Launching an organization is tough work. Even skilled founders don’t know what they don’t know, and having some construction and a bunch of like-minded folks can help you refine your concept and get the product off the bottom.
One option to build that camaraderie is thru incubators and accelerator packages. Speaking at TechCrunch Early Stage Boston final week, Matt Segneri, the chief director on the Harvard Innovation Labs, highlighted the significance of discovering friends and mentors to go with you in your startup journey, and incubators and accelerators can help build these essential relationships.
It’s straightforward to spin your wheels as a startup founder with out help, and connecting with a startup-focused group is an efficient option to discover people who find themselves in an identical place, Segneri mentioned. His group has been round for about 10 years, serving 3,300 enterprise founders from 150 totally different international locations, so he is aware of from whence he speaks.
However you do it, whether or not an incubator or an accelerator, you might be typically very early along with your concept, and that’s OK. That’s the aim of becoming a member of one among these packages.
“Essentially, these [programs] are just ways to support you at a really early stage of your startup,” Segneri mentioned. “We’re working with folks who are pre-idea and pre-venture, but I would say for most of these, save the university flavors of incubators, these are really efforts where you [may] already have a venture, but you may not have product-market fit, you may not have any revenue, you may still be figuring out your business model.”
Regardless of whether or not you take part in an accelerator, an incubator or a contest, Segneri says the best worth you get from these packages is the power to build relationships with folks you’ll carry with you all through your profession. And the concept is to build these connections and friendships as a substitute of making an attempt to go it alone.
“So this is fundamentally saying, how do you transform entrepreneurship from the solo sport that it is for many folks in the room to a team one,” he mentioned.