This Week in Startups E1066: The Power of Accelerators E6 David Brown, CEO & Co-Founder of TechStars on leading the virtual accelerator trend, benefits of going global, sustained vs. temporary changes from COVID & more!
May 27, 2020
David Brown, CEO and co-founder of Techstars, discusses the shift to virtual accelerator programs and the key strategies for sustaining success post-COVID. He shares insights on the ideal number of companies per cohort and the impact of remote models on global entrepreneurship. Brown highlights how personal relationships are often as vital as metrics in funding decisions and explains how Techstars selects mentors by prioritizing feedback from mentees. He also explores the potential for more entrepreneurs to emerge in a post-pandemic world and addresses the dynamics of B2B versus B2C startups.
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Early Pandemic Warnings
- TechStars' global presence provided early warnings about the pandemic's impact.
- The Singapore and Italy accelerators went virtual before others, giving valuable experience.
Four Accelerator Models
- There are four types of accelerators: virtual-only, virtual-first, in-person-first, and in-person-only.
- TechStars aims to master all four to adapt to future changes.
Virtual Presentation Tips
- Ensure good AV setup for remote presentations: use a new computer, ethernet cable, and a proper headset.
- Optimize the demo day pitch format for virtual presentations over Zoom.