I was truly touched by all the support I received in the article’s comments section and on twitter. So much so, I thought I’d post an update so people would know what happened.
Dude, Where’s Your Technical Co-Founder?
Flash backward to Thursday, December 13, 2012, 11:30am CST. I’ve just finished my 6 minute presentation to 10 members of the gener8tor decision committee, and the Q&A begins. Keep in mind, during my first presentation I proactively acknowledged my need for a team member who can write software. And despite this need, I’ve developed a great minimum viable product working with an awesome design and development agency in New York, which is project managing developers in the Ukraine. And I am one last, minor bug fix away from launching my beta.
Back to the Q&A.
For the next 25 minutes, which felt like an hour, I was hammered about not having a CTO (Chief Technology Officer) and how this adds risk and concern to my biz model. I mean, I knew those guys were concerned about this deficiency, but geez! I clearly had no idea about the extent of their concern. And I thought with their connections they could help me find a proper solution. After all, it’s not like I have to start building a website and application from scratch.
I looked every person on the committee in the eye, held my breath, and asked them the following question, “does not having a co-founder who can write software prevent me from entering the accelerator boot camp?” Everyone of them said, “no.” They said, “we invest in people and we believe you can execute.” They also said, “you’re doing a great job selling yourself and your project.”
So far, so good.
Some of the guys in the room shared my perspective that they could help me find a tech co-founder. BUT some of them viewed the co-founder deficiency as a concern they needed to discuss. Translation: I was on the bubble. And I learned, unlike in earlier boot camps where they selected up to 7 of the 10 final presenting start-ups, this time they were only going to select 5. Gulp!
I left that meeting dazed and confused about what just happened. As I was getting in the elevator, one of the committee members stopped me and said, “don’t sweat it.” To which I replied, “dude, I AM sweating it.” He was one of the people who thought the accelerator could help me find a tech co-founder.
So, Am I In, Or Am I Out Of The Accelerator?
I walked into the wine section of the grocery store to grab a lil’ cheese and a few bottles of wine to consume with my friends before we watched The Dark Knight Rises that evening: Best. Batman. Movie. Ever. There, I said it.
I went over to the Vouvray section to buy an acceptable alternative and glanced at the 2010 Michel Picard Vouvray, which pales in comparison to the 2009 vintage. Then I looked a little closer, and I’ll give you one guess what I saw…A bottle of 2009!!! I looked even closer and found another bottle of 2009!!!
Two bottles of my favorite, hard-to-find wine? How lucky was that?!
Little did I know, this was a harbinger of sorts.
After leaving the store super-excited I found my favorite wine, and getting in the car, my cell phone rang. I picked it up and…it was two of the gener8tor founders congratulating me on being accepted into their winter boot camp!!!
I was so excited and thankful, I forgot to pick up my dog from daycare!
As a participant in the winter boot camp, my start-up will receive a small amount of seed capital in exchange for a reasonable amount of equity. But the most important things I will receive are access to the gener8tor network and resources, their start-up know-how, and the credibility to approach serious investors.
God is good.