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PSL Accelerator FAQ’s

Q: How much time each week will I spend on accelerator-related activities?
A: You’ll spend two hours on educational programming each week and one hour with your team’s mentor every week. The rest of the time is spent building your company.

Q: How many companies will be accepted into the program?
A: 10-12

Q: Do I have to give up any equity?
A: Nope.

Q: What is the cost to participate?
A: We aim to keep our programs & events accessible to early-stage startups and founders. Payment plan options are available. Cost TBA.

Q: Will we receive any funding?
A: Not from the accelerator; however, you will develop strategies and tactics for pitching to investors. The program also includes a demo day where teams will meet with and pitch to local investors and potential customers.

Q: What type of curriculum will you cover in the program?
A: Goal-setting and Tracking Metrics, Market Research, Customer Discovery, Product Mapping & Design, Product Marketing & Launch, Business Modeling and Lean Thinking, Financial Modeling, Business Operations, Diversity and Inclusion, Traction and Growth, Team Building, Fundraising Pitch Preparation and Story-Telling…just to name a few?

Q: Will you sign an NDA? How do I know you won’t steal my idea?
A: Just like other accelerators and VC firms, we do not sign NDAs. We will respect the confidentiality of your venture / idea.

Q: We’ve been working on our startup for a while. Is the accelerator appropriate for us?
A: We are happy to work with more established startups. In fact, you are required to have a product or at least an MVP that’s ready to market and iterate on. Have additional thoughts on this question? Reach out to engage@phillystartupleaders.org.

Q: Do I have to be in the Philly area?
A: Yes, all of the programming will take place in Philly, and we don’t have a way for people to participate remotely.

Q: Does our company need to be incorporated?
A: Not yet!

Q: Where will the events take place?
A: Center City, Philadelphia

Q: Do I need co-founders?
A: If accepted, we allow up to two founders to participate. If it’s just you, that is okay too!

Q: What is the timeline of the program?
A: The application window is open for the month of September. October and November is application review, in-person interviews, and final company selections. Accepted companies will be introduced during our annual Founder Factory in early December. The program begins in February 2019.

Still have questions? No problem. Contact us at engage@phillystartupleaders.org.

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