Our Journey in a Pre-Accelerator Programme
Swapoffi
10 Aug
When we got the email to say “You’re In”, which went on to say that Swapoffi had won a place on the NDRC’s Pre-Accelerator programme for start-ups, we were delighted!
This opportunity demanded a video interview following our online application. Reflecting back, it's striking how our initial application deck transformed over six weeks, emerging anew on Showcase Day. An impeccably crafted and contemporary slide deck emerged as one of the triumphs from this remarkable journey.
The parallels to contestants on MasterChef, who immerse themselves in culinary artistry, now resonate with me. Their world becomes a tapestry of recipes and flavours. Similarly, life in a Pre-Accelerator centres around refining pitches and crafting pitch scripts. You eat, sleep and dream pitching and pitch scripts.
For all start-ups, this investment of time holds immense value. Even if you don't currently plan to pitch to investors or venture capitalists, it’s time well invested.
Building Start-Up Credibility: 11 Reasons to Apply to a Start-Up Programme
Here are just some of the benefits we got from being in the NDRC Pre-Accelerator:
- Embrace the Credibility Boost:
- Saying “we have been selected for the NDRC Pre-Accelerator” resonates more profoundly than any words we could utter. Such labels offer reassurance, and validation from external sources lends authenticity.
- Access to Expertise and Successful Founders.
- There are a lot of experts associated with start up programmes and incubators. You gain access to these. Think carefully about what topic you most need to make the most of this opportunity. I loved the honesty these experts gave us. They weren’t selling anything, so the advice was true and relevant. It's a different vibe talking to experts as a programme participant instead of an individual.
- Get Access to a Network.
- The NDRC team's responsiveness extends to facilitating introductions. Their robust connections, nurtured through regular participation in start-up events, foster synergistic relationships. They open pathways, enabling you to connect with like minded individuals. The sudden influx of resources becomes a treasured asset. All of a sudden, you have more resources than you know what to do with.
- Meet founders.
- Networking exposes us to fellow founders who navigate similar stages. Mutual learning, the exchange of insights, or even a shared laughter over a beer all enrich our journey.
- Partake in and Enrich the Start-Up Ecosystem.
- The start-up ecosystem in Ireland is huge. You will often hear that Ireland is a great place to start a business. It’s a small country so people know each other or can introduce you to some-one they know. While advantageous, international scaling becomes imperative due to the limited domestic market.
- Hone Pitching Skills and Scripts.
- Just as our initial presentation deck evolved, so did our pitch script through this program. I seized every chance to present during the program. The questions people asked at the end told me what parts of our story were not obvious and needed improving, so I could incorporate those into the next version. The experience gave me comfort in this art, balancing modesty with highlighting personal, team, and company milestones.
- Embrace the Era of Video Pitching.
- You need a video pitch. That’s it. Things have moved on from ‘send me your pitch or business plan’ to send me your video. At least as a first step. Thank goodness for Loom.
- Adapt Your Business Lingo.
- If like me, it’s been a while since you were in the corporate world, business terminology can and does move on. Market Research - it always sounded dull to me which is a shame as you can learn amazing things from listening to your market - is now referred to as “Customer Discovery” for example. As a former lecturer in Market Research, the term ‘Discovery’ certainly portrays more of the excitement and genuine gold findings market research always uncovers.
- Open Pathways and Opportunities.
- The accelerator transitioned us from seeking doors to having doors opened for us. This paradigm shift is most welcome.
- Understand Investors' Wants and Needs.
- It was illuminating to learn how accessing finance for start-ups works. It has allowed us to consider not just if and how, we could attract investment, but who might be the right partner? what our attractiveness to investors might be? How would we make ourselves more valuable? and the importance of staying in touch with this community, particularly around our milestones and progress.
- There is free beer at all the meet-ups.
- Just in case the previous ten reasons are of no interest to you at all, there is free beer, coffee, water, juice, croissants and sambos at all events. Master the art of eating in one hand without food stains, whilst chatting to people about your business and you’re already a winner!
For those contemplating participation in a start-up or pre-accelerator programme, do not hesitate! But brace yourself to put life on hold. Sweet dreams.
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