Who are SourceOps?
Q: Can you give us a brief description of your company?
A: Yes, my company is named SourceOps. We are building a software agent that automatically performs penetration tests on software code. I was always drawn to the idea of joining startups or venturing into that space. However, initially, I felt I didn’t possess enough knowledge to kick-start my own enterprise.
But as time passed and I observed various startups scaling up, I chanced upon an opportunity, not just to join but to begin a company. The offer seemed appealing, and it presented a solution to a significant challenge I faced: finding a partner to start the business with.
Nailing the Application Game
Q: What was the application process?
A: The application process involved a few interviews. The first one was with a junior person from Antler who explained more about the program. The subsequent interview was with a more senior individual from Antler. It was a lengthier conversation where we delved into my objectives, background, education, and so on.
Q: Any difficulty during the processes that you want to share? Or was everything smooth?
A: The process was very smooth for me. From finding out about Antler through a post to when the program actually began, it was only about a month. The openness of everything really stood out to me. This might vary between offices, but their transparency was evident. Everything was laid out clearly — what they do, what they don’t, and it became apparent early on that they genuinely wanted the best outcome without any hidden motives.
What Happens Once You Get In?
Q: What happens after you get accepted what’s the program’s curriculum, what’s included?
A: Everything for how to create a startup. Especially the parts where I felt lacking. Of course, the technical side isn’t covered because you can’t cover everything. The focus is more on the sales process, building a company, finding venture money, crafting a good pitch, understanding what investors look for, and the art of convincing. There’s also emphasis on network building, and finding the right mentors and key people in the area who can guide and challenge your ideas. Some sessions were group work, while others provided the chance to sit one-on-one with successful individuals in the field to learn from their experiences.
Q: Did you have the chance to select a specific person that you’d like to meet, or did the program assign you a mentor?
A: There were sessions with different boards and advisors from the city and nearby cities where we could choose whom we wanted to meet. However, they also emphasized the importance of us reaching out on our own to find advisors. Although Antler facilitated many initial introductions, it was a chain reaction. One person introduced you to another and so forth. Within just three months, I managed to build a solid network in Software Security in Denmark, mainly due to the warm introductions from Antler.
The Benefits of the Program
Q: Apart from the money, what were the biggest benefits that you got from the program?
A: Even before the program ended, I realized its value. The money is one thing, but there’s so much more. The program introduced me to the venture capital world. It showed me how to build a company, the problems to expect, and the importance of networking.
Q: Do you have any aha moment that you want to share with us that you got during the program?
A: Yes, I had to choose between multiple ideas of startups in the cohort. Just a month prior, I would’ve jumped on any of them since they all seemed fun and interesting. But I had this realization. I wondered if it was truly what I wanted. This self-reflection showed me what I genuinely wished to pursue with my startup.
Q: Did you face challenges or difficulties with the co-founder matchmaking?
A: It was the toughest part. My specific field, cybersecurity, lacked expertise in the program. I couldn’t find the right fit within Antler. However, thanks to the Antler team and their wide network, they introduced me to someone from an earlier cohort. Our connection was immediate, and we pitched together in just two weeks.
What’s Next for SourceOps?
Q: Where are you focusing? What’s the plan for the upcoming months?
A: We are still in the development phase, and it’s been challenging. We had some technical hurdles we thought we could overcome, but things haven’t gone as expected. We’re still operating on the funds from Antler. By December, we’ll decide whether to continue or wrap things up. Regardless, it’s been a learning experience.
Q: Regarding growth channels, have you started any experimentation around growth and ways to reach potential customers?
A: The product we intended to develop already has interested customers lined up, waiting for its alpha version. Unfortunately, we’re not yet at a stage where we can provide this version. We found these customers by building a network within Sweden. Some of these customers, security consultants, have clients ready to test our product once it’s available.
Q: How did you find these customers? What’s your process?
A: Our network within Sweden was crucial. We identified a gap in the market for our product, and existing solutions weren’t cutting it. Some of the interested parties are security consultants with a clientele ready to test our offerings. They could potentially act as our salespeople.
What a Founder Should Know
Q: Do you have any advice for founders thinking about applying to Antler?
A: Before I joined, I researched reviews about Antler. They vary, and experiences might differ depending on the location. My advice is to understand the contract. It’s transparent, not overly complex, and shows that Antler’s goal is mutual success. They profit when they assist you, not exploit you. Even if you don’t secure investment, the program imparts valuable knowledge about raising funds or refining your product idea. It’s a worthwhile experience.