By design, our 5-day Capital Readiness Program skips the pomp and circumstance of the demo day in favor of giving founders tactical advice, access to an industry-relevant network willing to help, and insights into considerations they may overlook.
“What I expected coming into the program was lectures and office hours. What we got was a lot more intense than that,” says Michelle Wei, Co-founder & CEO of Four-Forty Imaging. “We got so much information – information about things we didn’t know we needed know. It’s incredibly helpful for developing a roadmap for fundraising.”
Michelle Wei, Capital Readiness June 2024
“This program has been the executive MBA for startups... I’ve learned more in two days than I have in the three other accelerator programs I’ve participated in.”
Fail Fast, Scale Thoughtfully
Scaling a business requires a deep understanding of the market, a
strong product-market fit, and the ability to build and manage an
effective team. It’s a complex, iterative process that involves
continuous learning and adaptation. Winning a competition doesn’t equip
startups with these essential tools. Pitch competitions often focus on
presentation skills and charisma and don’t correlate with a founder’s
ability to execute a business model or achieve market traction.
Preparing for these events can distract from crucial activities like customer discovery and product-market fit. The temporary boost in visibility can cause founders to prioritize style over substance, with validation that doesn’t always reflect real market conditions.
During the Capital Readiness Program, we focus on the substance that makes a healthy startup. Our Investors-in-Residence spend five days working with companies to understand and refine their value proposition and identify opportunities and operational gaps. Participants won’t emerge with an oversized check, but they’ll be more capital efficient and better positioned to pursue funding in the future.
“This program has been the executive MBA for startups,” Elena Rueda Carrasco, Co-Founder & CEO of Dama Health, shared during the June 2024 cohort. “I’ve learned more in 2 days than I have in the three other accelerator programs I’ve participated in.”
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Do business with each other. Get business for each other.
We believe founders will benefit more if they focus on learning from their peers rather than outperforming them. Your competitor might be a better collaborator.
At the Science Center, we help health tech founders build sustainable, scalable businesses. By focusing on the core aspects of startup growth, we prepare them to succeed in the long run.
But don’t just take it from us.
“There's a lot of these kinds of incubator, accelerator, pitch demo day things, a lot of them have... a lot of credentials. Do two of them and you’re likely to see there’s a pattern to this, like service providers pitching to you, and when you get tired of that pattern, do this one,” Marvin Barron reflected following his participation the March 2024 cohort.
P.S. Pitch Competitions Aren't Always Bad
Before our inbox fills up: pitch competitions aren’t all bad.
They can provide exposure, networking opportunities, and sometimes important funding for startups. The benefits, however, are only meaningful if startups approach them with a balanced perspective. It's essential for founders to recognize that while these competitions can be a useful tool, they should not become a means to an end. Avoid getting caught up in the cycle of participating in these events at the expense of the real work that drives business growth.
