Top Ten Questions to Ask When Applying to a Startup Accelerator

It’s hard to believe it’s that time of year again! Berkeley SkyDeck applications are open! Where did the time go??

Into Zoom, obviously. We are midway through our second remote cohort, and we have learned a ton about running a startup accelerator remotely. It has been awe-inspiring to watch our founders bring everything to their startups. Pandemic or not, they are all in.

To kick off applications, we prepared this list of Top Ten Tips/Questions for startups who are thinking of joining an accelerator remotely:

1. Network, network. It was important before, but now it’s the beating heart of a program. You can’t go to conferences or stroll into the local Philz Coffee to meet people and expand your network. Make sure the accelerator network is powerful, active, and full of relevant contacts.

2. Time zones. This is seriously hard. You can join an accelerator in a time zone way off from the one you live in, but you must prepare and allocate your resources intelligently. We have founders in many time zones and they make it work because they plan ahead and ask us how to manage their time and resources.

3. It’s not about valuation, it’s about value. For whatever percent the accelerator investment takes, will your startup be worth more than that by the end of the program? If the investment is for 5% of your company, will your company be worth 5% more at the end of the program?

4. Ask the alumni founders what they think of the program. Do your diligence on the accelerator, just as the accelerator will do diligence on you.

5. How much actual programming is there? Is there a comprehensive schedule for workshops? Will you be assigned dedicated advisors? Are there resource providers like law firms and accounting firm partners?

6. Who are the Advisors/Mentors? Are they active? What is their engagement with the program? Seek one out and ask.

7. Do you get to interact directly with the senior staff and fund managers or will you meet mainly with junior staff/managers?

8. How many investors come to the Demo Day? Do the fund managers work with the startups to meet investors before, during, and after Demo Day? What about when you are an alumni?

9. How has the accelerator been doing remotely? Have they kept up the same level of programming/events?

10. How long is the program? Many accelerators have a three month program. Now that the world is working remotely, programs can be longer. We think 6 months is better. Yes, that’s the SkyDeck program length :).

Our first cohort that was remote wrote an editorial in Techcrunch on the value of the program at SkyDeck. The founders said it better than we ever could.

Berkeley SkyDeck applications are open January 25 — February 22. Take your moonshot!