

Springboard application deadline (UK seed accelerator) - amirmc
http://springboard.com/call-for-applications-20-february/

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pclark
A lot of the comments here and the actual website is devoid of any advice
you'd actually find valuable if you were interested in applying to these kinds
of programmes.

Here are my two cents on what to look for (I don't know the answers)

* Who are the partners behind the fund, what have they done in the past (pre-investor) and what is their core skill (tech, product, marketing, sales, operations)

* Who have you previously invested in, and where are they now?

* Who are the limited partners of the fund - did any VCs/rockstars/partners invest?

* Why are you superior to Y Combinator? Startup accelerators are very popular now. They generally have the same mentors, the same deal terms, the same investors come demo day, the same "industry connections", whats your USP? (some good answers here might be specific domain knowledge of partners, a strong alumni, and so on)

I am always bullish when sites list such an array of mentors because being a
mentor is generally high upside (fame/feel good/networking/karma) and very
little downside - no skin in the game, as it were.

A buddy of mine once told me that equity was "quick to give away, impossible
to reclaim" - you're giving these guys a significant % of your company, be
sure they're good - and there is nothing wrong in applying for dumb money.
Just don't tell _them_ that.

~~~
jdbradford
Hi Peter

Good to speak again. Many points well made.

1\. Springboard is funded by 9 angel investors and NESTA, all of whom have
invested equal sums. All are very active investors and are seeking to find
more deals to invest in. We believe through the mentors involved we cover all
the key areas that a startup would need to consider. Where gaps exist we will
active seek to plug these gaps.

2\. Red Gate ran Springboard historically in a different format. Correct me if
I am wrong - since you worked alongside the teams - but of the four teams
involved - one received funding and two have gone on to YC. Under Difference
Engine, 5 of the 9 teams have been funded, including a team who received angel
funding and has gone to SV and one who has received £750k in funding.

3\. All of the investors can be found within the mentor group, but they have
for personal reasons not disclose their identity. Cumulatively, the investors
have had exits in excess of several billion dollars.

4\. I would not be so bold as to suggest we are superior to YC - the grand-
daddy of accelerator programmes. The major issue in Europe is the lack of
these resources. We are seeking to address a deficiency in the market and we
have a proven track record.

5\. Interestingly most of my mentors are massively busy and for them to take
at least a full day out of their diary is a significant commitment for them.
None of my mentors get paid and give freely of their time.

6\. I personally don't think that 6% is a significant %. Do we believe that we
can add at least 6% value to your business by taking part. Absolutely, many
times over.

It would be good for you to clarify what you mean by dumb money - working
alongside the programme mentors for the 13 weeks is quite the opposite - their
insight, guidance, contacts and introductions is invaluable.

Happy to discuss this further offline, if you need further information. As you
know - you can get me on jon at springboard dot com.

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amirmc
Springboard review by profquail (and agmiklas)
<http://news.ycombinator.com/item?id=2123670>

Some previous discussion about Springboard
<http://news.ycombinator.com/item?id=1921166>

~~~
pclark
TidePowerd didn't give up any equity for Springboard money (it was the
previous fund)

~~~
jdbradford
Peter

To make the programme sustainable in the longer term, unfortunately it has
been necessary to adopt a similar model to YC and TechStars. I am sure you
agree that the provision of similar programmes should be encouraged.

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jkent
There are a lot of suspiciously low-karma and recently created accounts
commenting on this.

~~~
amirmc
I guess some of the mentors on the program didn't have HN accounts before.

Is low-karma by itself suspicious? When I checked, some of commenters'
accounts are 1000+ days old.

~~~
pmjordan
It's only suspicious because the comments are essentially non-specific praise
and add no actual value to the reader. They look like cheap shills; if they
are in fact shills, that's not exactly inspiring to potential applicants.

There's nothing wrong with promoting the programme here, of course, the weird
comments just seem... weird.

~~~
squirrel
I made one such comment below, whose main point was "I am participating in
this". I thought it would be useful for readers to know this is a real
programme with real mentors and not, for instance, some kind of scam. (I don't
know anything about the investors, so didn't comment on that aspect.)

My karma is indeed low - no time for big contributions - but I'd hoped some
folks would know me from youDevise's sponsorship of HN meetups in London.

If mine wasn't a useful comment or led to confusion, I apologise.

~~~
pmjordan
First of all: _I am one of the people you are trying to reach with this sort
of programme._ My comments are intended as feedback on how you present
yourselves, I'm not trying to to imply anything about the quality of the
programme or the people involved. I certainly didn't come into this discussion
with any kind of negative bias.

If I'm giving up equity, especially for relatively little money, I want to
know I'm getting a good deal. pclark's comments on this thread are basically
spot-on in this regard, so I don't need to add much. These concerns do need to
be addressed though.

 _I thought it would be useful for readers to know this is a real programme
with real mentors and not, for instance, some kind of scam._

It's good to know that it isn't a scam, though that's kind of a minimum
requirement. I'm curious about the alignment of interests between investors
(who presumably own the equity the startups are giving up) and mentors (who
seem to be doing the leg work).

Quoting your comment elsewhere: " _I am helping these guys out as a mentor.
Seems like a good idea._ "

With all due respect, that doesn't sound overly enthusiastic. From your
comment above, it sounds like you don't receive equity. Do Springboard pay
you? If not, what's in it for you, other than karmic retribution and a CV
bullet point? Why allow Springboard to advertise using your name?

These questions may seem nosy, but I think they are legitimate concerns. I'm
trying to understand the "product" here.

~~~
squirrel
I don't run the programme and am not particularly trying to "reach" you. Just
think it is of interest to the HN community and worth an upvote and brief
comment.

I don't receive equity and don't have anything to do with the investors in the
programme. I do expect to make contacts with interesting people who have an
entrepreneurial bent - generally, people I meet like this help me learn things
my team and I can use, and sometimes they help me find people I can hire.
Those are two of my main missions as CTO of youDevise.

Springboard don't pay me. I'm not aware they're advertising using my name, but
if they were I'd ask them to include my company's name too, which would help
us to get better known and (I hope) attract more smart people to apply for
jobs with us.

Edit: They _are_ advertising with my name! <http://springboard.com/douglas-
squirrel/> The bio's a bit tired but it does mention my company, which is good
enough for me.

~~~
pmjordan
Helpful information, thank you!

 _I don't run the programme and am not particularly trying to "reach" you._

I realise that; my questions aren't necessarily directed at you specifically.

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screenreach
Guys,

My name is Paul. I am CEO and Founder of a company called Screenreach
(screenreach.com) which was on a programme called The Difference Engine which
was basically the trial run for Springboard.

So I can speak from first hand experience of being on the programme and what I
actually got from it. When we entered the programme we started with a
technology. We used the programme to help accelerate the business and to
really help put meat behind the areas where we were lacking.

Over the 13 weeks we effectively went from a technology to a business that was
investor ready. At the end of the process, we started to put a team behind
Screenreach (one of my mentors joined us fulltime), 2 days after the process
finished we raised £250,000 from an angel who also joined us as our chairman
and we really have gone from strength to strength.

We are now expanding, just raised another round and have a really strong
management team behind us.

The programme really helped us achieve this and as it says on the tin,
accelerated us through the process.

Happy to discuss further with anyone who wants to know more, just drop me a
line.

Paul

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ladon86
Are there any previous participants in this programme willing to say a few
words about the experience?

~~~
Spoutingshite
The team behind SpringBoard ran the Difference Engine for a few sessions
(<http://thedifferenceengine.eu>) which due to the lack of public sector
funding is closing this year.

Unlike The Difference Engine, SpringBoard has private sector funding. My
understanding is that this is the first intake for SpringBoard.

~~~
jdbradford
For an example of the impact which the programme can have check out
ScreenReach who took part in the Difference Engine a programme I have
historically run.

[http://eu.techcrunch.com/2011/01/27/screenreach-
raises-50000...](http://eu.techcrunch.com/2011/01/27/screenreach-
raises-500000-for-its-screach-app-and-platform-for-smartphones/)

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raduticiu
They are totally open to collaborate with diverse incubation programs allover
Europe. It was great to have Jon Bradford in Timisoara (Romania) Software
Business Incubator, one week ago, facilitating his meetings with regional
startups and potential investors.

~~~
radu_floricica
At least this comment is legit guys, Jon Bradford _has_ been in Timisoara, and
Radu Ticiu was a host.

Startup incubators are picking up pace in Europe, so don't be surprised if you
get people coming to HN because of them. Make sure they're welcome!

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pmjordan
The timing of the deadline strikes me as very odd. Is there a good reason to
make it 5-6 weeks before YC's? What if a startup applies to both? Why should
you choose Springboard over YC or any other accelerator? With so many mentors,
who has what stake in the startup? I don't see any of these questions
answered, and they're just what comes to mind immediately. Surely these are
very important pieces of information for applicants.

~~~
jdbradford
Phil

I am humbled to think that we can compete with Paul and his investors
(including their $150k). Seriously, we announced the deadline in mid November
when we launched. PS if you know any YC applicants who would like to apply -
send them my way.

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coldclimate
If it's anything like some of the other tech accelerators that some of the
mentors have been involved with, Springboard is looking freakin awesome.

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ibroom
This is an important program for the UK as it is one of the few mentor
programs available. If you're a startup check it out.

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leithy
Its a great initiative for Europe, it is what is needed to advance the
ecosystem further here in Europe.

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jdbradford
I really look forward to working some great teams over the next few months.

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squirrel
I am helping these guys out as a mentor. Seems like a good idea.

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naithemilkman
Great news for the UK tech scene!

