Around The Space-19.jpg

Top 5 Tips for Maximizing your Time in a Start-up Accelerator

1871, Food Foundry
Posted by: 1871 on 10/1/19 10:14 AM

From those who went through one. 

The Food Foundry is a Chicago-based accelerator program by Relish Works designed to support, connect, and propel innovative startups who are rethinking the food industry. Participants of Cohort 1 provided valuable advice for those looking to take the leap into an accelerator. 

GUEST AUTHOR: Mandy TahvonenManaging Director of Relish Works

Last year, Relish Works launched our accelerator program, The Food Foundry, built in partnership with Gordon Food Service and 1871. For three months, our team searched the globe to find the top startups who were disrupting the broader food industry. Suffice to say, we met a ton of great folks, all-star entrepreneurs and mentors, and learned a lot along the way. 

Are you an entrepreneur who’s considering joining an accelerator? Have you already been accepted into a program and are just counting down the days until you can hit the ground running? 

We talked to the folks who participated in our first Food Foundry cohort to gather their best pieces of advice that they would give to the next group of entrepreneurs entering or considering an accelerator program.

Here’s what they had to say:

Food Foundry Cohort 1 Demo Showcase

1.) Start by Finding the Right Fit 

With so many programs out there, how do you really know which accelerator is the best for you and your business?  

The answer comes in three parts. Find a program that fits a.) your lifestyle, b.) your business, and c.) the network you’re looking to be a part of. 

For example, can you take the time away from your business to be a part of an accelerator that meets 5 days a week, or do you need the flexibility of a program that only meets once per week, or once per month? Because our startups were coming from all over the country, The Food Foundry met one week each month for 16 weeks. 

“Stay in town on the weekends whenever possible. Plan time outside of the regular scheduled program to be in Chicago (or whatever city you’re in) for at least 1-2 weeks to explore the city, get to know folks and better engrain yourself in the industry as a whole.” 

Know that when the program ends, it’s not really over. So pick a network that you’re excited to be a part of and support for the long run.  

“There were folks that I met through the program that I still talk to every week. It’s a community for life and I love that I’m a part of it.” 

2.) Network, network, network 

Across the board, this was the #1 piece of advice from the cohort that they would give to future program participants. 

“Network all the time...The actual work started after 5:00pm.” 

One of the best parts of being in an accelerator program is opportunity you'll have to tap into the incredible community of experts, mentors, VC’s, industry thought leaders, and general community supporters who are dedicating their time and resources to make sure your business is successful. This also includes access to new customers that you may not have ever had the chance to meet had it not been for that one special connection. 

Treat everyone you meet like they’re about to hand you your future, but also remember that networking goes both ways.

“The informal conversations at external networking events, accelerator hosted events, general meet-and-greets, etc. were the highlight for me. I now have a large group of people that I can call upon for advice at any time, and who I will gladly return the favor if ever in need.” 

Help your fellow startups out and hopefully they’ll do the same for you. These relationships are lasting - even after demo day - so make ‘em count. 

3.) You Get Out What You Put In 

You have a business to build, and while some companies may think they’ve gotten there and are fine, there’s always room to check yourself, pivot, and/or perfect. 

“There are some amazing learnings that you’ll get to experience on topics that may be new to you (or that you think you knew, but really didn’t), such as how to maximize Google Analytics, KPI exercises, business modeling and the finance related programming. All of these workshops were valuable and forced us to re-look at our priorities.” 

You’re about to walk into a series of classes and programming where you’ll have the undivided attention of experts in the field coaching you every step of the way to help you grow your business and develop certain skills along the way. Show up on time, put your phone on silent for an hour or two, and make a point to be as present as possible. 

4.) Ask and Give Feedback 

Ask the facilitator for any specific help that you need for you and your business from the get-go. If there’s something distinct that you really want to get out of a certain track, such as specific questions about hiring processes or equity sharing, be vocal about this. 

Constructive criticism can also be immensely helpful for those facilitating the program. The feedback throughout our first cohort helped us to pivot and perfect the details in order to maximize the experience for participants. 

“Tell your facilitator what you want right at the beginning and don’t be afraid to share feedback along the way. If you want something, say something!” 

