When talking to founders about NMotion’s accelerator, I have heard a common concern – that they are “too far along” to get benefit out of going through an accelerator.
There are a couple of reasons why that is almost certainly not true.
First, accelerators exist on a spectrum and serve very different target “audiences”, just like businesses. Some accelerators serve startups that are still validating their ideas and figuring out how to test them out. Some accelerators are really only interested in startups that have raised a seed round, built a product, have a complete team in place, and are on a path to raising a Series A round. These are very different stages.
(Pro tip: Lots of accelerators, including us, are pretty explicit about what they’re looking for. Do your research and invest time in applying to the ones that make sense for the stage you’re at.)
In the past, NMotion has accepted startups at different stages, from back of the napkin to $10K MRR. As our ecosystem and network have matured, we’re in a position to get a lot more focused on who and how we help startups in our 90 day program.
This year, we’re looking for startups that have validated their concept with potential customers and have tested the market with an early MVP.
What does that look like in practice?
We want to know that you’ve completed customer discovery (surveys don’t count) and proven that there are early adopters who acutely feel the pain of the problem you want to solve, that you’ve found a massive market opportunity with high-growth potential. We also want to know that you’ve given some thought to why your team is best poised to solve this problem right now and can win.
In terms of testing the concept in the market, we’re interested in startups who have built an MVP and sold their “solution” to customers. That means real revenue, not free beta testers. Your MVP can be as simple as a concierge-style service that approximates the value you can create with a custom product in the future. What we’re looking for is startups that have tested and learned from their MVP, iterating on the solution based on feedback and data. And sales! Sales are the best way to prove to us that customers value what you are building.
Once you have completed those steps, our accelerator is poised to help you turn this scrappy startup into a growth-stage company. We’ll help you test business models, pricing, customer segments, and distribution channels to find the best path forward. We’ll look at your financial model/metrics, unit economics, and test marketing and sales channels, so you can focus on traction. And finally, we’ll provide a ton of support around legal, accounting, HR, and fundraising, so that you’re ready to focus on raising a seed round post-Demo Day. And of course, we’ll surround you with mentors, subject-matter experts, workshops, and a community of growth-stage founders to help you navigate these challenges as quickly as possible.
In an accelerator like NMotion, you can make two years of progress in 90 days. And not just because you’re working hard, but because you’re surrounded by other founders at the same stage as you, getting mentorship and support for the challenges that could take months or years to solve on your own, and working with our accelerator team to remove obstacles and focus on the right things at the right time.
Are you ready to move your startup forward faster?
Questions? Shoot an email to email@example.com