Comments on: What we did to (not) get into Techstars http://blog.aisleten.com/2009/04/06/what-we-did-to-not-get-into-techstars/ Late nights eventually pay off Sat, 13 Mar 2010 20:09:07 +0000 http://wordpress.org/?v=abc hourly 1 By: Midnight Oil » Blog Archive » Tweet Less, Blog More http://blog.aisleten.com/2009/04/06/what-we-did-to-not-get-into-techstars/#comment-2788 Midnight Oil » Blog Archive » Tweet Less, Blog More Wed, 10 Jun 2009 14:12:03 +0000 http://blog.aisleten.com/?p=459#comment-2788 [...] and zero comments, but I know they’re read by my close friends. However, I’ve had several blog posts that have generated a great deal of commentary. I provided some thoughtful analysis, and [...] [...] and zero comments, but I know they’re read by my close friends. However, I’ve had several blog posts that have generated a great deal of commentary. I provided some thoughtful analysis, and [...]

]]> By: Heather Duey http://blog.aisleten.com/2009/04/06/what-we-did-to-not-get-into-techstars/#comment-2729 Heather Duey Fri, 22 May 2009 13:40:15 +0000 http://blog.aisleten.com/?p=459#comment-2729 Micah, As a TS1 reject, all I can say is "Welcome to the family!" We did many of the things you did, and were rejected. However, I would like to say that David and Brad both remain very good resources for us. We have moved on past our first startup idea (www.Georneys.com) but we continue to keep in touch with both of them to gain input on ideas and get feedback. Just because you didn't make it into the top 10 (or 20 this year) does not mean they don't think you had a good idea, or that they are not willing to provide more information to you if they can. I am sure other Techstars mentors are the same - use them (appropriately) for all they are worth and you will all gain from the experience with any luck. You've got your foot in the door; it may not have produced investment at this point, but the advice is what Techstars is all about anyway, right? Micah,
As a TS1 reject, all I can say is “Welcome to the family!” We did many of the things you did, and were rejected. However, I would like to say that David and Brad both remain very good resources for us. We have moved on past our first startup idea (www.Georneys.com) but we continue to keep in touch with both of them to gain input on ideas and get feedback. Just because you didn’t make it into the top 10 (or 20 this year) does not mean they don’t think you had a good idea, or that they are not willing to provide more information to you if they can. I am sure other Techstars mentors are the same – use them (appropriately) for all they are worth and you will all gain from the experience with any luck. You’ve got your foot in the door; it may not have produced investment at this point, but the advice is what Techstars is all about anyway, right?

]]> By: Micah http://blog.aisleten.com/2009/04/06/what-we-did-to-not-get-into-techstars/#comment-2670 Micah Tue, 07 Apr 2009 12:39:53 +0000 http://blog.aisleten.com/?p=459#comment-2670 I just posted <a href="http://blog.aisleten.com/2009/04/07/what-we-did-to-not-get-into-techstars-part-2/" rel="nofollow">Part 2: The Analysis</a> Check it out and tell me what you think. I just posted Part 2: The Analysis

Check it out and tell me what you think.

]]> By: Micah http://blog.aisleten.com/2009/04/06/what-we-did-to-not-get-into-techstars/#comment-2667 Micah Tue, 07 Apr 2009 11:55:36 +0000 http://blog.aisleten.com/?p=459#comment-2667 @pwd Ok, I understand now. When I talk about artisan food producers, I'm referencing the kind of sellers that Foodzie and Foodoro have. Namely, small businesses that make specialty chocolates or muffins. I'm not talking about McDonalds or HyVee. The same goes for the nurseries. I'm referencing Mom and Pop operations that grow a couple hundred plants for sale, not massive agri-businesses. @pwd

Ok, I understand now. When I talk about artisan food producers, I’m referencing the kind of sellers that Foodzie and Foodoro have. Namely, small businesses that make specialty chocolates or muffins. I’m not talking about McDonalds or HyVee.

The same goes for the nurseries. I’m referencing Mom and Pop operations that grow a couple hundred plants for sale, not massive agri-businesses.

]]> By: pwb http://blog.aisleten.com/2009/04/06/what-we-did-to-not-get-into-techstars/#comment-2665 pwb Tue, 07 Apr 2009 04:58:30 +0000 http://blog.aisleten.com/?p=459#comment-2665 Grocery stores and restaurants alone are $1 trillion. The nursery industry is maybe $10 or $20 billion. Grocery stores and restaurants alone are $1 trillion. The nursery industry is maybe $10 or $20 billion.

