Five teams spent the last three months learning from thousands of prospective customers using the lean startup process. SFid believes that better understanding of customers drives the creation of better products and better companies.
Our implementation of the Lean Startup curriculum gets you to MVP by thorough execution of Customer Discovery for effective MVP development and genuine Customer Validation. It's open source, but like exercise and diets, better with a trainer.
We focus, from the start, on teaching proper customer discovery, akin to sales training and the kinds of metrics that investors are most interested; Finance & Sales training, then, go hand-in glove toward developing meaningful metrics. The kind investors like.
Entrepreneurship is leadership & personal development is essential. Do you know what motivates you? Do you know what scares you? Are you self aware of how do you deal with deeply rooted challenges? They will affect your organization. We'll help you if you're willing.
Mentors are the backbone of this process. There are various levels of commitment, so even if you don't think you can afford the time there's probably an opportunity for you to contribute.Sign up to learn more.
We are New Mexico's first curriculum-based, investor-funded and ROI focused Accelerator program. We focus on accelerating high-growth, scalable companies, led by dynamic entrepreneurs that understand how to lead, while accepting coaching. We provide exceptional resources and mentorship and dedicate ourselves to making better leaders, who create better companies.
This is an enormous undertaking, requiring the commitment of numerous volunteers and many supporting organizations.
To learn more about our process check out the Frequently Asked Questions, below.
We're firm believers in "team" - humans make things happen with technology, not the other way around. All problems are human problems, so you should work with humans you can resolve problems with, period. Our team is outstanding, with excellent experience.
Serial entrepreneur in bioscience industries, newly appointed Executive Director of ABQid.
Serial entrepreneur, co-founding and managing partner at Verge Fund.
Serial entrepreneur, CEO of IonLinac, maker of the world's best ion linear accelerators.
Serial entrepreneur & EIR at Verge Fund, CEO of Slipstream
Serial entrepreneur & investor and member of many civic efforts in SF.
Partner with Epic Ventures, founder of BabyPage.
Serial entrepreneur, founder and CEO of LotusLeaf Coatings.
Director of SFid, Board Member ABQid.
Community and Development Efforts
Consultant, Slide 12
Management of our most valuable resource
It's not about protecting your idea or mistrusting people, it's about surviving and getting funded.
In order to do customer discover right you have to get out of the building.
Focused effort, scaled with knowledgable mentors and ready capital give founders their best chance at succeeding.
Events associated with the 2016 SFid Accelerator.
You may have a lot of questions, which we're happy to answer. We'll start with some of the basic ones, here, but email us if you have more.
Who are you?
We're a group of serial entrepreneurs and long-time members of the New Mexico entrepreneurial community that want to see great things happen in our state. We think supporting our entrepreneurs is the way to do that. We're partnered with the City of Santa Fe, the Santa Fe Community Foundation, Startup Santa Fe, the Santa Fe Business Incubator, Creative Santa Fe, the Regional Development Corporation and many other community members in order to ensure the success of participants in the program.
What is an "Accelerator"
We're a 12-week program that focuses on getting startup founders from a very nascent "idea" stage to investor ready by the conclusion of the program. The curriculum is heavily mentored and focuses on the Lean Startup's theory of customer development. It begins with customer discovery - meaning amassing evidence that supports your idea before you begin to present a "minimum viable product" to a prospective customer during your customer d There are numerous versions of this kind of program that have popped up, with some famous ones being Y-Combinator, 500 Startups and TechStars. We're affiliated with the Global Accelerator Network, GAN that had its origins with TechStars.
Where do I apply?
Applications are closed for the 2016 SFid Accelerator Program that will run January - April, however we will host public workshops and events that you are welcome to attend. Please check out the Startup Santa Fe site for SFid events and activities. The 2016 ABQid Summer Program will begin accepting applications in February, please check the www.ABQid.com site for the announcement.
What are your terms?
We offer a $20,000 seed investment, in exchange for a 6% equity stake in your company. If a company has received outside investment from an independent qualified investor, we will evaluate those terms as an alternative. Graduates of the program are considered for follow-on investment based upon completion of the program, significant progress and customer validation. The standard post program terms consist of a convertible note with a $2 million cap, a 20% discount and 6% interest rate. Our funding range for follow-on investments is $50K-$200K. More details are available from the SFid/ABQid Team.
Why is my company only worth $333,333 to you?
It's not. It's worth what the market thinks it's worth. If you have an independent, outside investor that says it's worth X (either by investment or term sheet), then it's worth X. We'll consider your outside investor's terms. Our terms are fairly standard for accelerators around the planet. If you are only considering the money, you are obviating the value of the curriculum, the mentorship, the accountability and the network provided by the program. Those are worth considerably more than zero dollars. The investment by the community of Santa Fe in providing the program and the resources to be aggregated around your company are substantial. The results are, too. Like five times more. The average valuation of a company that completes a GAN accelerator program and gets follow-on funding is around $1.7 million, after a three month program.
The Global Accelerator Network is a world-wide network of affiliated accelerator programs that share best-practices, resources, investors and provide a community around accelerator programs, aimed at serving startup founders. ABQid/SFid is a member.
How intense is this process?
It's pretty intense. Teams drop out, relationships get strained and people get tested. However, those things only happen to the extent that they happen faster than they otherwise would. It's called an accelerator for good reason. This 12-week process may be a seminal one in your life, it's not trivial and should not be attempted half-heartedly. But great things result from great effort and, for those who put in the effort we will do our best to achieve a great outcome, together. We can't overstate the amount of effort this takes - it's a lot.
What do I need to do to prepare for this process?
There are several things we recommend to do in advance of Orientation Week. The curriculum is intensely focused on the Lean Startup methodology; we suggest you familiarize yourself (if not actually get a jump-start) on the process. Here are a few of our favorite things:
Steve Blank's Lean Launchpad Course on Udacity
Alex Osterwalder’s: Business Model Generation (source of the Business Model Canvas).
Steve Blank's: Four Steps to the Epiphany
What else ya got?
Being affiliated with the Global Accelerator Network provides us with enormous resources to offer teams selected to participate in the SFid Accelerator this January. Check out some of the premium perks:
$120,000 Credit, Softlayer
$120,000, 12 Months Free from Sendgrid
$2,400, 6 Months Free Mailchimp
$3,000, 50% Off TriNet Expense
$20,000, in Free Processing Stripe Value ~$600
Reach out. Drop us a line. Ask questions.