Lyubomir Hristev
Lyubomir Hristev@lubo · Customer Success Manager @ Gtmhub

Write a 1-page document explaining why the Founders Institute program sucks

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@lubo Would love to know about this. Are you planning on publishing it?
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@cleavatron, definitely! To be more precise: I'm going to constructively criticize the local FI chapter in Sofia, BG. Since I know how "competent" are the organizers (I know them personally, unfortunately), I think that this paper would be short but rather than meaningful. I'm writing it just so to let know a few friends what I think of the program; I don't usually spend time on such activities. I'm writing a Medium post on the exact same topic summarizing my entire experience in the past year and a half dealing with accelerators and incubators. A HUGE amount of incompetence and negligence I spotted and witnessed first-hand I at some time I got irritated. It's entitled "The Dangers of the Daggers" and will definitely be very strictly written, based on evidence, and professional insights. I'll keep you posted. Do you intend to apply for the FI program or have you finished it already? Do you have any experience with other programs as well? Let's start a private chat if you want. 😉
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@cleavatron @lubo apart YC/Techstars, I doubt incubators and accelerators are worth spending time on... I've been observing both for the last 20years and the conclusion is : They kind of almost all suck. At best you're loosing time, at worse you're dying and kill your startup. I've seen so many crappy startup with crappy founders and crappy "advisors". It's a fool market.
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@cleavatron, I'm ready. What will be the most convenient way to send you the draft?
@pierre_vannier, 100% agree with you! Based on my experience, it appears that it's kind of a "mission impossible" to find an appropriate accelerator program for our startup. Everybody is looking for foolish graduates to screw over! That's the truth in my opinion and believe me, I and my co-founder struggle with the issue of finding a professional accelerator for more than a year and a half. We've been accepted in a few programs but after receiving the documents we realized that the situation is indeed a desperate one and we, therefore, refused to take a part in. Now, Founder Institute, in my point of view, especially is the bottom one. I have a personal reason for considering so and I firmly stand behind my word. It's sad though that everybody says that 99% of the startups fail but nobody is ready to take responsibility for reasons that contribute to not achieving success.
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@lubo @pierre_vannier Yep. Sounds like familiar enough. I'd say around 90% of the accelerator programs in this region are more hype than substance. There are however some really good ones. Usually they're run by CVCs. So, the ones who gets in are primed for acquisitions down the road. They're really hard to get into in the first place and they don't take that many startups per cohort.
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