The first round of the Soundtech Accelerator program has after six months come to an end. As always, Accelerace and our partners make sure to evaluate. And that feedback we happily share with you to give all startups the newest information about what it means to be in a tailor-made accelerator.
Have you ever thought about participating in an accelerator programme? There are many to choose from. One of the newest in Denmark is the Soundtech Accelerator created by Sound Hub Denmark and Accelerace. The first batch of startups has now graduated from the program. Here are some of the feedback they have given – and the learnings they have done.
First of all, one of the biggest strengths of this accelerator programme is the level of industry-specific knowledge that the team behind the accelerator possesses. The seven startups from the first batch had three camps, a kickoff, a midway, and a final camp. All focusing on developing, accelerating, and upscaling the startup. All the startups also get access to high-end testing facilities at the Sound Hub in Struer. Among these are a robustness lab, listening rooms, and the Cube.
A diverse team has your back
The accelerator has done a lot of impact on the seven now alumni startups. With extensive knowledge from the Accelerace team about startup dynamics, marketing, and business development combined with the experts from the sound industry working with the teams, the feedback given shows that the accelerator has made a difference – to many different kinds of startups at various stages.
“The whole point to being here was that I didn’t know how to go from idea to prototype to something that you can sell and make a business from. I didn’t know much about marketing, the dynamics of the market, the testing of the product, or how to bring that idea into production,” says Boris Polsek, founder of Cocobo, a coconut speaker concept that he has created himself and is about to roll out in a larger Kickstarter campaign.
Boris Polsek further summarizes, “Accelerace made me test the market before I invested time and money to build the final product. Everything from planning tests, setting them up and analyzing, for instance, how many people click on this and that on my landing page. A test they helped me design.”
Even the best engineers need a businessman
As an early stage startup, Cocobo had help from the beginning with both technical and business related matters whereas a more late-stage company like Distopik had some completely different challenges before applying for the program.
“The company is not young anymore and we have a product that the market needs. We were not sure how to market it, how to sell it, and who to sell it to. All that was quite challenging for us. We are first of all engineers, not businessmen. So, all the skills required to get a product in front of someone and then for them to use it were new to us,” says Distopik CEO, Bojan Šernek.
A program that exceeded expectations
The concept of what an accelerator is and offers has become more confusing over the years. More accelerators have popped up all over the world within many types of business and the way they work is very different. Therefore, what to expect can be hard to know.
“I’ve had some experience with other accelerators. My initial reaction to the program was being a little bit skeptical or careful. But when I experienced the level of expertise that the team had, my concerns disappeared straight away,” says Frederick Rickmann, CEO of the Danish high-end speaker brand STEENSSEN.
Get a more solid business with help from the mentors
Muuselabs, a startup that develops smart toys, also graduated from the Soundtech Accelerator program. They are currently marketing Jooki, a jukebox for kids. Theodore Marescaux, CEO and Founder, points out how much value the accelerator program brought them – even as a later stage startup with a product on the market.
“The roadmapping exercise reminded us of an idea that we had had a long time ago, and enabled a completely new sales channel,” he says and continues:
”The Accelerace team helped us shape our strategy and our next steps that will help us build a much more solid business.”
Define your challenges – and listen to the feedback
He has one simple advice to other startups wanting to participate in the programme:
”Come up with your own formulation of problems. What the Accelerace team has been exceptionally good at is to help in a very practical way around our problems. But of course, it is up to the startup to come and define the challenges properly. The best way to create common understanding is to participate in the workshops, and spar about what is going to come. And then mold yourself around the feedback.”
Do you want to be in the next batch? Read about the Soundtech Accelerator program here.
Congratulations to our first batch: