Frequently asked questions
What does the 90-day Program Schedule look like?
The accelerator program is 90-days and begins with an orientationworkshop following a VIP Kick-Off Event. There are 12 weekly workshops, weekly mentoring sessions, monthly events, and weekly themes. The following is an example of a 12-week timeline although actual program dates and subjects may vary.
How do startups scale in 90 days?
2020 Startups has an outline for the 90-day program which includes three specific subjects for each month and weekly topics. The first month is Assesment and Startegy, the second month is Press and Partnerships, the third month is Investor Relations. Take a look below to get an idea of how to scale your startups in 90 days.
How does the application process work?
1. Submit an application request
2. Receive/Complete the application
3. If selected: Phone Screening
4. If selected: Enrollment Interview
5. If selected: Board Vote Selection
6. If selected: Receive Acceptance Letter
7. Complete Enrollment (Paperwork & Payment)
8. Attend Final Enrollment Meeting
What kind of questions should I expect during the application process?
1. Why do you want to join 2020 Startups?
2. Any current press, partners or recent accomplishments?
3. Are you able to commute, do you live near by, will you have accommodations, what's your schedule look like for the quarter?
4. Are you aware that 2020 Startups doesn't take equity from our startups?
5. Are you aware and prepared for the program cost of $2,500 upon being accepted?
6. If selected, you'll have to be a team player and participate in the program schedule, does that work for you? Give some examples of being a team player.
7. What's your daily/weekly schedule? Our program is part time with events and workshops in the evening and mentor sessions during the day.
8. How big is your team? Any investors, any revenue?
9. If you raised $500k how would you spend it?
10. What is your #1 strength and #1 weakness?
11. What are your biggest challenges as a startup?
12. What's more important: a great team with a bad product or great product with a bad team, why?
13. Why should the board accept your startup over others?
14. Give an example of you being accountable and committed.
15. How familiarare you with term sheets, presentations, pitching, etc.
Why does it cost $2,500?
The entire 90-day accelerator program is valued at $25,000 per participating startup. Thanks to our partners and sponsors 90% of the program cost is subsidized. Participants are required to pay 10% of the program's tuition which comes to $2,500 per startup.
The average cost for an entrepreneur to effectively run a Startup in NYC compared to services given is approximately $6,291 a month.
That’s almost $19,000 for 3 months, and that’s not including program perks and spend credit from our partners.
What form of payments does 2020 Startups accept?
1. Bank Check (No Fee)
2. Wire Transfer ($20 Fee)
3. Money Order ( Credit Card Option)
We currently do not accept crtedit card payments. For credit card payments please pay for a money order. The payment and paperwork is handed in at your final enrollment interview.
Where are the upscale workspaces?
Day to Day co-working is out of "Spacious" locations which include over a dozen upscale workspaces in NYC. Spacious membership is included in your 90-day accelerator program.
Since our cohorts have access to over a dozen workspaces across NYC we select each quarter a new Central Location to support a more cohesive and collaborative atmosphere.
For a list of all locations you will have access to as a 2020 cohort member visit: www.spacious.com/locations
Where are the weekly workshops?
Weekly workshops take place at our founding headquarters:
150 Broadway, 20th Fl
New York, NY 10038
Sometimes special workshops are hosted by startups or corporate companies in which case the cohort is notified in advance. All other times workshops take place at LMHQ.
Here's a virtual tour of LMHQ and workshops:
When is Demo Day and what does it look like?
Demo Day is at the end of your 90-day program and is a real-world scenario where startups pitch an investor panel for funding. Demo Day is considered a dress rehearsal for what your startup will be doing for years to come.
Here's a virtual tour of a Demo Day @ Gust
When is the VIP Kickoff and what does it look like?
The VIP Kickoff Event is in the first week of the accelerator. As a participant you get to meet our partners, alumni, speakers and introduce yourself to the 2020 community.
Here's a virtual tour of a VIP Kickoff Event:
When is Orientation Day and what does it look like?
Orientation is your first day at 2020 Startups. Considered your first workshop, on orientation day participants meet each other, the staff, instructors, and get a look of what their next 90-days will look like.
Here's a virtual tour of Orientation Day
How do we contact mentors?
Participants of the 90-day accelerator will login on the website on our Member's Lounge where they can directly email a mentor, download resources and worksheets. We always ask cohorts to be courteous and respectful when contacting 2020 mentors at all times.