As someone who has successfully navigated the process of getting a tech projects accepted in by investors, I wanted to share some tips for those who may be starting this journey.
Incubators can provide invaluable resources for startups, including mentorship, funding, and access to a network of potential investors and customers. Here are a few steps to increase your chances of getting accepted:
- Research and target the right incubators: Not all incubators are created equal. Do your research and find an incubator that aligns with your industry, business model, and stage of development. Look at their success stories and alumni, and reach out to current members to get a sense of the community and resources available. PRO TIP: For example if your project is not a web3 project… pitching in front of web3 degens is very likely a waste of time.
- Prepare a strong pitch: Once you’ve identified your target incubators, prepare a compelling pitch that clearly communicates your product or service, market opportunity, and unique value proposition. Be concise, persuasive, and demonstrate a deep understanding of your target audience. PRO TIP: seriously don’t be an entitled A..ole. The reason is simple. If you come across this way, chances are that you are going to annoy a lot of people and that will increase your chances of not making it as founder.
- Leverage your network: Incubators often receive hundreds of applications, so having a warm introduction or recommendation can help you stand out from the crowd. Reach out to mentors, advisors, and industry contacts who may be able to connect you with the right people. PRO TIP: don’t underestimate this feature of life. 4 out 5 project that get my seal of approval come from a trusted referral.
- Be coachable: Incubators are designed to help startups grow and succeed, so be open to feedback and coaching from mentors and advisors. Be willing to pivot your business model or product if needed, and demonstrate a willingness to learn and improve. PRO TIP: refer back to point 2.
- Be persistent: Getting accepted into an incubator can be a competitive and lengthy process, so don’t give up if you don’t get accepted on your first try. Keep refining your pitch, building your network, and improving your product, and eventually, you may find the right fit. PRO TIP: there are literally hundreds of reasons why an incubator or a fund may decide to pass on your pitch that have nothing to do with your projects or you. Don’t play the Offended Card. It is not personal.
Getting accepted into an incubator requires a combination of preparation, networking, and persistence. But with the right approach, an incubator can be a game-changer for your tech project and set you up for long-term success. Happy pitching and Good luck!