We are of course thrilled to let you know that we got accepted for the Alchemist accelerator! This is great news as we competed with more than 500 other companies and the Alchemist is one of the top 8 accelerators in the world according to the recent ranking of Forbes. The Alchemist accelerator is situated in the Bay area where we recently opened an office in San Francisco. The Alchemist accelerator is a 6 month program that focuses on scaling business-to-business (B2B) entreprise companies.
What is an accelerator?
But first things first, what exactly is an accelerator? Accelerators are organizations that offer a range of support services and funding opportunities for earlier stage companies in a fixed program. In new markets (like the US for LynxCare) it definitely takes more than a great idea to generate success. There is need for resources, mentors, access to capital. That is why an accelerator works with the company for a specific amount of time, usually from three to six months. They offer the company a specific amount of start capital in exchange for a percentage of ownership of the company. In return you get access to knowledge (via workshops/ strategic guidance), to mentors/coaches, to investors and most importantly to their large network within your industry.
After a first online selection process we were invited for an interview where we successfully pitched the company in 7 minutes and passed the Q&A round. The 6 month program started end of November and culminates in a pitch demo day in May 2018 where we will be able to pitch LynxCare to big US investors. Every Thursday we get together with the other 20 selected companies for interactive workshops (on mentorship, sales, fundraising and community) and for goals check in. Aside from that we will regularly meet with the mentors/coaches of the Alchemist accelerator which are the best! Our goal is of course to start pilot projects in the US to prove our value to the patients, physicians & hospitals over there, like we do in Belgium.