Lessons from Four Months in the PIE Startup Incubator

Thank you so much for your insights, your guidance, and your candor. It was great working with you as a founder. I can't wait to have you involved in PIE as a mentor.

We were accepted to Startup Chile and there are two benefits to being in that incubator as I see it. First, the money is a significant one. It adds 6 months to our runway before we need to take outside money, possibly allowing us to never need outside money. Secondly, it gives us some social proof since it is a competitive admission. Hopefully this will help us find advisors (which is what we need right now more than investors.)

I look forward to your follow up post on not taking money. I think for some businesses it is possibly the right path. Or, as an alternative, taking small amounts of money on the order of $100k-$1M investment total rather than the $5M-$20M that seems to be the goal of many startups.