For many startups, including ours, getting accepted into Techstars is a significant milestone—a validation of the problem you are solving and the potential of your solution. It is a recognition of the countless hours poured into building something meaningful, signaling to the world that you are on the right track.

Our experience at Techstars was nothing short of amazing. We have grown immensely as a company and as individuals. In this blog post, we are excited to share a glimpse into our journey at Techstars, filled with intense learning, invaluable connections, and pivotal moments.

Pre-Program: Applying for the TechStars Program The journey of a thousand miles begins with a single step—Lao Tzu.

When we started GetEquity, we had a clear vision: democratizing access to venture capital and empowering individuals to invest in promising startups. We spent years building GetEquity and passionately promoting our funding marketplace. We realized the African investment landscape faced broader challenges along the way. We had conversations with visionary founders and investors and recognized the need to pivot our approach from our existing business model to address these broader challenges comprehensively. 

This realization motivated us to apply for Techstars. Techstars provides the opportunity to tap into a community of founders, industry leaders, and potential investors—exactly what we needed to expand our offerings and solidify GetEquity’s place in the industry. Before applying, we set four major goals: refine our strategy, enhance our investment readiness, tap into mentor expertise, and scale our vision.

We began the application process in March 2023, filling out the online application and detailing our vision, team, and aspirations. After submitting, we faced the Techstars selection committee six times, providing detailed insights into GetEquity. In October 2023, we received the call we had been anticipating—we were selected as one of the top 12 startups, chosen from 5,000 applications, to participate in the 2023 ARM Labs Lagos Techstars Accelerator Programme.

This news brought immense joy. It marked the beginning of an incredible Techstars journey, one we were determined to maximize to achieve our goals.

During the program: 13 Weeks of Intense Learning and Growth

The only source of knowledge is experience. ~ Albert Einstein

Our Techstars journey began on November 13, 2023. For some of us who had been away from academic settings for a while, the initial weeks proved demanding. From Monday to Friday, our schedule was filled with classes, bringing back the nostalgic feeling of having a school routine.

We participated in workshops focusing on product-market fit, fundraising, and business development. The week after, they introduced something called “mentor magic”—a sort of speed dating program but for mentorship with senior operators and industry leaders. The idea behind it was quite interesting, and it gave us the opportunity to get valuable insights and actionable advice from these people. Not only did the advice they gave broaden our perspective, but we also built connections that opened doors to potential partnerships even in our first few weeks.

Juggling Techstars with daily responsibilities at GetEquity was demanding. We had to attend daily sessions while managing the team, keeping internal operations running smoothly, and even exploring new business opportunities. Fortunately, we found a way to balance both. We adjusted the timing of our standups, and to ensure everyone got the most out of the program, we took turns attending sessions based on what was most relevant to each co-founder’s role and immediate needs. 

One of our goals was to refine our strategy, which we achieved within those intense weeks. We broadened our scope to encompass a wider range of capital investments, including private equity, credit, bonds, debt, fixed income, debt, real estate, and other opportunities. This strategic move allowed us to cater to a broader range of qualified investors, transforming us from a niche player into a diversified, global business.

After the Program: Beyond Techstars

All good things must come to an end, says Geoffrey Chaucer.

Our 13-week journey ended on February 20, 2024, with the Demo Day showcase. This was our moment to showcase the evolved GetEquity to an audience of investors, business leaders, and potential partners. It was the culmination of intensive learning and growth.

Techstars equipped us with the guidance and resources we needed. Now, it’s time for us to continue the journey on our own, armed with the knowledge we’ve gained and the connections we’ve made.

We’ve started by initiating targeted market expansion, establishing a presence in key regions with high growth potential. This involves not just entering new markets but also adapting our offerings to cater to the specific needs and regulations of each region. Secondly, we capitalized on the connections we made during the program. We partnered with key players in the private investment space, expanding our service offerings and fostering a collaborative ecosystem that would benefit both parties. These strategic moves not only solidified our position in the market but also helped achieve one of the goals we had in mind before applying for the program.

The intense weeks at Techstars changed us, not just in knowledge but in our very approach to GetEquity. We left the program with a refined operational philosophy. This includes the ability to adapt swiftly to evolving market conditions and continuously iterate both our product and overall strategy. Data has also become the cornerstone of our decision-making process, guiding us to measure the impact of every action and refine our operations when needed.

Considering Techstars? We’ve Been There, and Here’s What We Learned

If you have knowledge, let others light their candles in it. Thomas Fuller

If you are reading this blog post and you are considering applying for Techstars, here are some of our key takeaways that you might find helpful. These key takeaways will equip you for a successful application and even an enriching program experience:

• Understand Techstars’ program and values, especially “Give First”. Your startup’s and personal values should align with theirs.
• Clearly explain your vision and how your product meets a real need. Show real progress with data and documentation.
• Build a strong, complementary team. Techstars values cohesive teams. Your founders, co-founders, and key team members must bring complementary skills to the company.
• Demonstrate traction—it could be user growth, revenue, or product milestones. Tangible results show your company’s potential.

Once accepted, fully engage in “mentor madness.” Connect with mentors aligned with your goals, ask questions, and absorb their feedback. Stay adaptable, be open to new insights that reshape your perspective, and be ready to pivot strategically based on real-time feedback. Practice diligently, honing your storytelling skills to effectively communicate your company’s vision, value proposition, and potential. A strong pitch is important not only during Techstars but throughout your startup journey.

Conclusion

Our time at TechStars was amazing. We’re grateful for the resources and opportunity to learn and work alongside other startup founders. The mentors were real superstars, helping shape our team and vision. We’re energized and ready to take GetEquity to the next level. We are inviting you to join us on this exciting journey.

To learn more about GetEquity, download our app on iOS and Google Play, or visit www.getequity.io. Finally, if you have any questions or concerns, send us a message at [email protected].