

Ask HN: Does it mean anything to have been a finalist for an accelerator? - somecola

I would like to think that being named a finalist for a highly acclaimed startup accelerator is a good sign, even if we were not selected. I am so grateful to have been considered and we learned so much from the experience. It certainly helped us to refine our product and it provided deeper motivation to succeed. So in these ways, it means a lot, of course. But does it serve as an indicator for the potential of the product?
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callmeed
I was a TechStars Seattle finalist this year. We applied with a product/idea
that was also implemented by another company in the most recent YC batch (I
also applied to that batch before TS but didn't get an interview).

To answer your last question, yes, I think it's somewhat of an indicator that
you have potential. It means, at the very least, you piqued the interest of
smart investors. Not getting in just means a few dozen people had better
ideas, better teams and/or more traction in their minds.

Of course, being a finalist doesn't beat having a product out in the market
that people are buying/using.

For me, it was a good experience doing the interview with TS staff/investors,
understanding what they want, etc. I've had moderate success with bootstrapped
startups–but the accelerator/angel/VC world is new to me. Knowing you were in
the top 25 applications out of 600 is an ego boost for about ... a week.

Here's the deal, though ... I've shuttered that idea. Partly because I know
other people now have a leg-up, partly because I'm not in a big metro where
it's easier to get traction, but mostly because I'd rather do something I'm a
little more passionate about (Cilantro) and experienced in. I've applied to YC
again–if I don't get in, I'll still plow forward. I've already got an MVP and
users. I doubt I'll apply to TS again (moving to the valley is easy for me.
Seattle/Boulder, not so much).

I don't know if that answers any of your questions, but that's what I got.

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somecola
I really look back on the experience as a stepping stone. We really got our
sh*t together after the interview. In fact we left the interview, went to a
nearby University commons and reworked our product on the spot. We learned so
much in that 20 minute interview that has helped us to make a better product.
Of course, hard evidence is required so we will have our proto up in a month
or so. Then we can begin the heavy lifting. Thanks for your response and good
luck moving forward!

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yesimahuman
No one says it's the final word. Often the way you pitch yourself will be the
way they turn you down. There are always other pivots you can make.

Who knows, you could have also been turned down for something they didn't feel
comfortable saying in their response so they gave you feedback but didn't try
to see the upside. There may be some elements of your team that accelerators
will shy away from. I would spend some time looking inwards if these types of
programs are what you want to get in to.

Good luck, and don't give up too soon! Can you share what the app was? My
email is in my profile if that helps. I'd love to check it out and give you
feedback.

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somecola
Thx. I did shoot you an email.

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abbasmehdi
I think I'd take you more seriously, but then I would also think "these guys
have some issue that is not immediately apparent". Unless you have a really
good and clear reason why you weren't selected, you'd run the risk of looking
proud to be a loser.

Sorry if the above sounds harsh, just trying to give productive advice. What
program was this anyway?

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somecola
For now I am going to keep the name anon. We surely did not have our ducks in
a row as we were very young in our partnership and product dev (1.5 months).
Now several months later, we feel we are on the right track and should be well
prepared for the next time. No sweat about your comments; I appreciate them.

