Investor at Mighty Capital and a mentor at Alchemist Accelerator
Accelerators focus on “product validation” which is one step beyond the “idea validation” that incubators concentrate on. The main objective of accelerators is to indeed accelerate the product validation process through training and iteration of a Minimum Viable Product (MVP) until a good Product-Market-Fit is reached. Hence, accelerators offer a training program or a curriculum that last from 2 to 6 months. Those programs cover critical topics including problems, needs, market analysis, competitive analysis, marketing strategies, business models, sales, distribution, financial projections, funding, and exit strategies. Such programs are very helpful for first time entrepreneurs but not so much for experienced ones. In addition to their program, accelerators offer a network of mentors and investors. The end of the program culminates with a “Demo Day” which is when companies pitch to investors. Some accelerators have facilities of their own while others use their sponsors’ facilities. Also, some accelerators stem out of VC firms like Y Combinator (YC) out of Google (mafia), while others stem out of VC firms like Alchemist Accelerator out of Draper Fisher Jurveston (DFJ). Accelerators offer some funding raging from as little as $10,000 and as high as $150,000 in exchange of 3% to 10% with the majority charging 7% of equity.
An inexperienced entrepreneur would greatly benefit from the program, assuming that it is a good curriculum taught by experienced lecturers. All entrepreneurs would benefit from mentors and investors associated with the accelerator. An experienced entrepreneur with connections does not need an …. Read More
Dr. David Saad is currently an Entrepreneur in Residence at Mighty Capital and a mentor at Alchemist Accelerator. He is a serial entrepreneur with 35 years of experience in the software industry. He founded, funded, and raised funding for 6 companies. His experience includes product management, engineering, outsourcing, offshoring, marketing, sales, business development, bootstrapping, and fund raising. His expertise covers specialties such as Rich User Experience, browser plug-ins, viral marketing, referral automation, social media, social networking, enterprise applications, mobile applications, database management systems, natural language processing, artificial intelligence, and operating systems. Dr. Saad is a public speaker. He earned a PhD with high honors in Computer Science, speaks four languages, was a Judo Olympian, and currently participates in senior national tennis tournaments.