Caya: It's widely accepted that YCombinator is the Top Accelerator, Why?
Andrew: So, the funding network is fantastic and, in part is that virtuous cycle taken to the nth degree, right?
If it is the best, you want to be in the best, so, they get their choice of the best. So, that's great and I don't envy them that at all. In fact, part of the reason DreamIt went later stage, is because we're all pretty competitive guys, and well you know we could be top five and our fund would do really well, we could make good money... F*ck it, we wanna be number one.
We actually started, believe it or not, talking to startups, and we said, what do you think of when you hear Y Combinator? "Best funding network ever".
So, what do you think when you hear 500 startups? I can ask you that, what do you think of?
Caya: I mean we love 500 Startups, but I think that the actual name points to that, it's this network of startups and the collaboration between them that, makes it probably one of their biggest strengths.
Andrew: That's very interesting. We did get some of that.
Most people we talked to said, Growth Hacking for b2c, that's where they shine. I think your experience pour that out also.
Then when we asked them about DreamIt, they would say some variation of Biz-Dev like 'you got us our first pilots', 'you get people those first critical pilots'. Then as we went further down
on the list, that kind of instant, 'what makes them different'... faded.
We got like, "oh yeah they're a good program," or you know "great," or, "best in region X."
But there wasn't that kind of clear flavor that went with anyone below. It was interesting. That was one of those other weird moments we had, oh my god, we have all these later state startups that want to work with our corporate partners and corporate partners with our later stage startups.
Why aren't we connected? You're like, the offers is getting in the way, we had to change that offer and we changed a lot of other things. And, where can we...
Caya: where can you be number one?
Exactly! And the whole post-seed program, if you think about it is, 2,000 plus accelerators incubators playing pre-seed. How many are even playing post-seed? I'll tell you what... I'll make it easy on you, name the other one!
Exactly, so there we go.