How to get into Startup Wise Guys according to the founders who pulled it off

Here’s what the founders had to say about why they applied…

1. Startup Wise Guys’ global network could help them transition from a local to a global company.
2. The program focuses on B2B SaaS, which ensures relevant, targeted support for companies within that realm
3. Startup Wise Guys’ comprehensive support and mentorship would help them advance quickly from concept to execution.
4. The accelerator actively seeks out ventures in their geography.
5. Startup Wise Guys priortizes a people-first approach, which sets it apart from other accelerators.

Here’s what the founders had to say about the structure of Startup Wise Guys’ application process…

1. Initially, founders filled out a form with numerous questions online.
2. The crucial part was the interview phase, where calls involved pitching and Q&As.
3. There are two rounds of interviews, where founders first pitch their idea to a group and face questions. If successful, the founder moves on to multiple meetings with heads of various departments.
4. Founders with existing traction in the market can bypass some initial stages.
5. Founders only had to pitch once during the final selection round, which puts founders directly in front of Startup Wise Guys’ investor community.

Here are some tips from the founders on how to ace Startup Wise Guys’ application process…

1. Be transparent — you’ll be most successful if you present your vision, numbers, and learnings with honesty.
2. Realize it’s a very selective and competitive process. About 20-30 of the applicants made it to the final pitch, and from these, only 8 to 10 were chosen for the program.
3. Be prepared to answer challenging questions like why you want to join an accelerator and why Startup Wise Guys.
4. You can stand out by showcasing traction and vision for global expansion.
5. Be true to yourself. The accelerator has more than enough experience to recognize potential and quickly understand what you bring to the table.

Here’s what founders had to say about the structure of Startup Wise Guys’ program…

1. Pitching happens often, which can be a lot of pressure.
2. The accelerator’s workshops covered key areas such as sales, marketing, and product development, pushing founders into a learning phase to re-evaluate their processes.
3. During the week, founders engage with mentors, typically one or two per day, covering crucial aspects of business that new founders might overlook.
4. The commitment required is substantial, but so are the rewards in terms of value gained.
5. The mentors, numbering from 20 to 30, were also remarkably hands-on and supportive.
6. Mentoring sessions equipped founders with a fresh perspective and a more holistic approach to scaling.
7. The schedule wasn’t overly hectic, but a good portion of the week—about two days—was dedicated to accelerator activities.
8. Throughout, mentors helped founders perform a 360 analysis of every aspect of their business, involving challenges and analyses of sales, marketing, fundraising, and product development.

Here’s what the founders had to say about Startup Wise Guys’ funding support…

1. The amount received varies, typically ranging from $60,000 to $120,000, with the specific figure negotiated based on discussions with them and alignment on the term sheet along with an equity exchange.
2. Startup Wise Guys engages and supports fundraising efforts post-initial investment. 
3. One founder received 55,000 euros, structured as a convertible note with a specified valuation cap. Out of the total amount, 25,000 euros were allocated for the program fees.
4. Funding rounds followed up with another investment later on in the program with an additional 150,000 euros, totalling over 200,000 euros in investment from Startup Wise Guys.

Here’s what founders had to say about the program’s challenges…

1. One founder found it extremely challenging to juggle family responsibilities, extensive travel, and the accelerator’s online portion along with managing and growing their company. 
2. Balancing participation in the accelerator while managing the startup team was quite stressful. But one founder effectively navigated by effectively presenting their market strategy to the cohort and the Startup Wise Guys team.
3. Another startup faced a challenge with pivoting to a new model, but Startup Wise Guys guided them through tackling the challenge.
   
4. One startup transitioned from a local to global market and found the accelerator’s help incredibly useful when transitioning mindsets.
5. Juggling the accelerator’s demands alongside the business’s day-to-day operations sometimes proved incredibly intense.

Here’s what founders had to say about Startup Wise Guys’ stand-out features… 

1. The accelerator was instrumental in providing introductions and mentorship, particularly within specific geographic focuses.
2. The program offered sessions that enhanced founders’ understanding of effectively communicating their business’s value to potential investors.
3. One of the standout aspects of the program was the pitching sessions led by Gleb Malsev – his expertise in pitching was unmatched, and he provided founders with top-notch coaching.
4. The accelerator set milestones for the elements needed to attract an investor, including the pitch deck, value proposition, product-market fit, go-to-market strategy, ideal customer profile, and market sizing.
5. To many founders, the unwavering support from everyone involved—the managers, mentors, and the wider international network—was incredibly valuable.
6. Founders were constantly challenged to reassess their opportunities and understanding of the market, resulting in a stronger market proposition, which, coupled with the credibility of having completed the Startup Wise Guys program, led to successful funding rounds with new investors.
7. Mentors helped some founders realize a pivot was necessary as initial approaches were not scalable or viable to be venture capital-backed. 

Here are the founders’ final tips on Startup Wise Guys’ program…

1. Understand that an accelerator won’t solve all your problems; you must build a sustainable business model – the responsibility lies with you, not the mentors or the accelerator team. The program is efficient and well-structured, so if you put in the work, you’ll find it worth your time.
2. Have a well-defined vision of how you’ll generate revenue from your idea, even if you don’t have a fully established product. Startup Wise Guys caters to early-stage startups, but they look for potential participants who understand their motivations for joining the accelerator.
3. Be ready for change and embrace the possibility that everything you think about your product could be questioned, leading you to a completely different perspective.
4. Commit to learning, improving and growing. The financial aspect is important, but growth is too. 
5. Share any challenges or doubts about your company from the start—transparency is key.