There are over 7,500 incubators/accelerators in the world. Most fail. E ntrepreneurs are thoroughly confused on how to evaluate incubators and accelerators. Entrepreneurs are also thoroughly confused on why they get rejected by incubators and accelerators on the grounds of being too early.
Last year, we launched a program called the 1M/1M Incubator-in-a-Box. It has exposed us to a broad range of technology companies and their innovation goals, strategies, and processes. While most of what we have learned is confidential, I will synthesize some trends we're seeing in this domain.
When we think of successful business creation and development, we focus on the fundamental business model, value proposition, strategy, organization and alignment of resources, and focused and disciplined execution of that strategy.
The contest is focused on financial technology entrepreneurs, and TradeKing, an online brokerage, will be awarding 12 1M/1M scholarships, picked from 20 finalists, to entrepreneurs who are developing apps on their platform.
During today's roundtable, we turned the spotlight on Western Massachusetts, spanning the Northampton-Amherst area and the home of Smith College (my undergraduate alma mater), Amherst College, UMass, Mt. Holyoke and Hampshire College.
Tech innovators and web entrepreneurs are the new rock stars. Their stories are fueling a sub-culture of entrepreneurial-obsessed students that see start-ups as exciting alternatives to traditional employment.
As the founder of an Internet startup, I meet entrepreneurs and investors every day. I've met hundreds, yet over the past few years, I have met only a couple of entrepreneurs and investors who are black.