Many founders have to make a difficult decision at the starting of their journey: where to arrange shop.
For deep tech founders, the decision is complicated by the incontrovertible fact that they sometimes need more of their space. Some may have lab benches, others may have massive amounts of electricity, and still others may have space for large equipment. It’s not so simple as signing up for a desk at a nearby coworking space.
In the past, deep tech creators often had to fend for themselves; When they migrated from academic labs to the startup world, they didn’t have much to offer. Today, nevertheless, there are many options, including Motor acceleratorSOSV Hax AND IndiaBio programs and Regional innovation engines that were recently announced by the National Science Foundation.
Founders now not have to do all of it themselves. Rather, the challenge is determining which starter program shall be the best fit.
Emilia Rycerzpresident of The Engine Accelerator, spoke at the TechCrunch Early Stage conference in Boston on how founders should evaluate their opportunities.
The first thing they need to look for is an organization with “patient resources and capital,” she said. Given that deep technology typically takes a very long time to de-risk and bring solutions to market, the time frames are typically longer.
Then, “early startups had to ask the question, does the technology work, and let’s assume it does, what else do we need to think about?” The knight said. “You need to make a short priority list of what you need today.”
This list will include funding, but also equipment needed to develop technology and expertise to help solve problems and navigate the regulatory landscape.
Once founders have made a list, they’ll start evaluating startup programs. “Which of these accelerators, programs, fellowships, or coworking spaces – whatever they are – have the resources they need?” The knight said.
Knight said The Engine focuses not only on providing space and equipment, but also on supporting founders who are often on a long journey. “We are creating a community for founders, for individuals who are doing something which may make you’re feeling lonely, which is often the first of its kind. They probably don’t have many peers.