Why NachoNacho Joined the Alchemist Accelerator
Accelerators can be understood as colleges for startups. As the name suggests, these programs are designed to accelerate the development o of young ventures. Many early-stage companies apply to these programs to leverage the mentorship, network, and brand name. Similarly, NachoNacho found the best balance of these benefits within the Alchemist Accelerator. At first glance, Alchemist boasts over a billion dollars in funding, with a portfolio of over 300 companies. The real value of Alchemist however comes from its wide-reaching network.
Easy access to mentorship from industry leaders and scores of perks with essential products are a potent competition to help any early-stage venture build a foundation. Additionally, Alchemist’s bubbling community invokes comparisons of family, as past and present members proactively support the ecosystem. Such immense support served as a key factor in NachoNacho’s participation in the program. With this understanding of how Alchemist helps companies like NachoNacho, let’s dive deeper into how the accelerator functions.
Venture capital used to be a cottage industry, with very few investing in tomorrow’s products and services but times have changed. Now a growing industry, it includes the Alchemist Accelerator, ranked the top accelerator program by CB Insights based on median funding rates of its grads. The San Francisco-based accelerator program boasts more than 200 startups with a total capitalization of more than 50 billion US dollars that has already left the accelerator since its inception in 2012. Focusing entirely on enterprise startups (a.k.a B2B and B2B2C companies) with strong technical founders, Alchemist provides these companies with a structured path to mentorship, fundraising, traction, and community for ambitious founders.
The Alchemist Accelerator Curriculum
So how does it work? Startups will be offered a small investment via a SAFE (Simple Agreement for Future Equity), the typical amount is around $36k. As a result of its small exclusive pool, the accelerator program provides a personalized experience for each start-up that focuses on their potential enterprise customers and VCs. There is a central group curriculum encouraging the sharing of accomplishments and exchange of feedback like Alchemist’s Feedback Summits; expert talks; workshops; and individualized mentoring sessions with Alchemist Partners, successful CEOs, and other experts matched specifically to your company.
Alchemist supports companies that monetize from enterprises, regardless of business model. The definition of an “enterprise startup” is based on where the revenue comes from—”B2B” and “B2B2C” both qualify. All product types, customer segments/sizes, and business models are welcome from software to SMB. Alchemist has proven valuable to companies at a variety of stages, including those with substantial customer traction and investment. Alchemist companies may be located anywhere in the world with many successful alumni based in the United States, Europe, the Middle East, Africa, and Asia. Our investment flexibly accommodates your country of incorporation.
The Alchemist Accelerator boasts a shining portfolio. More than 300 companies have taken part in Demo Day, with $504 million raised in total capital, and 23 companies being acquired by Cisco, GE, Dropbox, and more. The wide variety of B2B companies they have worked with include Shuttle, the world’s first booking platform for commercial space travel; Amber Agriculture, a wireless grain management platform for farmers; and JyMob, an HR platform for companies to choose the most compatible employees. The accelerator’s current roster includes NachoNacho, a B2B subscriptions marketplace and management tool. Buyers can manage current subscriptions and find other subscriptions that might suit their business in the marketplace based on personalized suggestions. Simultaneously, sellers can partake in a marketplace that delivers their Saas products directly to SMB consumers. Rightly nicknamed “the Amazon of subscriptions” and carrying brands like Copper, Canva, and Monday.com to name a few, NachoNacho exemplifies an Alchemist Accelerator-backed company on the rise.