]]> By: Micah http://blog.aisleten.com/2009/04/06/what-we-did-to-not-get-into-techstars/#comment-2664 Micah Mon, 06 Apr 2009 20:39:16 +0000 http://blog.aisleten.com/?p=459#comment-2664 @pwb That's a bold statement. The artisan food market is 10, 100, or 1000 times the size of the specialty nursery market? You have any numbers to back it up? I'll admit that I don't have much more to go on than my personal experience, but there are a lot of specialty nurseries dotting the landscape around the U.S. and a lot of people buying plants. Still, I'm not trying to fight a Food vs Plants battle. I'm confident that our market is there and we're on target to hit it. @pwb

That’s a bold statement. The artisan food market is 10, 100, or 1000 times the size of the specialty nursery market? You have any numbers to back it up? I’ll admit that I don’t have much more to go on than my personal experience, but there are a lot of specialty nurseries dotting the landscape around the U.S. and a lot of people buying plants.

Still, I’m not trying to fight a Food vs Plants battle. I’m confident that our market is there and we’re on target to hit it.

]]> By: pwb http://blog.aisleten.com/2009/04/06/what-we-did-to-not-get-into-techstars/#comment-2663 pwb Mon, 06 Apr 2009 20:29:49 +0000 http://blog.aisleten.com/?p=459#comment-2663 "Is the artisan food producer market really that much bigger than the specialty nursery business?" Yes. By at least an order of magnitude, if not 2 or 3 orders. I'm sure the primary concern anyone would have with DoLeaf is around how big it could be. Most of your energy should have been devoted to convincing people that it's a big category. It sounds like little energy was spent on that. “Is the artisan food producer market really that much bigger than the specialty nursery business?”

Yes. By at least an order of magnitude, if not 2 or 3 orders. I’m sure the primary concern anyone would have with DoLeaf is around how big it could be. Most of your energy should have been devoted to convincing people that it’s a big category. It sounds like little energy was spent on that.

]]> By: Charlie O'Keefe http://blog.aisleten.com/2009/04/06/what-we-did-to-not-get-into-techstars/#comment-2662 Charlie O'Keefe Mon, 06 Apr 2009 19:56:04 +0000 http://blog.aisleten.com/?p=459#comment-2662 Do you sell those plants mentioned recently in that TED talk about three simple plants you can get to improve the air quality in any building? I watched that and the first thing I thought was, "Cool! Wonder where I could get those!" Do you sell those plants mentioned recently in that TED talk about three simple plants you can get to improve the air quality in any building? I watched that and the first thing I thought was, “Cool! Wonder where I could get those!”

]]> By: David Cohen http://blog.aisleten.com/2009/04/06/what-we-did-to-not-get-into-techstars/#comment-2660 David Cohen Mon, 06 Apr 2009 18:44:25 +0000 http://blog.aisleten.com/?p=459#comment-2660 Micah - good to see you reflecting on this here. Just wanted to chime in and agree with some of your commenters that not getting into TechStars shouldn't affect your course. We try to explain that a large component of our selection process is subjective - it just boils down to what we want to work on and what we get excited about. That's why we call it non-selection as you point out. It's more than just semantics. We're far from omniscient - I'm sure fantastic companies will come out of those we don't select. We have to be fine with that as investors - nobody is going to guess right about the entire field of applicants and magically pick only the "best". Only time will tell, and I sincerely hope this is nothing more than motivation for you. You guys are smart and will do well. Just keep on rocking. Don't concern yourself with market size - just solve problems for your market. You will find ways to grow the business from there - I am sure. Micah – good to see you reflecting on this here. Just wanted to chime in and agree with some of your commenters that not getting into TechStars shouldn’t affect your course. We try to explain that a large component of our selection process is subjective – it just boils down to what we want to work on and what we get excited about. That’s why we call it non-selection as you point out. It’s more than just semantics. We’re far from omniscient – I’m sure fantastic companies will come out of those we don’t select. We have to be fine with that as investors – nobody is going to guess right about the entire field of applicants and magically pick only the “best”. Only time will tell, and I sincerely hope this is nothing more than motivation for you.

You guys are smart and will do well. Just keep on rocking. Don’t concern yourself with market size – just solve problems for your market. You will find ways to grow the business from there – I am sure.

]]> By: Shawn Broderick http://blog.aisleten.com/2009/04/06/what-we-did-to-not-get-into-techstars/#comment-2659 Shawn Broderick Mon, 06 Apr 2009 18:44:05 +0000 http://blog.aisleten.com/?p=459#comment-2659 Mea culpa Logan. Apologies on the lack of email response. I had a few week period there that was flat-out 90+ hour weeks. Great post Micah. You guys did a super job and I'm glad TechStars was able to help you guys along your path forward. Of course the problem that "how to" posts like this create is that instead of having to choose 20 companies from a set of 50 who "did everything right" next year we'll have to choose 20 companies from a set of 100! Best, Shawn (TechStars Boston) Mea culpa Logan. Apologies on the lack of email response. I had a few week period there that was flat-out 90+ hour weeks.

Great post Micah. You guys did a super job and I’m glad TechStars was able to help you guys along your path forward.

Of course the problem that “how to” posts like this create is that instead of having to choose 20 companies from a set of 50 who “did everything right” next year we’ll have to choose 20 companies from a set of 100!

Best,
Shawn (TechStars Boston)

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