my name is jay s corn Hawaii I’m a partner and co-founder of real ventures
partner and co-founder of real ventures
partner and co-founder of real ventures also founder fuel which is a accelerator
also founder fuel which is a accelerator
also founder fuel which is a accelerator hi I’m John Stokes partner at real
hi I’m John Stokes partner at real
hi I’m John Stokes partner at real ventures and a mentor at founder fuel
an accelerated program as opposed to an
an accelerated program as opposed to an incubator is a short time you know most
incubator is a short time you know most
incubator is a short time you know most are about three months and all the
are about three months and all the
are about three months and all the entrepreneurs come in in the first week
entrepreneurs come in in the first week
entrepreneurs come in in the first week define where there are whether business
define where there are whether business
define where there are whether business is at and the plan is to accelerate that
is at and the plan is to accelerate that
is at and the plan is to accelerate that business over the course of the program
business over the course of the program
business over the course of the program so for a three-month program you know
so for a three-month program you know
so for a three-month program you know you’re expecting the business to get at
you’re expecting the business to get at
you’re expecting the business to get at least nine to twelve months worth of
least nine to twelve months worth of
least nine to twelve months worth of progress in that short three-month
progress in that short three-month
progress in that short three-month period that environment is also one
period that environment is also one
period that environment is also one which is ripe and rich with mentors
which is ripe and rich with mentors
which is ripe and rich with mentors master classes people that have
master classes people that have
master classes people that have experienced stuff been there and done it
experienced stuff been there and done it
experienced stuff been there and done it that are constantly giving input to
that are constantly giving input to
that are constantly giving input to these people so that these teams have
these people so that these teams have
these people so that these teams have the ability to to pick and choose what
the ability to to pick and choose what
the ability to to pick and choose what it is that they think is most important
it is that they think is most important
it is that they think is most important to the development and the acceleration
to the development and the acceleration
to the development and the acceleration of their business then at the end of the
of their business then at the end of the
of their business then at the end of the program the entrepreneurs go up on stage
program the entrepreneurs go up on stage
program the entrepreneurs go up on stage usually it’s around eight minutes and
usually it’s around eight minutes and
usually it’s around eight minutes and pitch their business to a room full of
pitch their business to a room full of
pitch their business to a room full of investor with a goal at the end to
investor with a goal at the end to
investor with a goal at the end to following the the event to raise their
following the the event to raise their
following the the event to raise their first round of funding and the end of
first round of funding and the end of
first round of funding and the end of the program all of them are in a better
the program all of them are in a better
the program all of them are in a better position than they were but probably
position than they were but probably
position than they were but probably most importantly in the reason we talk
most importantly in the reason we talk
most importantly in the reason we talk about acceleration is that maybe one or
about acceleration is that maybe one or
about acceleration is that maybe one or two of them will have accelerated away
two of them will have accelerated away
two of them will have accelerated away from the rest and those are the ones
from the rest and those are the ones
from the rest and those are the ones that really do stand out as potentially
that really do stand out as potentially
that really do stand out as potentially the great entrepreneurs of the future
the great entrepreneurs of the future
the great entrepreneurs of the future you look at a company called Airbnb you
you look at a company called Airbnb you
you look at a company called Airbnb you know went from nothing to 1 billion
know went from nothing to 1 billion
know went from nothing to 1 billion dollar in valuation in 18 months after
dollar in valuation in 18 months after
dollar in valuation in 18 months after coming out of the Y Combinator program a
coming out of the Y Combinator program a
coming out of the Y Combinator program a company like Dropbox which didn’t even
company like Dropbox which didn’t even
company like Dropbox which didn’t even exist before getting into the program
exist before getting into the program
exist before getting into the program again went from zero to four billion
again went from zero to four billion
again went from zero to four billion dollars in valuation and hundreds of
dollars in valuation and hundreds of
dollars in valuation and hundreds of millions of dollars in revenue two years
millions of dollars in revenue two years
millions of dollars in revenue two years after the white Combinator program here
after the white Combinator program here
after the white Combinator program here in founder fuel our first program was in
in founder fuel our first program was in
in founder fuel our first program was in the fall so we don’t have these these
the fall so we don’t have these these
the fall so we don’t have these these great successes yet but you lay your
great successes yet but you lay your
great successes yet but you lay your eyes which you know didn’t exist before
eyes which you know didn’t exist before
eyes which you know didn’t exist before they came into the program surging
