There is no shortage of advice on how to get funded – Lots and lots of sophisticated advice.
Does it work? Yes.
Does it work for everyone? No.
For whom does it work then? It helps investable companies to get funded.
I have now invested in 27 startups over the last few years. Admittedly, we live in a great funding environment.
In all these investments, I have only seen a single company that should have been funded fail to raise. All other well performing companies raised a round. And in addition, a few that may have been less deserving.
The reason? Angel and VC investors by now are pretty experienced when it comes to picking companies. There are more active investors than high quality startups – the good ones get funded.
When we launch an accelerator program, I say the same thing to all founders: it is not my job to get you investors. It is my job to help you build an investable company. Once you have that, you should be able to raise the capital you need.
How do you build an investable company?
In my experience, founders go through some stages:
- Idea and first customers
- Insight and more customers to validate insight
- Building a marketing, sales, product, etc. machinery
- Building out the business
Each time, when you progress from one stage to the next, you become more investable. More progression, more investable, etc.
Now you know why it is called an accelerator. We work with companies to accelerate them to the next stage.
www.metroaccelerator.com is focused specifically on those startups that have a focus on hospitality and food tech.