Hotbed is a virtual accelerator that aims to address the imbalance in funding and opportunity distribution for startups. The founders, Perdie Alder and Em, recognized the need for investors to access talented founders outside of major cities. They use a unique strategy of assessing founders based on their ability to execute and their focus on customer insights. Hotbed has worked with over 500 startups from 40 different countries. The founders emphasize the importance of speaking with users, being focused, and having the ability to sell. They also discuss the challenges faced by female founders and the need for a supportive network. Hotbed encourages founders to have a positive mindset and to approach investors with empathy and a clear value proposition.
Takeaways
- Hotbed aims to address the imbalance in funding and opportunity distribution for startups.
- The unique strategy of Hotbed focuses on assessing founders based on their ability to execute and their focus on customer insights.
- Speaking with users, being focused, and having the ability to sell are key characteristics of successful founders.
- Female founders should focus on communicating the larger vision and talking about opportunity rather than risk.
- Hotbed encourages founders to have a positive mindset, maintain a supportive network, and approach investors with empathy and a clear value proposition.
Chapters
00:00Introduction to Hotbed
00:14Identifying the Shift in the Market
01:36The Unique Strategy of Hotbed
03:57Challenges of Getting Started
06:13Defining Characteristics of Successful Founders
09:30The Funding Ecosystem
11:17Building and Testing MVPs
12:09Diversity and Inclusion in the Tech Space
15:14Raising Funds in Different Markets
20:28Importance of Supportive Network
22:36The Origin of the Name Hotbed
23:45Improving the Funding and Opportunity Distribution
27:03Maintaining a Positive Mindset
29:25Best Success Story
30:58Approaching Investors
32:07Contacting Hotbed
