Surrounding Yourself With Other Startups Will Not Guarantee Your Company’s Growth
This time a year ago, I was in a similar position as many of you who are out there building startups. I was spending numerous hours working feverishly to apply to several startup accelerators, from Summer@Highland to University of Chicago’s Polsky Accelerator. Nervously waiting for decisions, I finally heard back from the University of Chicago’s Polsky Accelerator accepting us to fill one of ten spots in their first class.
Our startup, Kip Solutions, is a social media consulting firm for social causes. We had significant traction before applying to accelerators: we had raised $10,000 for a client in Cameroon, and were already featured by Inc. Magazine as one of the Coolest College Start-ups for 2012 and Kairos Society selected us one of the Top 50 Most Innovative Student-Run Companies.
During my first week at the Polsky Accelerator, I was most excited to be surrounded by some of the best startups in Chicago. Among the final ten were startups like Moneythink, which had just been featured at the White House, and Zipfit, which opened a store on the prestigious Michigan Avenue in Chicago a few weeks after the accelerator program ended, and is now opening a second store.
I’ve always been told that the best thing about being in an accelerator is being surrounded by individuals who are going through similar challenges. But now, nine months since the completion of the Polsky Accelerator and the recent acquisition of Kip Solutions, I can’t say being constantly surrounded by startups is the best way to accelerate your company.
Instead, here are my four tips to help you truly accelerate:
This time a year ago, I was in a similar position as many of you who are out there building startups. I was spending numerous hours working feverishly to apply to several startup accelerators, from Summer@Highland to University of Chicago’s Polsky Accelerator. Nervously waiting for decisions, I finally heard back from the University of Chicago’s Polsky Accelerator accepting us to fill one of ten spots in their first class.