Introducing Viktor Nekrylov from DRCT
Q: Could you introduce yourself and your startup, DRCT?
A: I’m the founder of DRCT, a startup operating as an NDC aggregator in the aviation industry. We develop software for airlines to help them distribute their content, including airline tickets and ancillary services. Our role is twofold: on one side, we integrate with airlines’ inventory systems, undergoing all necessary certification processes to access passenger data. On the other side, we work with ticket sellers, such as meta-searchers like Skyscanner or Kayak, and travel management companies like American Express, Expedia, or Kiwi.
Q: What inspired you to start DRCT?
A: My background is in airline distribution. I previously managed a company selling airline tickets, and we were always looking for ways to reduce distribution costs. That challenge led to the creation of DRCT.
Why Plug and Play?
Q: How did Plug and Play become involved with DRCT?
A: Plug and Play, known for their specific stream for travel and aerospace businesses, invited us to join their acceleration program. This opportunity was appealing, not so much for fundraising, but for the extensive network connections in the aviation industry. Collaborating with Plug and Play opened doors to larger airlines, which are crucial clients for us. Their network includes prominent names like Blue Ventures, JetBlue Airlines, Air Canada, and others. For DRCT, joining Plug and Play was a strategic move to expand our industry connections and client base.
The Application Process for Plug and Play Accelerator
Q: Can you describe the application process for Plug and Play?
A: Personally, I wasn’t directly involved in the application process for Plug and Play. Our team handled that part. However, I do recall answering some questions for the application. From my understanding, it wasn’t particularly challenging. There were interviews involved with individuals who were responsible for reviewing our application. These interviewers were quite knowledgeable about the industry, which made us realize the value of being part of such a network. While I can’t provide detailed specifics since I wasn’t directly involved in the paperwork, the feedback from my team suggested that the process, though straightforward, was conducted by professionals who were thorough and competent in their evaluation.
Q: Did DRCT receive any funding as part of the admission to Plug and Play?
A: No, we didn’t receive any funding upon admission.
A Typical Day in the Accelerator
Q: What was a typical day like in the Plug and Play program?
A: The program was quite structured and involved regular engagement. I attended all sessions, which occurred about three days a week. Each session, lasting around two hours, featured industry experts presenting various topics, focusing more on an educational aspect. In addition to these sessions, we had weekly calls with our assigned supervisor or point of contact at Plug and Play. Overall, I was actively involved in the program for approximately eight hours a week. The structure was designed to provide both knowledge and direct interaction with industry professionals, which was quite beneficial.
Reflecting on the Impact and Effectiveness of the Plug and Play Program
Q: What are your overall impressions of the Plug and Play program, and what aspects do you think were most beneficial?
A: The primary advantage of the Plug and Play program was the access it provided to a great network. Their approach of delving deep into our project was particularly impressive. The professionals involved in the program were not only highly competent but also genuinely interested in helping with practical advice. This aspect was invaluable for us.
Q: Did you find any limitations or areas for improvement in the program?
A: While Plug and Play offered a strong network and fundraising guidance, they weren’t experts in our specific industry, so there were limits to the specialized advice they could provide. A notable downside was the perception that many participants in the program were more focused on being part of Plug and Play for their own benefit rather than genuinely helping startups. This aspect somewhat diluted the value of their mentorship.
Q: Do you think the program met your expectations in terms of accelerating your startup?
A: Frankly, the program didn’t fully meet our expectations. Although it was beneficial for education and networking, it lacked in terms of actual acceleration. We anticipated more tangible outcomes like fundraising or strategic networking that would directly facilitate our growth. The program could improve by engaging speakers and mentors who are truly invested in aiding the startups to progress, not just in providing education. Overall, I came out feeling a bit underwhelmed, as we expected more substantial support and acceleration from the program.
DRCT’s Progress Post-Accelerator and Future Goals
Q: Can you talk about DRCT’s status post-accelerator and any impact the program had on your current achievements?
A: Post-accelerator, we haven’t seen a drastic change in our company’s status. While Plug and Play did connect us with some VCs, we’ve shifted our strategy away from fundraising to focusing on generating revenue through our business model. It’s beneficial to have these VC connections for potential future needs, but as of now, our status hasn’t been significantly altered by the program.
Q: Have you maintained connections within the Plug and Play community, such as with mentors or alumni?
A: Yes, we remain well-connected within the Plug and Play network, especially with VCs and professionals. However, the mentorship aspect wasn’t as strong as expected. While we had access to knowledgeable individuals for advice, there was a lack of dedicated mentorship. Most interactions were more akin to lectures rather than active, personalized guidance.
Q: What are DRCT’s next milestones, and do you feel the accelerator prepared you for these?
A: Our current focus is on enhancing our business model and integrating AI into our processes. Regarding the impact of Plug and Play on these milestones, I wouldn’t say it played a significant role. Our progress in these areas has been largely independent of the accelerator experience.
Founder’s Advice
Q: Lastly, do you have any advice for startups considering applying to Plug and Play or similar accelerators?
A: For startups just beginning their journey, Plug and Play can be a great starting point. It offers a good approach, especially for those seeking inspiration or an entry into the VC world. However, for more established companies or scale-ups that have a clear understanding of their industry and direction, I would advise focusing more on their current operations rather than relying heavily on an accelerator program.