The Seed Accelerator Rankings Project reports over 150 accelerator programs in the United States. In India too we’ve seen a large number of accelerators pop up over the last two years. Yet this last week, Dave McClure of 500Hats was quoted saying “If you think that running a startup is a bad idea, then running an accelerator is an even worse idea” at StartupIstanbul.
Yesterday I attended the Demo Day at Brandery, (ranked #12 accelerator program) based out of Cincinnati, thanks to an invite by Tony Alexander, ex-entrepreneur and GM of the Brandery. The day was eventful for many reasons – all of which I’m hoping to write about. But the thing that struck me most was how the Brandery has followed much of the advice we give entrepreneurs to set itself on the path to success. Not just accelerators but regional ecosystems everywhere can take a leaf or two out of the Brandery’s playbook.
By playing to their strengths and clearly articulating what those are, the Brandery have set themselves up for success. The short version:
- Focus strong & narrow focus on branding, marketing and design, playing to their strengths
- Partnerships Strong local ties with consumer goods & retail firms – both as investors and partners
- Geographic Mix Attracting startups from around the country (& the coasts) to magnify networks
- Metrics Measuring and reporting key outcomes – exits, startup equity raised, jobs created
- Long game focusing on their entire ecosystem and the long run gets community commitment
Of course they offer the table stakes that all accelerators & incubators need to bring – strong mentors, equity, good cohorts and co-working space. I’ll get a longer version of the insights garnered hopefully soon.