Overview: Common Accelerator Questions

An overview of the Galileo Accelerator and common questions on the program.

Galileo is launching a new type of accelerator focused on sales, marketing and core go-to-market strategy.

We focus on founder coaching and core business functions like sales and marketing to help you win more customers. 

Specially, we help you find product-market-fit or a repeatable sales and business model. 

We’re not an ‘education program’, we’re more of a later-stage (scale-up) style program.

While we will help you craft your pitch, fundraise or build an MVP, we would like to see that you have done some of that before through another program or by yourself.

What is the purpose of the accelerator? 

The accelerator is how we provide support to our investments. Galileo aims to invest systematically into startups at an early stage, and so we provide support through the accelerator rather than spreading ourselves too thin.

Our focussed support time is the 12 months post investment and the 6 month accelerator program is part of that ‘package’. 

We also think accelerator (cohort style programs) are the best way to scale support and increase network effects between you and other startups at a similar stage. Group/cohort learning is powerful and often cited as one of the "best" parts of accelerators for teams.

The aim of the accelerator is to get your go to market "engine" running smoothly.

This is often a lot of sales and marketing, but also needs to address product management cadence, pricing strategy, operations (like hiring and firing) and many other parts of "the reality of business" you will encounter as your startup grows.

Importantly, the purpose of our accelerator is not to prepare you to pitch or fundraise. Once you have a product in the market, investors will look at traction as a major measure of your success, and that's where we want to focus your time and effort.

But I already know about pitching and lean startups?

Great! That is not what we do in our accelerator.

We help you to get your product to the right customers, and learn the skills to operate and scale an early stage startup as you grow.

What happens in the program?

During the 6 month semi-structured program, one week each month (virtually during COVID-19) everyone gets together to focus on a core skill area.

The remainder of the month is spent working with Galileo partners and coaches to build and sell.

After the program, we offer a further 6 months of ongoing support (mentorship and 'accountability').

Generally speaking, we expect most startups to look for more investment 12 months after our investment – we want you to have your heads down operating/building your startup not fundraising all the time. At the right time, we're happy to help you with fundraising support.

Do I have to participate in the accelerator?

Our standard investment requires all teams to go through the accelerator, as this is how we provide tailored support and expert advice to you.

We prefer this over the traditional method of sitting on a board (we don't take board seats as part of our investment).

Think of our accelerator as another member of your team to help provide tailored, expert support and feedback as you grow over 12 months.

Do you have to relocate to participate in the accelerator?

No. There are no relocation requirements for our program.

During COVID-19 our Sprint Weeks are likely to be all remote. We may have some in-person aspects to the program if health advice allows, particularly for you to meet the other teams in your cohort.

Absent COVID-19 issues (whenever that might be!), we hope startups can attend our Sprint Weeks (5 days/1 week a month) face to face, which we plan to run in different capital cities so that you can meet customers, partners, investors or other startups throughout each city's ecosystem.

Regardless, we want you based where it makes sense for your business to succeed. We don't require or expect you to make any permanent relocation.

What are the time requirements of the accelerator?

We aim not to take up your time unnecessarily – there are no 'daily activities' from us, and if you think something planned is not relevant to you, tell us – we might agree, or it may be that you don't see where it is relevant to your company.

We ask all core founders to come together for up to 1 week per month over 6 months either online or in a major city to participate in training, coaching and meeting potential customers.

We want founders that are excited to participate in our accelerator cohort, who will become your extended peer and support network into the future.

Can I see more details on the schedule and program?

Yes! Soon we’ll launch more details for our startups and potential startups.

We’re applying a ‘launch and iterate’ approach (like we recommend to our founders!) and more detail will be made available for companies that make it to the next stage of application.

If you have any specific questions, please just get in touch at team@galileo.ventures.

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