An internet “old-man’s” perspective:
This venture is being started by two brothers from two very different internet generations. I am 36 and have been through quite a few startups to varying degrees of success and my brother, 24, has worked for one very 2.0 startup out of another incubator.
It’s very easy for me to look at what an incubator provides and say what is it possibly going to offer that I don’t already have access to or already know myself. The answer: a lot.
Learning. An incubator is all about learning. You are watching yourself and the other teams around you learn about everything from market opportunity to the newest technologies. As an old dog (in internet years) it’s important to be constantly in the know. Being a technologist, the most valuable skill I have is my ability to learn. I can’t say how many times I have worked on some little piece of antiquated code knowing that I will probably never touch this technology again. I just want to cry. My comfort is in the fact that I am just constantly in training for learning how to learn. I see a summer program like this as an intensive learning-how-to-learn session.
Direction. Having been through a few startups, staying on task with momentum is key. It’s very easy to get lost in the dark of an untested idea. This program gives you an advisory board that you can actually talk to rather than the one that you usually put together so you look attractive to potential investors.
Environment. Motivation in dealing with the unknown is always a struggle. Putting yourself in a competitive environment just naturally brings the will to succeed. These programs remind me of running track when you had not only the sideline to cheer you on, but the fellow runners to keep you going.
Professional Services. When you are young, this is critical. The basics of business and administration seem overwhelming. Having professionals you can rely on as part of a program helps you navigate company formation, stock plans and all the other legal malaise of ip, copyright and trademark. So as an “experienced” entrepreneur why would I want to make an equity trade for desk space and peripheral services (lawyers and accountants)? Well, being experienced, I know there is always something to learn with each go-around and that this process is really more of a black-art. It’s very time consuming and every professional has slightly varying opinions on how all the boxes need to be checked.
This is most definitely going to be an interesting summer for us. When we looked at our options, we gravitated toward a program we felt offered more opportunity with a lot less of the hype. This process was made even more interesting because we applied and were accepted more under the umbrella of the potential of market space rather than simply summer build plan.
Awesome post. Just tweeted it. Back to php….