Are you ready for this? Accelerators are of no use to you if you’re not ready to commit more than full-time, be receptive and open to feedback, and are ready to quickly incorporate what you learn.
Name of Accelerator: gener8tor
Location: Milwaukee, WI and Madison, WI
(Interview with Abby Taubner, Program Manager)
Read about other accelerators in the Startup Accelerator Spotlight.
In two sentences or less, tell us about your accelerator and its objectives.
gener8tor is a nationally ranked accelerator that invests in high-growth startups. Twice a year we invest up to $140K in each of five startups who receive a concierge experience during our 12-week program.
Why is your accelerator program unique? Please describe the benefits of participation in your program.
We are a concierge startup accelerator – only investing in five companies per program. We take a hands-on, one-on-one approach to helping each company in a unique way through our network of experienced mentors, technologists, corporate partners, angel investors and venture capitalists.
What is the most difficult part of working with startups?
Knowing that despite their (and our) best efforts to succeed, statistics and odds say that many startups will still fail. We like our numbers so far though! Four years in we have 42 portfolio companies, four have exited and only three are out of business.
What do you enjoy the most; what do you find most appealing about working with entrepreneurial startups?
We love the energy entrepreneurs bring in with them every day. It’s amazing being surrounded by such intelligent and driven people. We feel incredibly lucky to be a small part of these companies’ early chapters, and are so proud as we watch them grow, hire, load in more IKEA furniture, and become thought leaders in their categories.
Tell us about your success stories; Which are the most interesting companies to have participated in your program?
Our very first investment, EatStreet, is an online food ordering platform. They are in 17,000 restaurants across the country, employ over 100 people and have raised $ 30 Million in venture capital to date.
Replenish (formerly LivBlends) has created the “Keurig machine for smoothies”. Frozen pods come pre-packaged with fruits, vegetables, seeds and nuts for a single-serve, ready to drink smoothie out of their patented blender. Replenish is currently installing these machines in offices across San Francisco. To date, 45% of our alumni have raised more than $1M or have been acquired, and 79% of our alumni have raised more than $250,000.
What are the three most important factors startup entrepreneurs should consider when contemplating attending an accelerator?
- What do alumni think?
No one knows the program better than entrepreneurs that have gone through it. Ask alumni whether they would recommend it, and make sure the messaging the accelerator has been using is in line with people’s experiences during the program.
- What will the program provide you with, and is that what you need in order to succeed?
There are tons of different styles, approaches, curriculum, levels of involvement, willingness to make introductions and perks that accelerators offer. Make sure the one you’re going after provides you what you need.
- Are you ready for this?
Accelerators are of no use to you if you’re not ready to commit more than full-time, be receptive and open to feedback, and are ready to quickly incorporate what you learn.
What else would you like to share?
We currently have an application open for our next batch! Please apply at gener8tor.com/apply. If you’d like to learn more, we’d love to meet you! Sign up for our office hours at gener8tor.com/office-hours .
In search of an accelerator that aligns with your startup’s needs? Try TurboFunder’s Find My Accelerator search tool!