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Have any founders experienced StartEngine accelerator in LA?

They say you don’t need to have traction to be accepted and they use YC SAFE documents.  They claim they have the best terms, which seems ridiculous as they give $20k for 4-10% when YC gives 120k for 7%, 500startups gives 100k for 7%, Techstars 118K for 7%, etc

  • OP here.

    Would also like to know on a tactical level, how useful they are to their startups? Ie Do they have valuable connections to VC/angels and industry heads and do they provide solid intros to them? Do they tangibly help their startups grow (eg achieve user growth/sales/revenue levels)? Who attends their demo days?

    Even if they’re not top tier, if startups can achieve specific growth goals, then it may be worth it or at least a good launching pad?

    Reply

    • frankly, most accelerators won’t help you with growth. there’s no silver bullet for sales and getting customers – you have to grind it out as the founder. as far as valuable connections to vcs/angels, i’d take a look at who else is in their portfolio, what % got followup funding, and from which vcs (aka, are they reputable)?

      Reply

      • Sometimes you only need $20k. By any means necessary. TBH, accelerators are good for getting you to think your shit through. If you can’t do an MVP to start to get traction/rev for $20k what makes you think you can do it for $100k?

        Reply

        • by that logic, if you can’t do an MVP to start to get traction/rev for $0, what makes you think you can do it with 20k?

          Reply

          • ++1

            The logic behind the previous comment is pretty dumb, considering how costs vary across industries. Eg MVP for heathcare/Bioscience (especially if hardware/testing/drug components) vs free app/website are very different.

            Reply

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