How to get into Startupbootcamp according to the founders that did it

Here’s what founders had to say about why they applied…

1. Startupbootcamp highlighted the value of networking, education, and sales channels, noting its specific industry connections and alignment with startups’ strategic goals.
2. The accelerator emphasized the need for education and integration into the startup community to manage a growing product-based company effectively.
3. Startupbootcamp’s slogan “AHEAD” symbolized persistence and progress, and founders were inspired by its emphasis on innovation, and its strong global startup community ties.
4. Founders benefited from Startupbootcamp’s focus on refining strategy through intense pitching, networking, fundraising, and product development.
5. Startupbootcamp’s personalized mentoring, tailored coaching, and engagement with each startup’s unique challenges and successes were also particular draws.
6. The accelerator fostered an environment conducive to building startups and understanding the nuances of startup management from the ground up.

Here’s what founders had to say about Startupbootcamp’s application process…

1. The Startupbootcamp application process is straightforward.
2. The process started with an online application, followed by a first interview, and then to a more intensive second round of interviews, potentially resulting in selection for the final cohort.
3. From the 600+ startups that apply, the 100 proceed to the first interview and then around 10 are selected by Startupbootcamp’s senior leadership to join each cohort.
4. During the interviews, Startupbootcamp checked if the company was VC-backable. Did it have the potential to address a large enough market that a VC down the track is going to invest in it? Did the team have a passion? What was their motivation?
5. The process included some psychometric testing to check team resilience and motivation as well.
6. The accelerator focused on understanding both the startup’s core and the individuals behind it. 
7. The application included initial negotiation over equity, which was an interesting aspect of the experience.

Here are founders’ tips on the Startupbootcamp application process…

1. Show your product has traction. One successful founder had a challenging-to-develop product and the added advantage of already holding a license from a prestigious client. 
2. If you don’t have traction, it’s absolutely worth applying anyway. For another founder, it wasn’t so much about their current traction but more about their vision and potential impact on industry players. 
3. Tackle a significant problem. It’s a major key to VC backing down the road.
4. Put your team and your vision at the forefront. Successful applicants showed genuine enthusiasm for their product and had strong teams.
5. You’ll need to have a strong business concept, an effective pitch, and a compelling pitch deck.
6. Even if you don’t align with the specific criteria of the program, demonstrate your business model fits within the broader theme of the program.

Here’s what the founders had to say about the Startupbootcamp program…

1. The program lasted 3 months and was online or in-person depending on the program.
2. Sessions began with an initial session to fill out a business model canvas upon acceptance, laying the foundational framework for the program.
3. Sessions were conducted primarily online, featuring interactive and video-based educational sessions covering business models, pitch decks, and fundamental business areas.
4. The program included personalized mentorship, offering flexibility in mentor selection to align with specific startup goals and challenges.
5. Accelerator work required occasional physical presence for intensive learning periods, focusing on real-world applications, market validation, and navigating industry challenges. 
6. The program culminated in a unique Demo Day, more of a graduation event than a funding opportunity, where participants present pitches to an audience, showcasing their projects and visions.

Here’s what founders had to say about Startupbootcamp’s funding support…

1. Startupbootcamp offered fixed funding for a specific equity percentage, allowing negotiation to align with a startup’s previous funding terms.
2. The amount invested usually related to a budget set by their operations, with limited additional cash offerings.
3. The accelerator provided around €15,000-€40,000, depending on the program, for an average 8% equity stake.
4. Some founders raised further funding after completing the program, including stories of raising an additional $100,000 and securing funding from the UK government.
5. The accelerator also included benefits besides cash, such as non-cash support like AWS, Microsoft Azure, Google Cloud, and Stripe credits, and engagement with angel investors and venture capitalists during the program.

Here’s what the founders had to say about their achievements during the Startupbootcamp program…

1. One founder initiated conversations with a lead investor, achieving a significant milestone with support from the program in navigating legal aspects and understanding term sheets.
2. Another refined the team’s pitch and narrative notably, leveraging opportunities provided by the program to present their product to diverse audiences.
3. Other founders engaged actively with different industry partners, including major energy providers, as a key aspect of the journey.
4. Another gained clarity about the team’s cohesion and capability, capitalizing on resources and connections from the program.
5. One of the founders built a substantial customer pipeline with real sales opportunities, signifying a major milestone.
6. Yet another developed a go-to-market strategy with mentorship, enhancing pitching skills and building confidence, especially for camera presentations.
7. And one also realized the need to adjust the business model through insightful conversations with mentors and program managers, refining the market presentation and revenue generation approach.

Here’s what the founders had to say about their challenges during the Startupbootcamp program…

1. One founder received and accepted criticism, both positive and negative, as a significant part of the journey. They learned to navigate the subjective nature of feedback and opinions with a leadership mindset.
2. Another faced challenges in maintaining consistent intensity and focus in Startupbootcamp, juggling multiple responsibilities and striving to remain motivated.
3. A third founder dealt with personal challenges, such as a sick family member, finding the intense program both stressful and rewarding, as it offered focus during a tough time.
4. Yet another found financial modeling a major challenge, frequently creating complex models for investors. The task was daunting due to the founder’s dislike for numbers, but they overcame the challenge thanks to mentor encouragement.

Here are the founders’ final tips about joining Startupbootcamp’s program…

1. Assess carefully whether the corporate partners involved in the program align closely with your Ideal Customer Profile (ICP). 
2. Clearly define what you want to achieve from the program and focus on that aspect. Anything else is just noise. 
3. Use the program as a platform to achieve that validation. Keep an open mind, stay informed, and use the program to assess if what you’re doing aligns with the right direction.
4. Look at the different industry-focused programs that Startupbootcamp offers. Assess where there might be connection points or areas of mutual interest with these industries. Don’t hesitate to apply, even if your startup doesn’t exactly fit the conventional profile for a particular program.
5. Solve a real problem–it’s crucial. It’s important to identify something that could be improved and then address it, rather than just conceptualizing an idea in isolation. 
6. Apply! Use the constant flow of positive and negative feedback from founders and industry professionals to strengthen your startup, and gain access to invaluable networking opportunities.

Final tip from Trevor Townsend CEO of Startupbootcamp Australia

“Our advice is that if you’re looking for a program, do your research, do your due diligence on the people running the program. My business partner puts this in a very good way. He says, coming to our program is like going to Harvard versus your local university. We have really top-notch people around it. It’s the connections and people that are going to make the difference between whether or not you’re going to get value out of the program.”