CruiseBe story. Our story. P.3.
Previous part of this story — CruiseBe story. Our story. P.2.
Participation in the final selection
It consisted of two parts. About 40–50 startups were selected. The first part was a two-minute pitch for investors, mentors, and partners of the accelerator. The second one was a personal, six-minute interview with two investors. After that, there was a small party. Already on the way back home, we were informed that we got in the accelerator, and they were waiting for us in Dallas in 3 weeks.
We got in Tech Wildcatters. It was one of the leading accelerators in Texas, which hit the top 10 by Forbes and became the leading B2B accelerator in the US according to Inc Magazine.
I’d like to tell you about the program, which fit our venture and differed completely from the accelerators we knew. Here it is called The Gauntlet, and our class was the first one to partake in it.
It’s pretty simple: the accelerator helps the companies at all stages of development, not only during the first three months. Upon reaching each level, the company receives a certain amount of funding. The last level opens up the opportunity to get seed investment.
The requirements for each level are different, but all of them are aimed at the company’s entry into the market. We liked that it was not necessary to be in Dallas until the third level. We had the opportunity to finish our business in Ukraine and prepare for the moving more deliberately. There are quite large Pitch Decks 2–3 times a year.
We managed to visit the fall one:
Some information about the start-up microclimate
Dallas is still not quite a “startup” city. Many people say that microclimate in Austin, for example, is more in tune for start-ups. Besides, company’s profitability is important here. That is the time of investing in ideas either ended or never happened here. In any case, it is not common.
In general, it seems like the establishment of the start-up culture is slowly happening in Dallas. There are all prospects to get a great start-up hub in five years here. Development goes by leaps and bounds. They are planning to build a new Midtown with a cost of $ 20 billion. A new park is being built. It will be12 times larger than Central Park in New York.
The most important thing for a startupper is that good deals are made here. In the third quarter of 2016, companies in the early stages attracted more than $ 274 million of venture capital here. This trend is growing. The most surprising thing is that despite the interest in fintech, VR, and other hot topics, there is also a place for travel projects. A partnership with such companies as Saber, American Airlines, and Traxo gives good prospects.
Finally, as for life in Dallas, it is much cheaper than in any other megacity of the USA. It is possible to find a one-bedroom apartment for about $ 1000 per month (it is not a room in New York or San Francisco for $ 4000).
How to venture upon such step?
Some people ask whether it’s hard to leave, whether it’s hard to start in another country, in another society. This question has many facets.
Firstly, we are far from being the first foreign project that got to the USA. Although, apparently, we are the first startup not only from Ukraine but also from Eastern Europe in Dallas.
Perhaps we got there at one of the earliest stages, but it does not matter. In any case, we’d like to thank the teams that came to the US before us. They helped us with advice.
Secondly, it was probably a bit hard, because we are both the founders and the spouses in our project. It is hard to disconnect work from personal life, moreover when moving to another country. Probably the most difficult thing is to create a company and settle in a new place simultaneously.
Thirdly, everything depends on your adventurism and the willingness to work hard. If you have these qualities, then all the difficulties, no matter how trite it may sound, can be easily overcome.
The most important thing is to have self-determination, the willingness to always change. You also need to understand that this is not a school. Nobody gives a damn about you. Of course, everyone is very friendly, everyone is ready to help and invest in you, but you need to realize that this is your company, your product, your idea, and only you are responsible for what is happening. A conditional “angel” or mentor will give advice at the most. You must make all decisions on your own. You are an entrepreneur now!
Well, of course, everything depends on the product itself. There are a million ideas for which it is much better to stay in Ukraine. There are ideas for which you need to go to Israel or Asia. A single formula for success does not exist. If one is an entrepreneur, the question “How to venture upon such step?” will never arise. When one understands what they need to make the idea happen, the decision will come by itself. It’s some startup magic when you wake up and realize: I’m ready.
And finally, advice that helped us a lot: “You should only listen to the opinion of people with real experience. All the other advice just simply note”.
To be continued…
