About the field trip in San Francisco

On October 10th, we visited AlchemistAcc, an accelerator and incubator company based in San Francisco. It is warm that we have two Cal alumnis, also known as ‘bears’ to introduce the company for us. One of them is the COO of AlchemistAcc. 
AlchemistAcc is the first accelerator and incubator company that I visit. Before that, I have little knowledge about accelerator and incubator companies, such as they provide services to small and potential startups and help them grow fast. However, I don’t really know the operation and the business model of them. The COO of AlchemistAcc Danielle describe the company as ‘a mini MBA for startups’. She said that time is the lifeblood of startups and what accelerator and incubator companies do is to save time for them by providing ‘a re-created wheel’ to them. She used a vivid photo on her presentation. Before the help of accelerator company, startups are using square shaped wheels to drive their companies. By accepting consolidated learnings, access to capital and the network from accelerator, startups changed their wheels to a round shape one which is offered by accelerator. It is a metaphor on what the accelerator offers to startups. “We will select those potential startups and target those influential entrepreneurs to help them. In other words, we might not help everyone.”
AlchemistAcc add credibility to startups when pitching investors, customers, and future employees. However, the teams of the startups are always the most important. “Teams are everything for startups even though you have strong network.”