E1048 Power of Accelerators E1 Dreamit Ventures’ Steve Barsh: top portfolio cos, nailing interviews

Selection Criteria

Dreamit Ventures, led by Steve Barsh, seeks startups with a product, some revenue, or solid customer trials. They focus on companies pre-Series A, often with revenue between half a million to a million dollars annually 1. Steve emphasizes that Dreamit is not an incubator; they look for startups with early traction and exceptional founders 2. He advises founders to demonstrate their understanding of the competitive landscape and the urgency of the problem they are solving 3.

We're looking for companies that solve a really big pain point. And it's clear we're looking for a company that has a solution that's based on a really interesting, unique insight.

--- Steve Barsh

This approach ensures that Dreamit invests in startups with the potential for significant growth.

   

Program Structure

Dreamit Ventures' accelerator program, founded in 2008, is a 14-week hybrid program focusing on pre-Series A startups across three verticals: health tech, secure tech, and urban tech 4. The program runs two cohorts annually, allowing startups to benefit from a structured yet flexible schedule that includes both virtual and in-person components 5. Steve highlights the importance of focusing on ideal customer profiles and refining go-to-market strategies, which are crucial for startups to gain traction and avoid being scattered 6.

Focus. Because, you know right. So many startups die because they're not focused. They're all over the place. They're scattered.

--- Steve Barsh

This structured approach helps startups align their strategies with market demands.

   

Mentoring & Coaching

Mentorship and coaching are pivotal in Dreamit's accelerator program. Steve explains that about 50% of their companies raise funds within six months of completing the program, with Dreamit often participating in these rounds 7. The program includes rigorous preparation for investor meetings, including mock VC interviews to ensure startups are ready for real-world challenges 8. Additionally, Dreamit organizes customer sprints, allowing startups to meet potential clients and refine their business models 9.

We beat the shit out of them. Our job is to find the best of the best and make them better.

--- Steve Barsh

This intense preparation ensures startups are well-equipped to succeed in the competitive market.