam. Antler runs twice-a-year parallel cohorts in Singapore, Amsterdam, London, Oslo, Stockholm, Sydney, Nairobi and New York. One question though for Antler, when will you come to India?
Bonus: there is a hidden, fifth P called the premise. What is the premise on which Antler is betting? More on it in my next article. Please comment below with your feedback on the article.
I act as a “CMO-on-demand” and help startups define the user persona, problem statement, go-to-market & innovation. If you are looking for a sounding board, you can call me here.
