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Goodbye v0.2

StartUp42 v0.2

This post was originally published on StartUp42 blog on February 6 2014.

Last Monday the second season of StartUp42 ended with our Prototype Fiesta. As our startups are now moving towards their future on their own, I wanted to take some time to reflect on how we helped them during the last 4 months.

What we did great

  •  Having a Program Manager on-site (initially Kevin, then Aline), every day, to coordinate interactions between the startups and mentors, partners and myself. Moreover, as both Kevin and Aline were business school graduates, they were able to help (with different skills) some of our startups on the marketing side of things. Remember, 70% of our founders have a technical background.
  • We managed to really boost some startups on the marketing and communication side. For example Worldcraze was virtually unknown before StartUp42. With the substantial press coverage they got during the past weeks, they have transformed into a known brand with copycats even popping up.
  • More than 60 mentors came during the 4 months to share their knowledge and experience with the startups, 50% of them being entrepreneurs.
  • We joined the Global Accelerator Network which gives us a stronger bridge with the Techstars network as well as relationship with other accelerators globally.
  • We attracted more than 100 investors, media and corporate partners for our Prototype Fiesta, which really demonstrates the seriousness of our program.

On the lessons learned side, while our Program Manager was able to help the startups from time to time, their action was unfocused and not optimum towards all our startups, due to their other program management activities. While I was very wary about Entrepreneurs In Residence, this situation made me change my mind. We will announce very soon a new EIR for our v0.3.

I am very proud of how our startups performed during the Prototype Fiesta. Most of them were really transformed by the accelerator experience and I wish them great success in their entrepreneurial life.

If you also want to be part of such adventure, applications for our v0.3 session are now open until March 3rd.