5.) Be a Little Selfish

You're about to go through an intense experience that requires your focus and dedication. This may mean that you won’t be as available as you would normally be for your friends, family and significant others. 

An Extraordinary Thank You!

Posted by: Adam Arcus on 9/20/19 3:05 PM

Thank you to our generous attendees and sponsors who helped us make this year’s Momentum Awards an evening to remember, and congratulations again to all of our nominees and awardees.

The 12th annual Momentum Awards on September 19th was an extraordinary celebration of Chicago’s tech and startup community. This year, more than 760 guests gathered at the Radisson Blu Chicago to honor our city’s best and brightest. Their contributions, alongside your continued support, enable us to continue our mission to inspire, equip, and support founders to build great businesses.

PRESS RELEASE: 1871 Announces 10 Companies Joining 10th WiSTEM Cohort

News, WiSTEM, 1871
Posted by: Adam Arcus on 9/16/19 4:10 PM

10 Women-Led Startups to Participate in 10th Cohort; 12-Week Curriculum-Based Course Has Now Graduated 120 Companies and Created 715 jobs.

PRESS RELEASE: Don Thompson to Receive Chicagoness Award at 12th Annual Momentum Awards

Posted by: Yun Tai on 9/10/19 11:01 AM

Don Thompson, Cleveland Avenue Founder, to be Honored at The 12th Annual Momentum Awards for Exemplifying the Spirit of the Chicago Founder Community

PRESS RELEASE: 1871 and The CEC Announce 14 New Appointments To Its Board of Directors

Posted by: Yun Tai on 9/5/19 1:48 PM

The CEC and 1871 is pleased to announce that it has added 14 new members to its Board of Directors. These new board members bring decades of industry and executive experience that will help support and grow Chicago's tech and founder community.

The Advantages of Hyper Local Food

Posted by: 1871 on 9/4/19 1:16 PM

There are many problems with the American diet. According to the AMA, almost 40% of Americans are considered obese. Although the reasons for that are numerous and complex, one way to begin to address the problem is with healthier eating habits. Growing produce at home makes people more likely to cook healthful meals, allows them to eat local food and if there are children at home, can help parents instill healthy habits. Exposing children to fresh produce at an early age also has a big impact. In this guest blog post, Hank Adams, Founder and CEO of Rise Gardens, takes a look at the advantages of hyper local food.

PRESS RELEASE: 1871 and The Chicago Entrepreneurial Center Name BMO Harris Bank as Corporate Champion at 12th Annual Momentum Awards

Posted by: Yun Tai on 8/28/19 2:14 PM

1871 and The Chicagoland Entrepreneurial Center to Recognize BMO Harris Bank as The 2019 Corporate Champion at the 12th Annual Momentum Awards.

PRESS RELEASE: Relish Works, Gordon Food Service, and 1871 Announce Second Cohort for the Food Foundry Accelerator Program

Posted by: Yun Tai on 8/27/19 9:00 AM

The Food Foundry Accelerator seeks startups innovating the food value chain -- second cohort to begin in January 2020. Applications for The Food Foundry Cohort 2 are open now through October 16th.

PRESS RELEASE: 1871 and The CEC Announce 9 Finalists for 12th Annual Momentum Awards

Posted by: Yun Tai on 8/19/19 2:49 PM

Nine Robust Tech Companies Nominated for 12th Annual Momentum Awards; Four Finalists Selected for the Category of Momentum Rising Star Award; Five Finalists Selected for the Category of Momentum Award; Winners to be Announced at the 12th Annual Momentum Awards on September 19th.

Traits Small Business Owners Should Look for When Hiring

Posted by: 1871 on 8/19/19 10:07 AM

Building the right team is the key to success for small business owners. However, that's not always as easy as it sounds. Finding the right people -- and the right qualities can be very difficult, but fortunately, Joseph Brady, Vice President of Digital Marketing for Reliant Funding, has some tips on how the traits that small business owners should look for when hiring. 

Read the 1871 Blog for news about the Chicago technology and entrepreneurship community, as well as helpful tips, guides, and insights into the startup and investment world.

Subscribe to Email Updates

Recent Posts

1871 On Instagram