they came into the program surging
they came into the program surging revenue in the program have raised over
revenue in the program have raised over
revenue in the program have raised over 1.5 million since the program and are
1.5 million since the program and are
1.5 million since the program and are already profitable doing really well
already profitable doing really well
already profitable doing really well another team called la la which is in
another team called la la which is in
another team called la la which is in the student engagement mobile space so
the student engagement mobile space so
the student engagement mobile space so providing mobile apps for students and
providing mobile apps for students and
providing mobile apps for students and where the apps for students unions that
where the apps for students unions that
where the apps for students unions that want to contact those those students has
want to contact those those students has
want to contact those those students has also been making amazing progress came
also been making amazing progress came
also been making amazing progress came in with I think 14 universities I think
in with I think 14 universities I think
in with I think 14 universities I think they’ll have something like 250 students
they’ll have something like 250 students
they’ll have something like 250 students unions they have also managed to raise
unions they have also managed to raise
unions they have also managed to raise 750 thousand dollars coming out of the
750 thousand dollars coming out of the
750 thousand dollars coming out of the program I meet a lot of intrapreneurs on
program I meet a lot of intrapreneurs on
program I meet a lot of intrapreneurs on a daily basis that are not part of our
a daily basis that are not part of our
a daily basis that are not part of our accelerator program but when they meet
accelerator program but when they meet
accelerator program but when they meet with me I make one introduction to
with me I make one introduction to
with me I make one introduction to introduction when you get involved in an
introduction when you get involved in an
introduction when you get involved in an accelerator you get to meet hundreds of
accelerator you get to meet hundreds of
accelerator you get to meet hundreds of people very very very quickly and then
people very very very quickly and then
people very very very quickly and then these hundreds of people become
these hundreds of people become
these hundreds of people become connectors for you and then can open
connectors for you and then can open
connectors for you and then can open their networks to you so in a very short
their networks to you so in a very short
their networks to you so in a very short time period you get to meet a lot of
time period you get to meet a lot of
time period you get to meet a lot of people you also get a lot of feedback
people you also get a lot of feedback
people you also get a lot of feedback now that can be good or bad you need to
now that can be good or bad you need to
now that can be good or bad you need to be very careful to know who you’re
be very careful to know who you’re
be very careful to know who you’re listening to and why they’re giving you
listening to and why they’re giving you
listening to and why they’re giving you certain type of advice and you but and
certain type of advice and you but and
certain type of advice and you but and really use everything you’re hearing to
really use everything you’re hearing to
really use everything you’re hearing to make your own decision to make your own
make your own decision to make your own
make your own decision to make your own plan if you then look at it from the
plan if you then look at it from the
plan if you then look at it from the community that surrounds the accelerator
community that surrounds the accelerator
community that surrounds the accelerator program it’s a way of drawing attention
program it’s a way of drawing attention
program it’s a way of drawing attention to that community to wear a way of
to that community to wear a way of
to that community to wear a way of focusing that community and showcasing
focusing that community and showcasing
focusing that community and showcasing that to that community how good you
that to that community how good you
that to that community how good you might have to be if you yourself wanted
might have to be if you yourself wanted
might have to be if you yourself wanted to become an entrepreneur and and make
to become an entrepreneur and and make
to become an entrepreneur and and make the sort of progress that’s expected of
the sort of progress that’s expected of
the sort of progress that’s expected of these teams in my opinion every
these teams in my opinion every
these teams in my opinion every entrepreneur should try to go through an
entrepreneur should try to go through an
entrepreneur should try to go through an accelerator it’s just tremendous value
accelerator it’s just tremendous value
accelerator it’s just tremendous value for what it costs you know you used to
for what it costs you know you used to
for what it costs you know you used to give an advisor at one percent of your
give an advisor at one percent of your
give an advisor at one percent of your company you go through an accelerator
company you go through an accelerator
company you go through an accelerator you get a bit of money you give six
you get a bit of money you give six
you get a bit of money you give six percent like in the case of founder few
percent like in the case of founder few
percent like in the case of founder few of your company common shares no strings
of your company common shares no strings
of your company common shares no strings attached you get to meet a hundred
attached you get to meet a hundred
attached you get to meet a hundred people that then connect you to hundreds
people that then connect you to hundreds
people that then connect you to hundreds more I mean it’s it’s a no-brainer
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