The Techstars Experience: Remitly’s Story
This post originally appeared on blog.up.co
What's it like to go through a Techstars program? Why choose our accelerator program over others?
This is the fourth post in our blog series,“The Techstars Experience,” with some thoughts from Matt Oppenheimer, Co-Founder and CEO of Remitly, an easy, fast, affordable way to send money online. Matt and his co-founders, Josh Hug and Shivaas Gulati, completed the Techstars Seattle 2011 Fall program.
Here are some highlights from Matt’s post, entitled, “Techstars is a Bargain.”
[re: the network and finding co-founders]
“I love the quote, ‘if you’re the smartest guy in the room, you’re in the wrong room.’ You won’t be the smartest guy in the room during Techstars. Also, if you need an intro, it feels like you’re always one degree away from anyone in the world when you’re part of the Techstars network.
“Everyone gets something slightly different out of Techstars. For me, it was the product network. Having come from the banking industry, I had no product experience or network. Even before being accepted to Techstars, the Techstars network connected me to my co-founding engineer (Shivaas Gulati) so we could apply to Techstars and we then met our co-founder and Chief Product Officer (Josh Hug) in the Techstars program. Josh was our lead mentor and, after being co-founder and CEO of Shelfari (acquired by Amazon in 2008), he was looking to start his next company. Any smart founder knows that your team, especially your co-founders, make or break a business. The fact that I met both of my co-founders via Techstars was invaluable.”
[re: on focus & credibility]
- Focus/momentum: If you really want to grow a business, you need to focus on it 100%. Techstars is a good launch pad to make this leap, if you haven’t already.
- Credibility: Hundreds and hundreds of applicants, 10 companies. That’s a valuable stamp of approval and startups need that stamp to break through the clutter when raising capital, recruiting, etc.
“Knowing the integrity and character of the Techstars leadership team, it was no surprise that they recently announced their “Equity Back Guarantee”. Like many great brands (Costco, Nordstrom, etc), Techstars can offer this because they know how much value they’re providing founders who participate in their programs.”
To get the full story of this founder’s Techstars Experience, read Matt’s full post here.
Want to apply to Techstars? Check out our Program Schedule.