Update from the Accelerator: We’re halfway there!
Time flies when you’re building things! We’re halfway through the first-ever VFA Accelerator here in Philly and our five teams have made some serious progress in building their nascent companies. Their spirits are high and their heads are down, as they hustle to make the most out of their last six weeks in Philly.
We bet you’re wondering what it’s really been like on the ground for our Fellow Founders in Philly, so here are some highlights so far:
- First Round Capital. Complete with ski-ball, a complicated coffee machine, and motivational posters (“Caffeinate Responsibly!”), the FRC office has proven the perfect spot for Fellows to get things done. They’re surrounded by an entrepreneurial energy, other startups, community members, and the FRC team itself… and have access to all of the office resources (um… whiteboards) they could ever need.
- Mentor Matching Days. In Week 2, our Fellow teams met with over a dozen experts from a range of industries in both Philadelphia and New York. It was a whirlwind, but at the end of the week, teams emerged with mentors and contacts from relevant industries (fashion and marketing and insurance… oh my!) to help them reach the next level.
- So. Many. Visits. From IDEO
and GLG, to David Tisch and the “Technically Philly” news experts, we’ve had no shortage of visitors around dropping knowledge on human-centered design, fundraising, and pitching news outlets. The VFA Fellow founders from Castle, Banza, and ZestTea also dropped by to share some wisdom on how to best navigate the world as a newly minted company leader. - Lots of bonding time. It’s mostly business around here… but our teams do find a way to have fun sometimes! Between our bi-weekly family dinners and BYOB dim sum extravaganzas, the teams make the most of downtime, unwinding together and reflecting on the ups and downs week after week.
- Philly Supporter Meet & Greet. Last week, local supporters, mentors, partner companies, and Fellows dropped by to show their support. Our Meet & Greet event was mostly fun… but of course we had our teams give their pitches to the crowd! (Practice makes perfect, you know?)
Company Updates: Onwards and Upwards
Compass: Mike Wilner and Taylor Sundali spent their first six Philly weeks expanding their sales efforts and refining their customer onboarding process. Sure, selling to small businesses isn’t easy… but the combination of relentless outreach (and Mike’s charming smile) have proven to be effective in their efforts.
LeagueSide: Zubin Teherani and Evan Brandoff have hit their stride finding youth sports leagues who need sponsors (40,000 players already!), closed a deal with FatHead, and have many other potentials to come. Sports-centric Philly has given them access to leagues and professionals… and of course, they’re trying to keep up their pickup basketball and racquetball hustle on the side.
Bearkat: After closing a wildly successful IndieGogo campaign, it’s been a whirlwind for Claire Kim and Kate Leisy. When they aren’t in meetings with designers, manufacturers, and fashion leaders, they’re working on getting more followers for their already-awesome Instagram. Oh, and did we mentioned they rebranded from “Pugs Boxers”? All in a day’s work around here.
Ash & Anvil: After claiming top prize in the Innovation Fund, Eric Huang and Steven Mazur have spent hour after hour learning about their customers and finding the right players to help them build their product. You can usually find them out and about in Philly and NYC meeting with potential designers, talking to manufacturers, and further defining their target market.
Sky Mutual: John Yarchoan and Matt Fulton have narrowed down their market and made significant strides in closing their first deal. When they aren’t making contacts in the reinsurance industry or learning about the municipal budgeting processes, you’ll find them working on a proprietary data tool for analyzing possible weather outcomes.
So what now? Over the next six weeks, the teams will continue to build, sell, learn, and grow as they prepare to step out into the post-VFA world. The big days will come in late May with our Launch Days in NYC, where members of the VFA community will come together to see the Fellows pitch their companies in an effort to get the funding they need to keep building.
Want to learn more or support our teams? Just reach out to our Accelerator Program Manager at adam@ventureforamerica.org.