An In-Depth Look Into PSL's Founded In Philly Idea-Stage Accelerator
About Founded In Philly
The Founded in Philly accelerators create opportunities for entrepreneurs to gain skills, expand their network, and access resources while growing a business in Philadelphia. Series I, our idea-stage program (February - April), is designed to teach new founders the mindset, skills, and endurance needed to pursue entrepreneurship. Series II, our MVP-stage accelerator (September-November), equips early-stage startups with the mentorship, knowledge, and network needed to prepare for growth.
Over the last few months, we developed 20+ incredibly inspiring individuals into founders, and provided a space for them to experience the rollercoaster that is entrepreneurship, together. There were a lot of twists and turns and milestones achieved…and then COVID-19 happened. Despite the pandemic, these promising founders powered through.
It has been a pleasure to witness their growth, and we are excited to see these brand new founders transition smoothly into Philly’s startup community. Keep reading to learn more about our idea-stage program and recent graduates.
Meet the Founders
“Being around peers and mentors during Founded in Philly has kept me grounded and provided a support network of people that understand what I am going through more than anybody else would.”
Out of 60+ applicants, 20 were selected to participate in the program. Participants range from all walks of life and represent a variety of industries. About 60% consider themselves solo founders, and about 70% are pre-revenue. Many of them balance full-time jobs and the responsibilities of family life, yet on average they find about 30 hours a week to dedicate to their business. Additionally, they operate across many verticals but generally fit within the following categories:
30% Education & Career Development
25% Health & Wellness
20% Hospitality, Travel & Entertainment
10% Home Improvement & Real Estate
10% Sustainability
5% Retail & Delivery
Founders & CEOs include:
Adit Gupta, VYB
Helping consumers discover real-time reviews of their favorite restaurants and bars.
Amanda Olsen, GIVZIE
Helping parents give great gifts without buying more stuff.
Amy Kopelman, PATHLITICS
Paving the way for a student’s future by linking their career DNA to current professionals.
Ashley Turner, PHILLY TECH SISTAS
Learn to code without the financial burden in a safe, inclusive environment.
Bryan Siegfried, RABBIT RECYCLING
Confidently divert your landfill waste to be recycled, reused, or up-cycled.
Dana Mahoney, ROLLO MENTAL HEALTH
Get the right therapist for you, when you need it.
Elizabeth Vaysman, DACHA FAMILY
Unlocking access to family planning resources for individuals and companies.
Gaurang Bham, PHOODIE
Automated discounts for restaurants to incentivize customer orders at low-service times.
Ian DiBruno, PLAZE
Bringing the music community together by enhancing collaboration amongst creatives.
Joelle Tolifero, MY LOCAL FRIEND
Making it easy to find unique experiences that contribute to small businesses and their local economy.
Joshua Mastromatto, ENTREGO
Products you love from stores you love, brought to you faster.
Khalil Lewis, BUYRENTSELLME.COM
Locate affordable housing that matches your current situation.
Less Cardinal, TBA
Building generational wealth for black and brown families.
Linda Donoho, VENT
Helping high schools give teens a place to vent.
Michael Costantini, THIS IS OPPORTUNITY
Find a job without using your resume.
Shannon Morales, ECHO ME FORWARD
A consortium of quality, diverse talent at your fingertips.
Shannon O'Neill, MMURE
Personalized solutions for sex, without the awkward conversation.
Shradha Doshi, TBA
Helping busy parents find a tutoring avenue that fits their schedule, budget, and children’s needs.
Stephanie Gillin, RENNOVAID
Curate your renovation vision and eliminate indecision.
Xan Hong, ONTRAC
Helping people live happier, more balanced lives by simplifying the process of achieving their most important life goals.
If interested in learning more about the founders and their startups, please reach out to the PSL Team at engage@phillystartupleaders.org.
“The biggest thing I gained from my experience is the confidence that I can do this. I’ve done it before on other products for other companies. I can do this for myself and for my company! And now I have the community behind me to never let me forget that.”
Curriculum
Each weekly session focused on a different area of building a business. This year, we invited mentors to join us weekly so that participants had guidance every step of the way. We kicked off the program sharing what each founder envisions for their product and company. You can check out their original vision statements here: 20 New Entrepreneurs Envision A World With Their Startup Solutions.
Early sessions taught the founders that in order to best articulate a problem and solution, they have to understand and interact with their customers. Naturally, this led to identifying an ideal customer while conducting several interviews for feedback. They also learned to validate their idea without technology. Mentors were clear to emphasize that you can build an MVP without using technology to get started since early priorities do not necessarily include automation and scaling.
Then, our Business Models session provided strategies on how to create revenue streams early on without being afraid to pivot. It was around this time that the program itself had to pivot due to COVID-19. Rather seamlessly, we finished the program with our Metrics That Matter, Navigating COVID-19, Financial Planning, and Storytelling & Branding sessions all via Zoom.
“I believed that my biggest barrier to success was not having technical skills. Thanks to the accelerator, I now have confidence in what it means to build an MVP with limited technical resources.”
SPEAKERS & MENTORS
We are extremely grateful to the 36 startup leaders who donated their time and energy to mentor our participants throughout the 12 weeks! It truly takes a village and these leaders provided encouragement, helped facilitate progress, and guided founders where they needed it most.
Their above and beyond approach to helping Philly founders grow and succeed is what makes these mentors incredible assets to the program and Philly’s startup community.
Fun stats: About 50% of participants said they gained 20+ mentors during the program, while the remaining 50% said they gained anywhere from 3 - 20 mentors. Mentorship is a core component of PSL programming and we appreciate every startup leader who raises their hand to help us help others.
LEARN MORE ABOUT THE SPEAKERS AND MENTORS HERE
“Based on the guidance and mentorship available through PSL, I made an early decision to pivot MMURE to focus mainly on e-commerce. This change provided a clearer path to revenue and a stronger understanding of my customers.”
Key Takeaways
We collected data before, during, and after the program. Here’s a peek at some of it:
85% of participants say the accelerator experience had an immense impact on their company’s progress.
80% of participants say the accelerator is responsible for a key relationship (mentor, co-founder, or investor) for their startup.
80% of participants say the accelerator has made them feel more confident as an entrepreneur.
80% of participants say the accelerator has made them more likely to keep their business in Philly long-term.
95% of participants say they are more likely to continue pursuing their startup because of the PSL accelerator.
95% of participants consider PSL to be one of the most important resources for their company during this time.
100% of participants see value in having a long term relationship with Philly Startup Leaders organization and community.
“Without the program, I doubt I would have any direction in response to COVID-19 and would not be as close to launch as I am now. The program provided resources, a support network, and a community that has made my team and I more resilient than ever.”
After The Program
These founders are now #PSLAlumni and will continue to build upon the foundation of their startups beyond the program. The mindset and skills of an entrepreneur are ever-evolving and PSL is here to ensure each and every founder knows they are not alone on their journey. Look out for them as they work to scale their operations and give back to the next generation of entrepreneurs.
Interested in being part of Founded in Philly? Learn more here.
“Founded in Philly has pushed me to re-establish and strengthen my relationships with other entrepreneurs. I no longer feel alone or overwhelmed (especially during COVID-19).”
Written by Jaclyn Allen and Kiera Smalls
“The PSL community has a diverse and well-versed group of entrepreneurs & leaders. The accelerator is the tip of the iceberg for potential resources and advice.”