Business Milestones post-Demo day
Our program is focused mainly on helping you understand how to acquire new customers and also fundraise, with the idea being that after 3 months you’ll have a solid framework and enough momentum to keep running at a similar pace for the next year, and maybe even longer. Here’s what you should be aiming for, and working with, 6-12 months after the program.
Solid KPIs to measure and grow your business in the following months
Some founders take time to find the right way to measure the growth and health of their businesses. Some come into the program and pivot within the first few weeks, and have to go back to square one. It takes a long time, and a deep understanding of your business to know how and what to measure.
You’ll walk out of the accelerator with a solid understanding of all of your businesses’ functions and how to measure them. Having the right KPIs will help you raise the right amount of money when you need it, and invest in the right sections of your business to continue selling at your optimal pace.
Amount of funds you should be looking to raise
Techstars alumni on average go on to raise $2M in outside funding after the accelerator programs. Most companies that complete the Techstars Berlin Accelerator programs have historically been raising a late-seed or small Series A round. This is in line with most other Techstars programs, and accelerators across Europe.
During the program, we will help you build up pipelines for investors, make introductions, and help you create any materials your investors might ask for. Ideally, you’ll be in a good position by Demo Day, where we will invite a number of European VCs, and you’ll have the opportunity to meet with them and network.
Number of clients you should be looking to have
As with any sustainable business, the focus should be heavy on revenue, increasing your customer’s LTV and decreasing the CAC. With the help of expert consultants who will come in to help with all things sales, you’ll find and optimize your product/market fit in no time. Plus with the Techstars investment, you’ll have a big name backing you in your local markets and on the international stage. You’ll find your pipeline will have increased significantly as you invest hard in your marketing and sales.