Lessons Learned from the first batch of ReaktorX accelerator for first-time founders, ahead of the second batch.

1. ReaktorX
Fuckup Nights, Warsaw
27.7.2017

2. Let’s start with the good things!
● 7 / 10 graduated
● Those who died did not go away
● ~1.5m PLN of funding raised by graduates
● 100% graduates happy :)

3. Lesson 1: Startup is a full-time job
● Assumption: professionals don't launch companies because even though they
have the domain knowledge, they don't have the time and ability to learn how
to be an entrepreneur
● Reality: The startups that performed best like Sum The Sun or GetLine
worked on their projects full-time
● Noble exception: Evibrave

4. Lesson 2: Workshops work, lectures don't
● Founders are not looking for textbook knowledge
● Founders are looking for experience
● Workshops that involved all the participants & their business were a success
○ I'm thinking of you Kamila Sidor and Kasia Dworzyńska
●

5. Lesson 3: Mentors need to be either 100% in
● You need mentors for many reasons:
○ Talk honestly to somebody
○ Have someone who really cares about your startup
○ Learn from their experience, avoid their mistakes
● Mentors who can’t commit time are out
● Managing mentors is a skill we need to teach founders
●

6. Lesson 4: Interdisciplinary teams are hard
● Hustler, hacker & designer is a pipe dream
● It’s fucking hard to find a business partner
○ especially with complementary skills
○ especially in a short time-frame
● Limited success was the result of people getting to know each other, not
random match-making
○ Dominika + Arek = Homedi
○ Kacper + Olaf = Boson Identities
● Moving away from match-making towards ReaktorY hackathons
●

7. Lesson 5: Demo Day: cut the bullshit
● It’s about attention
● So cut all the bullshit talks and panels
● Get straight to the pitches
● Make sure the investors stay in the audience to hear all the startups
● Everything else is secondary
●

8. Changes, changes...
● Changed the rules a bit for batch 2:
○ Fewer workshops, more integration
○ Bigger role of lead mentor
○ Equity rules change:
■ Reaktor always gets 1%
■ Lead mentor always gets 1%
○ Full-time commitment preferred
○ ReaktorY graduates preferred

9. What’s next?
Apply at reaktorx.com
Deadline: September 6th

10. What’s next?
Apply at reaktorx.com
Deadline: September 6th
borys@reaktorwarsaw.com Good luck :)